R
rdean
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- Thread starter
- #61
What do you imagine economic growth should be?And you'd be absolutely right, Pinqy! I should have said 3%. Thanks for catching that. Bottom line hasn't changed though, has it? Real GDP growth has been anemic under Obama who never did seem to understand enough economics to formulate a plan to create lasting jobs and really stimulate the economy.I wasn't commenting on whether or not the actual growth was good or bad (and it has been slow) but that Oldstyle was claiming something that was factually untrue. My guess is that he heard the true claim that under Obama the annual change has never been above 3% and that he is the first President since Hoover to have such low growth, but somehow mangled and changed it.They don't understand that for a country like China, where hundreds of millions live in poverty, they need an expanding economy of 6 or 7%.That is untrue.W Barack Obama has overseen the worst recovery from a recession in modern economic history...not growing the economy by more than 2% in any quarter of his entire two terms...something that no other President in our long history has failed to do.
But for us, 78 months of economic growth is probably the very best we can do. As time goes by, more jobs will be taken over by automation. AI is not the wave of the future. It's already here.