Obama’s is the Worst Economic Recovery in History

Obama’s is the Worst Economic Recovery in History (Graph, GDP Data)

Posted by FactReal on February 16, 2013

“Obama has presided over the worst multi-year recovery in American history since the end of World War II,” CNSNews found using public economic data. During Obama’s so-called economic recovery, the economy grew only 7.5% while other post-recession periods saw double-digit growth from 11.7% to 51.2%. “From the end of the last recession in June 2009 until the fourth quarter of 2012, the economy grew only 7.5 percent, increasing from $12.7 trillion to $13.6 trillion,” explains CNSNews. We prepared graphs and tables to illustrate how weak Obama’s economic recovery has been. (Sources: Gross Domestic Product (GDP) since 1949 and NBER’s List of U.S. Recessions.)

RECESSION PERIODS (A recession/contraction is a period between a peak and a trough — see graph below.) Officially, the last recession lasted from December 2007 to June 2009.

Start (Peak) End (Trough) Duration (# months) 1948 Nov 1949 Oct 11 1953 July 1954 May 10 1957 Aug 1958 Apr 8 1960 Apr 1961 Feb 10 1969 Dec 1970 Nov 11 1973 Nov 1975 Mar 16 1981 July 1982 Nov 16 1990 July 1991 Mar 8 2001 Mar 2001 Nov 8 2007 Dec 2009 June 18

RECOVERY/POST-RECESSION PERIODS (An expansion is a period between a trough and a peak — see graph below.) Obama’s economic recovery is the worst multi-year recovery when compared with double-digit growth in other post-recession periods. During Obama’s economic recovery (from the second quarter of 2009 until the fourth quarter of 2012), the economy grew only 7.5 percent, increasing from $12.7 trillion to $13.6 trillion.

Start (Trough) GDP ($ Billions) 1949-10-01 $1,838.7 1954-04-01 $2,306.4 1958-04-01 $2,534.5 1961-01-01 $2,816.9 1970-10-01 $4,253.0 1975-01-01 $4,791.2 1982-10-01 $5,866.0 1991-01-01 $7,943.4 2001-10-01 $11,370.0 2009-04-01 $12,701.0 End (Peak) GDP ($ Billions) 1953-07-01 $2,351.8 1957-07-01 $2,616.6 1960-04-01 $2,832.0 1969-10-01 $4,259.6 1973-10-01 $4,948.8 1979-10-01 $5,884.5 1990-07-01 $8,052.6 2001-01-01 $11,287.8 2007-10-01 $13,326.0 2012-10-01 $13,647.6 % Economic Growth Duration (# months) 27.9% 45 13.4% 40 11.7% 24 51.2% 106 16.4% 36 22.8% 58 37.3% 92 42.1% 120 17.2% 62 7.5% 42

NOTE The early 1980s post-recession period lasted just 12 months (from July 1980 to July 1981.) SOURCES ●Obama’s economic recovery the worst multi-year recovery since WWII ●Real Gross Domestic Product (1949 – 2012) National Bureau of Economic Research ●http://www.nber.org/cycles/cyclesmain.html Bureau of Economic Analysis ●http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=1&isuri=1