The private sector fuels economic growth. If we kept more of our earnings,or were taxed on what we buy instead of what we earn, the economy would expand.Of course that transfers power from the politicians and bureaucrats to the private individual,which is why it won't happen.
GDP under Reagan - +32%.
GDP under Obama - +9.6%.
You decide which is better.
The private sector fuels economic growth. If we kept more of our earnings,or were taxed on what we buy instead of what we earn, the economy would expand.Of course that transfers power from the politicians and bureaucrats to the private individual,which is why it won't happen.
remember what Hilary said: "Don’t let anybody tell you that, you know, it's corporations and businesses that create jobs."
This is the warped mentality of life long politicians. Business=Bad, Government=Good
For idiots procreating more idiots.
And Reaganomics is the epitome of great short term profits at huge deferred/displaced costs. The decimation of domestic manufacturing and our once robust working middle-class is proof of these "deferred/displaced costs".
Do you have a different number?
20 million more on food stamps since the Exalted One arrived at the WH.
20 million more on welfare..... .
lowest labor participation rate ever.
Debt that outstrips all other Prez combined.
Middle income people make less today than when the King declared his policies.
And interestingly, the rich have gotten richer.....to include the Divider-in-Chief.
me Elm
Those numbers by the so called Pundit is concocted.
GDP started to decline.
-- Modified on 4/30/2015 9:44:27 AM
The only unfairness I see is that it compares 8 years of Reagan vs. just 6 years of Obama, so Obama does have some time to put some more points on the board.
This Forbes article seems to be the source of the OP link.
that, no one talks about the deficit under Reagan. On of the largest in US History. Just talking about GDP growth while not discussing the deficit makes it an unfair analysis.
and the deficit under the 'anointed one' makes Reagan look like an amateur.
Obama's federal deficit/debt make all other presidents look like cheapskates. As a percentage of GDP, the 1971 debt was-28%, the 1981 debt was-26%, the 1991 debt was-45%, the 2001 debt was-32%, and the 2011 debt was-67%.
The federal deficit for the same years, 1971 was-2.5%, 1981 was-4.0%, 1991 was-5.6%, 2001 was-2.0% surplus, (which was smoke and mirrors), and the 2011 deficit was-8.7%.
Another interesting aspect of the 2011 federal budget is that, spending on Social Security, Medicare, and medicaid, was 9.6% of the GDP. Defense spending in the same budget was 4.7% of GDP.
The Social Security Administration also "loaned" $4.6 trillion to the Treasury Dept to help reduce the deficit. If corporations used the same GAPs that the government uses, there would be a lot of CEOs and CFOs in prison.
As of January, 2015, the USA is $18.1 trillion in debt. The 2015 GDP is estimated to be around $16.9 trillion. If we gave the entire country to the debt holders, we'd still be a trillion or so dollars in debt.
Tell us again who is the biggest spender in many years?
-- Modified on 5/2/2015 1:04:51 AM