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http://hotair.com/archives/2012/10/25/doing-the-math-obama-r...

In the 12 quarters since the Obama recovery started, real GDP has climbed 6.7%. That’s below even the GDP growth rate in the 12 quarters after the 1980 recession ended — despite the fact that there was the intervening deep and prolonged 1981-82 recession.

The picture isn’t any better when looking at job growth.

Obama often boasts that the economy has added 5.2 million private-sector jobs in the 31 months since employment bottomed out in February 2010. But that rate of job growth lags every previous recovery as well if, as Obama does, you start counting at the point where jobs bottomed out.

Bush oversaw 5.3 million new private-sector jobs in the 31 months after employment hit bottom in mid-2003. Under Reagan, private-sector jobs climbed 8.2 million during a comparable time period.

What’s more, Obama’s recovery has reclaimed only about half the jobs lost during the recession. That’s a far cry from prior recoveries, which saw the number of jobs exceed the previous peak by this point.

What about the “inherited mess” argument? Merline points to two studies that say the financial crisis had little to do with the nature of the recovery:

In fact, an October 2011 paper by the Atlanta Fed concluded that “U.S. history provides no support for linking low employment and high unemployment in the current recovery with the financial crisis of 2007—2008.”

And a November 2011 paper by economists at Rutgers University and the Cleveland Fed concluded that while recessions tied to financial crises tend to be deeper than average, the recoveries also tend to be stronger than average.

Study co-author Michael Bardo noted that, based on these findings, “the slow recovery that we are experiencing from the recession that ended in July 2009 is an exception to the historical pattern.”
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History will not be kind to Mr. Obama. Don't let the door hit you in the ass on the way out.
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