Now we have a reasonably complete statistical picture of the Obama years, which began in the middle of the worst economic downturn since the Great Depression, and ended with the highest level of household income ever recorded. North Carolina For Trump Flag. These facts often turn out to be at odds with the impressions created by candidates who, for example, claimed wages and incomes were stagnant when in fact they were rising.
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The facts also can conflict with impressions created by news media reporting dramatic but untypical events. Despite nonstop coverage of several mass shootings, for example, the murder rate was going down for most of the Obama years, hitting the lowest ever recorded in 2014. North Carolina For Trump Flag. Responding to Obama’s claim that the Recovery Act passed under his administration set the country on a path to economic success, Trump claimed Obama actually had “the weakest recovery since the Great Depression. Facts First: If you look solely at the average rate of GDP growth, it’s true that that the economy recovered more slowly after the Great Recession than during previous rebounds. Annualized GDP growth averaged about 2% after it bottomed out in 2009 through the end of Obama’s term.
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That’s far below the typical growth in rosy times of over 4% a year that the US has experienced since World War II. North Carolina For Trump Flag. Growth has ticked up slightly under Trump, to 2.5% during his first three years. That’s well below the 4% Trump had promised but a bit better than the 2.4% average growth rate during the last three years of Obama’s time in office.