What's happening with Obama and GDP?
Can I get a detailed summary of what's happening and how bad this could be?
- L2Lv 56 years agoFavorite Answer
[Giving credit where it is due, and still it has nothing to do with whether I like or dislike anyone.]
That above said, "Some will try to claim that Reagan inherited a less threatening economic environment when he took office. Nonsense. Unemployment was at 7.2% in 1980, and only 5.8% in 2008. Inflation was 13.5% in 1980. In 2008? 3.8%." So, if you follow Forbes, and who doesn't at least read some of their propaganda, then the United States, according to them, by 2016, will no longer be the world’s No. 1 economy, yet it will be No.2 and China will be No.1 --
But, no matter how you slice this, I really don't see that we become No. 2 ever. Without the United States and our civilization -- our dear little China and even Russia to include the lot of all other nations, without our existence, and despite our ups and downs, we will always be the No.1 economy, however Bill Clinton might try to destroy the United States economy if he leads as President of China (which is what he is trying to work with the Chinese as we speak.)
In less than two decades; something so ridiculous happened, 2 stupids out of Arkansas created a spiral of inconsistencies in the books and neither the Bush or Obama administrations created the problems we have today. It takes a ten year plan to work, or be destroyed to start the dominos to fall, and the Clintons stopped Reagans corrections of trickle down economics which was working.
According to the Heritage and it's diligence in documenting facts; beyond waste, the federal government is too big. Energy spending increased over 2,000% since 2002 after adjusting for inflation.
And looking back to give you an answer about Obama and the GDP today: In 1963, defense spending was 9% of GDP and mandatory spending on entitlement programs was 6.1% of GDP, one-third lower. -- In 2013, spending on defense is at about 4% of GDP and falling, while mandatory spending (including net interest) is reaching 14.5% of GDP and growing. Do the math.
By 2016, Obama will have corrected the spending and we will have a balance economy. He will leave us with no less than what Reagan did, whereas it will take time and all the next president has to do, is maintain the steadiness of that solution (something that Bill Clinton did not do). , , , sorry, i had to pause --
So, in my opinion, Obama and the GDP are on schedule and we will see the reflection of the times and a stabilization will not be record numbers but in line with a reasonable growth that improves our situation, provided we enforce the federal constitution in reducing the care to illegal immigrants which will reduce spending on healthcare and social security to those who are illegally using these benefits.
- 6 years ago
GDP isn't that useful of an indicator by itself. But here's a chart of US GDP growth rate (by year and quarter).
- rightstuffLv 76 years ago
sorry i don't have that information