Obama: the P.T. Barnum of ex-presidents

© 2018 Jim Spence - There is good news and bad news for Barack Obama and his struggle to remain relevant about anything. The bad news is he is the most financially illiterate ex-president in the history of our country. The good news is financial illiteracy still appeals somewhat to the American masses thanks to a failed public education system, pop culture, and a U.S. news media that is on a mission to prop up the Obama's historical reputation.
Last week Obama tried to take credit for the booming economy that has emerged thanks to all of the pro-growth policies enacted by Trump. Like a carnival barker, Obama weighed in on all the good economic news. “When you hear how great the economy is doing right now, let’s just remember when this recovery started,” Obama proclaimed like the emperor who was wearing no clothes.
Well, at least he conceded the economy is flying. No other Democrat will even do that.
After the 11 previous recessions going all the way back to the Great Depression, the U.S. economy has recovered all the lost jobs in an average of only 27 months after each recession began. It took the U.S. six years to recover the job numbers lost when Obama stepped in. Post-recession GDP is usually attained within a little over a year after a recession ends. America’s GDP took 3½ years to rebound to prior levels under Obama's choking big-government anti-business polices.
So here is the reality. With an absolute economic rebound/layup handed to Obama, real domestic GDP growth averaged just 2% over his entire eight years.
Know this, recessions come and recessions go. Recessions are actually good news if you are the incoming president and you win during the other guy's recession. History is pretty simple on this point. The U.S. economy under any other leader except Obama would have come roaring back from the 2008-09 recession. Obama's results are the most historically awful ever, thanks to his seizing of healthcare for Washington D.C. bureaucrats to run. The sorry economic performance under Obama explains why he presided over the greatest decimation for the Democratic Party in the U.S. House, the U.S. Senate, state governor counts, and also in state legislatures.....in history.
The real economic recovery Obama tried to steal credit for last week started the moment the markets realized Hillary Clinton was not going to be able to continue Obama's foolish economic policies after 2016.
Like him as a person or not, Trump has engineered sweeping deregulation across many sectors of what used to be a red tape-stricken U.S. economy. His policies have been like jet fuel. There are jobs offered EVERYWHERE. U.S. workers are doing better than they have in decades.
Instead of the big-government woes created by Obama’s entrenched bureaucrats, who were strangling investments in business and in business confidence, increased confidence was finally unleashed again in America. Within six months of Trump’s inauguration annual growth in GDP had surged past 3% and it is now running at over 4%.
Sadly, Obama was never about encouraging workers or rewarding industriousness. He was more about increasing taxes on the industrious and active workers to fund giveaways for the unambitious and the deadbeats. Obama never has in his entire lifetime, thought it might be important to figure out what sort economic policies would help with job creation and rising wages. This explains the reason why we never saw amazing increases in real wages for working people.....like we have seen over the last 21 months. He had eight years and he BLEW IT.
Watch the news, go to a current events class at any public school in America, or drop by most higher education facilities in the nation and you won’t hear a peep about these realities. What you will hear about instead, is how terrible life in America is with such a despicable jackass in the White House.
Trump may well be a despicable jackass. However, his policies make things better for working people.
On the other hand, Obama is the P.T. Barnum of ex-presidents and the news media, the public education system, the higher education system, and the entertainment business are the customers at his ridiculous circus.