Saturday, May 27, 2017

Obama Was Only President To Never Sustain 3% Economic Growth

In my article, "Obama: The Abysmal Statistics," I shared with you the following economic statistic: 
"First president not to see a single year of 3% economic (GDP) growth. This makes Obama the forth worst on record. This is sad, because "The rate of real economic growth is the single greatest determinate of both America’s strength as a nation and the well-being of the American people."
So, every U.S. President from George Washington all the way to George W. Bush saw an economic growth of 3%. Obama kept telling people how many jobs he created. He kept telling people how well the economy was doing. And people accepted this.

Think of it this way. People with jobs who are under the age of 30 have never had a job in a booming economy. So, to them, it was easy to accept what Obama said. Because, to most people, history starts the day they are born. So, when you tell these people the economy is doing great, even when it isn't, they don't know any better. So they accept what they are told.

People who lived through the 1980's saw real economic growth and prosperity. Even people who lived through the 1990's and through the Bush tax cuts in 2000 saw it. And many of these folks tend to accept Obama's statistics: they are told that this is the new normal.

We are told this is the way it is in a progressive world. That in a world where you have to fight global warming with high taxes and regulations, this is the new normal. That is a world where you have to create needy people and solve their problems so that you can be seen as loving and caring so you can get re-elected, this is the new normal.

Trump came along and said it doesn't have to be this way. His economic plan is to get the economy running at the 3% clip again. This is not to say that GNP needs to increase, it's saying that economic growth should be running at a 3% clip, at least once in a while.

When this happens -- when we get to 3%, it will mean that the economy increases by 100%. When this happens, every person living in the U.S. will see it. Businessmen and entrepreneurs will have an incentive to take risks, because there will be a good chance at getting a return on their investment. You will see businesses expanding, you will see new businesses going up. You will see jobs, jobs, jobs and jobs galore.

You will also see wage and salary hikes. During the Obama years, much like the economy, wages were stuck in stagnation. They did not increase. In fact, they didn't even increase to keep up with inflation. So this meant that the value of the dollar decreased. For instance, a dollar could have been used to buy one loaf of bread in 2000, but now a dollar will only buy you a half of a loaf. I'm not saying those were the actual prices, I'm just giving you an example to explain the value of the dollar.

This would explain why our grandparents and parents were able to get by on just my dad working, or just my grandpa working. They also lived in huge houses. Today, I have to work and my wife has to work just to afford to live in a small run down house.

You can't just blame this all on Obama, but there were quite a few people in Washington, both republicans and democrats, who let him get away with it. There were no efforts by republicans to fight Obama's budget increases. I mean, they said they would do it when they ran for office, and they were voted in because they said they would do it. But once they got into office they never did anything.

And this is why Trump was elected.