Tag Archives: nation’s economy

Obama better economically than Reagan? Wow!

Here’s a bit of a surprise: Barack Obama’s presidency has had a greater positive impact on the national economy than the presidency of Ronald Reagan.

You want more of a surprise? This assessment comes from Forbes Magazine, hardly known as a liberal-leaning publication prone to sing the praises of lefties.

http://www.forbes.com/sites/adamhartung/2014/09/05/obama-outperforms-reagan-on-jobs-growth-and-investing/

Nope. Forbes isn’t exactly Mother Jones or The Nation.

But in the essay attached to this post, it notes that the unemployment rate has dropped more quickly during the Obama administration than it did when Reagan was president. The deficit? It’s dropped significantly while during the Reagan years it grew way beyond what was considered prudent at the time.

Forbes cites the Bureau of Labor Statistics as its source for the glowing economic report. It notes that the August job-growth figure was a disappointment; the nation added “only” 142,000 jobs in August, breaking the string of 200,000-job string of monthly reports. There’s no need to wallow in despair, according to Forbes: “Despite the lower than expected August jobs number, America will create about 2.5 million new jobs in 2014.”

This is worth noting — and I encourage you to read the Forbes article — because Obama’s critics continue to do an effective job of poor-mouthing the economy. There continues to be this perception among the public that the economy remains in the tank. For the life of me I cannot understand how the right wing is able to sell that notion. But it does.

I suppose one can pick apart all these economic indicators and find negative elements to highlight. It’s just interesting to me nevertheless that Forbes — founded by the late Malcolm Forbes’s father and continued by his one-time Republican presidential candidate son, Steve — would find so much good news to report about someone with whom the organization has so little in common.