Obama Outperforms Reagan on Jobs, Growth and Investing

iBlazed

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Original poster
Feb 27, 2014
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But, Fox News told me Obama was the worst president ever and hasn't accomplished anything. This doesn't make any sense...
Link

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. It’s not an opinion, it’s 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 Obama’s record outperforms that of every other modern president, including conservative idol, Ronald Reagan.

Under President Obama’s leadership, the unemployment rate has now decreased to 6.1 percent, the lowest it’s 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 president’s 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 wasn’t 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 Obama’s 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. It’s no surprise to discover that even with many additional obstacles in his path, Forbes concluded that:

“President Obama’s administration has outperformed President Reagan’s in all commonly watched categories.”
In order to complete the analysis, Forbes interviewed Bob Deitrick, CEO of Polaris Financial Partners. The company’s newsletter is reported to be one of the most reliable authorities on economic performance in the country. Here’s what Deitrick had to say about President Obama’s job creation record, when compared to that of President Reagan.

“President 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 ‘Great Recession.’

As this unemployment chart shows, President Obama’s 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 today’s 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.”
According to Forbes, this is not only the best private sector job growth in modern history:

“This is the best private sector jobs creation performance in American History.”
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.

“What’s 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.”
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.
 

Technarchy

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May 21, 2012
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I think direct comparisons with numbers like this is very difficult for dozens of reasons.

Purely from a baseline glance it's interesting, but a much deeper analysis is required for a full understanding.

An example being consumer confidence. In the 80's people were very happy parting with their money because they felt more secure about their jobs, earnings, savings, home values, and future.

Current times, not so much. A lot goes into that, some of which has NOTHING to do with Obama, but on a whole I'd say the nation was happier under Reagan.

 

Cave Man

macrumors 604
And golfing.
Reagan playing golf on October 24, 1983.



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I think direct comparisons with numbers like this is very difficult for dozens of reasons.

Purely from a baseline glance it's interesting, but a much deeper analysis is required for a full understanding.

An example being consumer confidence. In the 80's people were very happy parting with their money because they felt more secure about their jobs, earnings, savings, home values, and future.

Current times, not so much. A lot goes into that, some of which has NOTHING to do with Obama.

Image
I'm surprised you used a graph that is more than a year old. According to the Confidence Board, consumer confidence was at 91% in July of this year.

http://www.conference-board.org/press/pressdetail.cfm?pressid=5247
 

Technarchy

macrumors 604
May 21, 2012
6,747
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Still, why not show data to the current available, instead of more than a year old?
Because an extra few months makes no difference when gauging the mood of the nation under Obama.

Okay, it's at 90+% for a month or two. Well so what? Take consumer confidence over the span of the Obama presidency compared to previous presidents.



Also is the intent to compare one Obama month to Reagan's whole presidency? Obama would still lose even with a couple good months under his belt.

 

iBlazed

macrumors 68000
Original poster
Feb 27, 2014
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Do you agree that Obama should be in jail just like. Bush& ronnie?
I don't support putting them in jail either. It's pointless to lust over putting US presidents (which just won't happen) in prison when you also don't know 99.9% of the causes for their actions? There's no point in fantasizing about it.
 

skunk

macrumors G4
Jun 29, 2002
11,745
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Republic of Ukistan
yeah, because the ONLY options are corrupt well experience politicians:rolleyes:
We employ politicians to wheel and deal on our behalf. That the system and rules they operate under encourage graft and corruption is another matter, which certainly needs addressing, but simply saying that all politicians should go to jail does not really help.
 

jkcerda

macrumors 6502a
Jun 10, 2013
682
39,010
Criminal Mexi Midget
We employ politicians to wheel and deal on our behalf. That the system and rules they operate under encourage graft and corruption is another matter, which certainly needs addressing, but simply saying that all politicians should go to jail does not really help.
ok, lets just jail the bad ones, like the ones who had no problem with the patriot act/NSA/NDAA , seems like a good start, we can go from there. :)
 

edk99

macrumors 6502a
May 27, 2009
701
709
FL
I figured as much...

No, President Obama is Not the Greatest Jobs Creator in Human History – Not Even Better Than Reagan.

The Forbes article “Obama Outperforms Reagan On Jobs, Growth and Investing” is roaring through the Internet. Just like another mendacious article published on the website about Obama being the smallest government guy ever (rebuttal), it has caught on for two reasons: It goes against everything we know and it is an oustanding example of “viral” confirmation bias.
The article is causing some debate online, such as with a response piece at Being Classically Liberal called “Forbes is Wrong, Reagan’s economy is better than Obama’s.” The Forbes piece’s argument hinges on the following chart, which supposedly shows Obama surpassing Reagan in terms of lowering the unemployment rate:

That’s outstanding. By that reasoning, if everyone gave up looking for work and dropped out of the labor market, then Obama would have a perfect unemployment rate of 0%! Here’s the rest of the story:

More people were put to work as a percentage of the population as a result of Reagan’s expanding economy, and under Obama, at least 1 million fewer Americans are working now than six years ago.
The next argument by the Forbes contributor Adam Hartung, who has gone to this well once before with the almost satirically titled article “Economically, Could Obama Be America’s Best President?,” is that the American stock market is up more than under Reagan. No argument there – and as President Obama himself admitted – 95% of income gains under his presidency have gone to the top 1%. But he was a little hard on himself, a new report shows that the top 10% have seen income gains.
But one highly doubts Obama was elected to make the stock market boom for the top 10%, while the rest of the economy remains stagnant at best. And if inequality is your thing, both Clinton and Obama economies saw a 2% rise in inequality, while the Bush economy remained flat......

http://www.ijreview.com/2014/09/175800-obamas-economic-performance-outshining-reagans/
 

TPadden

macrumors 6502a
Oct 28, 2010
628
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The post is from a blog stating another quote from Forbes is fact. The original economic report quoted supposedly from Forbes is actually an "opinion" piece which Forbes clearly indicates as such, not a Forbes published article nor a Forbes published economic report. :cool:

"Opinions expressed by Forbes contributors are their own."
 
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P-Worm

macrumors 68020
Jul 16, 2002
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Salt Lake City, UT
I don't think we should get too carried away here. The economy is doing better since Obama took office, but I wouldn't be giving him high fives over it even though I very much support him. More stimulus was needed and a lot of the drop in the unemployment rate has come from people giving up.

The thing that makes Obama "the best" by these measures is that he inherited a really bad economy. Therefore there was more room for "growth."

P-Worm
 

samiwas

macrumors 68000
Aug 26, 2006
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If the economy is still "stagnant at best" as so many say, then why are there so many new construction projects going on (at least here in Atlanta, and same in Cincy a few weeks ago)? Why are so many more people on the roads than there were a few years ago? Why are there so many people everywhere doing things?

Seems to be it's gotten quite a bit better.