Obama is truly the historic president. After First Quarter GDP was revised down to -0.7%, Obama set yet another dubious record. Of all presidents in American history, no president has had a worse first quarter GDP growth than Obama. The first quarter of the year’s GDP is usually fairly highly, because it includes all the holidays. Since 1947, when these numbers were first trcked GDP growth has averaged 4%. In the seven first quarters during Obama’s reign of terror, first quarter GDP has seen an average is a decline of -0.43 percent.
Obama took office on Jan. 20, 2009.
1st Quarter 2009 GDP: declined at an annual rate of -5.4 percent.
1st Quarter 2010 GDP: grew by 1.7 percent.
1st Quarter 2011 GDP: declined by -1.5 percent.
1st Quarter 2012 GDP: grew 2.3 percent.
1st Quarter 2013 GDP: grew 2.7 percent.
1st Quarter 2014 GDP: declined -2.1 percent.
1st quarter 2015 GDPL declined -0.7 percent.
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| Obama has lowest average 1stQ GDP of any president |
Well done Barry! You have yet another dubious record to add to your ‘list of accomplishments.’
With with the crash of 2008, even Bush averaged a positive first quarter GDP over his eight years.
In all first quarters since 1947, the real annual rate of growth of GDP has averaged 4.0 percent.
In the seven first quarters during Obama’s presidency, it has declined by an average of -0.43 percent. And if you leave out the first quarter of 2009 and look only at the first quarters of the six years since the recession ended, it has averaged only 0.4 percent.
In the six years of Harry Truman’s presidency for which the BEA has calculated quarterly GDP, the annual rate of growth in GDP in the first quarter averaged 4.5 percent.
During President Eisenhower’s eight years, it averaged 3.2 percent. During Kennedy’s three years, it averaged 4.9 percent. During Johnson’s five years, it averaged 8.3 percent. During Nixon’s six years, it averaged 5.3 percent. During Ford’s two years, it averaged 2.3 percent. During Carter’s four years, it average 2.4 percent. During Reagan’s eight years, it average 2.1 percent. During George H.W. Bush’s four years, it average 2.9 percent. During Clinton’s eight years, it averaged 2.6 percent. And during George W. Bush’s eight years, it averaged 1.7 percent.