Claims of an economic miracle during the Obama administration has been exposed as nothing but a myth as official figures showed that the U.S. economy barely avoided a recession last year, growing by less than 2 percent in Obama’s final year in office.
Last week, the Commerce Department released its revised fourth-quarter gross domestic product figures, which showed just a 2.1 percent increase, which means the economy grew by a paltry 1.6 percent for the entire 2016.
The poor performance of the American economy throughout the last 8 years also put the Obama administration in last place among 13 presidents who served after World War II when it comes to economic growth.
100% Fed Up reports:
There have been 13 post-WWII presidents, beginning with Harry Truman, who had the disadvantage of beginning in the aftermath of war in 1946, during which the economy contracted 11.6 percent — four times the contraction any other negative year since — and even he bested Obama’s economic record!
Herbert Hoover, who took office during the Great Depression, is the only president with a worse economic record than Obama since 1930.
Although Obama inherited an economy in recession, he had a full eight-year term to implement a growth policy that his predecessors never had but still ended up with a better economic record than him.