Friday, April 29, 2011

President Obama, you're no Ronald Reagan

This should be obvious: President Obama, you're no Ronald Reagan | Examiner Editorial | Opinion | Washington Examiner: "The numbers tell the story. The Commerce Department reported yesterday that the U.S. economy grew at an anemic 1.8 percent rate during the first quarter of 2011, more evidence that the Obama recovery has been tepid, at best. At a comparable point in Reagan's presidency, the shaky economy he inherited was headed to a robust recovery, with gross domestic product surging by 5.1 percent in the first quarter of 1983. For the rest of 1983, the economy grew at a 4.5 percent rate, then leaped 7.2 percent in 1984, as Reagan won a landslide re-election. Today, the Federal Reserve Board projects GDP growth of 3.1 percent to 3.3 percent in 2011, and 3.5 percent to 4.2 percent in 2012. Note, too, that Reagan took office after a year of 13.5 percent inflation, but by 1984, it was 4.3 percent."

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