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  1. Default Itís Official: President Obama Is The Best Economic President In Modern Times-Forbes

    Obama Outperforms Reagan On Jobs, Growth And Investing
    Forbes Magazine

    Itís Official: President Obama Is The Best Economic President In Modern Times

    AUTHOR: RANDA MORRIS SEPTEMBER 6, 2014 10:26 PM

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    A new economic report, published by Forbes.com on September 6, 2014, clearly shows that President Obama is the best economic president in modern times. Itís not an opinion, itís a fact, based on all of typical the economic indicators, including jobs, investments, growth and expansion, even the rate of inflation. In all of these areas President Obamaís record outperforms that of every other modern president, including conservative idol, Ronald Reagan.

    Under President Obamaís leadership, the unemployment rate has now decreased to 6.1 percent, the lowest itís been since 2007, when the economy began gushing jobs under the failed leadership of then president George W. Bush.

    Typically, republicans have tried to detract from the presidentís accomplishments. When it comes to the falling unemployment rate, they claim that it is somehow related to large numbers of people just dropping out of the workforce. This would almost be believable if the economy wasnít creating new jobs at a rate that coincides perfectly with the falling employment rate, but it is. There have been six consecutive months with more than 200,000 new jobs created, with only a slight dip in that number in August. Additionally, there have been 63 straight months of economic expansion and more than two solid years of manufacturing expansion.

    In order to satisfy Obamaís conservative critics, Forbes compared the economy under President Obama to that of Ronald Reagan, who the GOP often touts as the best economic president of our times. Itís no surprise to discover that even with many additional obstacles in his path, Forbes concluded that:

    ďPresident Obamaís administration has outperformed President Reaganís in all commonly watched categories.Ē

    In order to complete the analysis, Forbes interviewed Bob Deitrick, CEO of Polaris Financial Partners. The companyís newsletter is reported to be one of the most reliable authorities on economic performance in the country. Hereís what Deitrick had to say about President Obamaís job creation record, when compared to that of President Reagan.

    ďPresident Reagan has long been considered the best modern economic President. So we compared his performance dealing with the oil-induced recession of the 1980s with that of President Obama and his performance during this ĎGreat Recession.í

    As this unemployment chart shows, President Obamaís job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan.

    President Obama has achieved a 6.1% unemployment rate in his 6th year, fully one year faster than President Reagan did. At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year. So, despite todayís number, the Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration.

    We forecast unemployment will fall to around 5.4% by summer, 2015. A rate President Reagan was unable to achieve during his two terms.Ē

    According to Forbes, this is not only the best private sector job growth in modern history:

    ďThis is the best private sector jobs creation performance in American History.Ē

    Deitrick also made it clear that President Obama has not achieved this reduction in unemployment because of a shrinking workforce, but in spite of it.

    ďWhatís now clear is that the Obama administration policies have outperformed the Reagan administration policies for job creation and unemployment reduction. Even though Reagan had the benefit of a growing Boomer class to ignite economic growth, while Obama has been forced to deal with a retiring workforce developing special needs. During the 8 years preceding Obama there was a net reduction in jobs in America. We now are rapidly moving toward higher, sustainable jobs growth.Ē

    As a final note, President Obama has managed to outperform Ronald Reagan in all of these areas, while at the same time, reducing the national debt. On the other hand, Reagan greatly expanded the debt, and still failed to achieve in eight years, what President Obama has achieved in only six.

  2. Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    My personal comment:

    We should be joyful about our "prosperity", but the refusal of one party to raise the minimum wage to bring our poor out of poverty and their refusal to progressively tax the wealthy enough to let America invest in itself and its people is shameful. Sadly, our Tea Party friends are so confused by talk radio, one sided advertising & monetary support by rich moguls like the Koch brothers, and their friends' warped sense of values, they almost always vote against their true economic interests.

  3. #3

    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    This study uses very flawed logic because it compares economic performance at specific points during administrations and doesn't factor in timing of their respective recessions. For instance, Obama took office right at "rock bottom" of the Great Recession. Reagan's Presidency got hit with a major recession in 1982-83, in the middle of his first term. To get a true picture of the Reagan recovery, you have to start with the end of the recession, not when he took office. The same with Obama. If you start at the end of Reagan's recession, you see that recovery was much quicker and stronger than the Obama recovery. All of that said, I believe Clinton to be the best economic President in recent times. He gets screwed by this study because the economic bounce following the Bush 41 recession had already occurred by the time he took office.

  4. #4

    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    A lot of those figures thrown around also mean different things now when compared to the 80's and 90's. For example, the way we measure unemployment now is completely different. I've seen figures (and don't remember where) that used the old formula with today's situation and I remember just being shocked. It's the same for several other key benchmark numbers. Comparisons from era to era using figures used in their respective times is a dangerous thing if you want true comparisons. Let's also remember that whatever Obama has done to improve the economy was done with the stimulus packages and put on the credit card. Yes, just like Ronald Reagan did. Put it all on the credit card and any family (or government) can look to be doing pretty good - until the bill (or bubble bust) comes due.

  5. #5

    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    It's "official". Like it's "official" that I'm Captain Awesome.

    If I HAD to give credit, I'd give it to congress (since they're who we blame). That being said...

    It'd be just as valid to say... GOP House is best Economic House in Modern Times.




    And it would be just as stupid to claim.


    But you never know.

  6. #6
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    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    Quote Originally Posted by JohnH_in_OKC View Post
    My personal comment:

    We should be joyful about our "prosperity", but the refusal of one party to raise the minimum wage to bring our poor out of poverty and their refusal to progressively tax the wealthy enough to let America invest in itself and its people is shameful. Sadly, our Tea Party friends are so confused by talk radio, one sided advertising & monetary support by rich moguls like the Koch brothers, and their friends' warped sense of values, they almost always vote against their true economic interests.
    But why vote for a Democrat for president if you have usually been in excellent health and don't know what real pain and sickness is? Why vote for a Democrat for president when you have a great paying job and don't know what living from paycheck to paycheck is? Why vote for a Democrat, if you have never been on welfare? Why vote for a Democrat when you live for Fox News, rather than MSNBC? And what if your other interests equal or exceed in importance your economic interests with those other possible interests being anti-abortion, anti-gay, anti-pot, pro God and pro gun? For instance, we had a big pro God showing outside the Civic Center on Sunday.

  7. #7

    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    Quote Originally Posted by JohnH_in_OKC View Post
    My personal comment:

    We should be joyful about our "prosperity", but the refusal of one party to raise the minimum wage to bring our poor out of poverty and their refusal to progressively tax the wealthy enough to let America invest in itself and its people is shameful. Sadly, our Tea Party friends are so confused by talk radio, one sided advertising & monetary support by rich moguls like the Koch brothers, and their friends' warped sense of values, they almost always vote against their true economic interests.
    Well, to fight blind partisanship with blind partisanship...there's this... MOORE: Obamanomics victimizes president's biggest supporters most - Washington Times

  8. #8

    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    Let's hope we make some progress with infrastructure. As I have traveled the country the last few years, our major cities have concerns about our crumbling bridges and highways; it's not a myth.

    America?s rotting empire: Billionaires galore and a crumbling infrastructure - Salon.com

    "Oklahoma City looks oh-so pretty... ...as I get my kicks on Route 66." --Nat King Cole.

  9. Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    Anyone who knows anything about economics and finance knows the President has little to do with the economy these days. Without a doubt the most powerful/influential person in the American economy is the sitting Fed chair and the Fed governors underneath.

    I also find it interesting that this rather biased article not once makes mention of the current labor participation rate.

  10. #10

    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    Amazing.

  11. #11

    Default Re: Itís Official: President Obama Is The Best Economic President In Modern Times-For

    Quote Originally Posted by zookeeper View Post
    A lot of those figures thrown around also mean different things now when compared to the 80's and 90's. For example, the way we measure unemployment now is completely different. I've seen figures (and don't remember where) that used the old formula with today's situation and I remember just being shocked. It's the same for several other key benchmark numbers. Comparisons from era to era using figures used in their respective times is a dangerous thing if you want true comparisons. Let's also remember that whatever Obama has done to improve the economy was done with the stimulus packages and put on the credit card. Yes, just like Ronald Reagan did. Put it all on the credit card and any family (or government) can look to be doing pretty good - until the bill (or bubble bust) comes due.
    Actually, the Bush / Obama bailout was handled more like an investment than an expense. The Treasury has actually seen a positive return on the money disbursed to financial institutions.

    But, yes, the comparisons are specious at best. Evaluating the economy from a single variable (an executive administration) is a totally vain exercise and people do this mainly for political purposes. No administration can make or has implemented a unilateral and philosophically consistent economic strategy, because 1) there's way too many other factors, parties, policy makers, and influences on the economy that go way beyond anything the Executive branch can do and 2) when it comes to the economy, the President's main role is limited to recommending policies and its only real leverage is a veto.

    Honestly, the real difference in our economy today than 50 years ago is regulatory policy that evolved and changed in many different ways over several administrations. Of course, breaking that down in any comprehensive way would require a couple of years of study and a post grad dissertation, and even then it be filled with associative analysis that can be misleading. However, it's not hard to look at a few graphs here and there and realize that our economy is much more volatile and short term focused than it was a couple of generations ago.

    So, while the economy has been improving under Obama since the crash under Bush, much of the polices put in place to shore up the economy after the crash have been eroded by special interests who write the laws (basically, the banks whose practices contributed to the crash have been rewriting the rules so they can get back to doing what they did before). Unless we have reason to believe that the same actions will lead to different results this time, we're basically restarting the clock on the economic time bomb. Who ultimately gets blamed when it goes off will all depend on timing and politics, but maybe they feel that since they've shown the Treasury can make money off bailouts, no one really cares.

    Much like the middle east, we should always be wary of anyone who pretends to know exactly what caused what within the macroeconomic landscape and especially if they try and attribute macroeconomic changes to a single variable.

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