posted by QuakerOats
obama benefited due to the statistical anamoly created by the market crash. Prior to his election the Dow was near 14,000 and at the end of his term around 16,500. So during his term we got back to where we were, plus about 2,500. This translates over 8 years to anemic 2% annualized increases, which is less than 1/5th of the normal historical returns. What has occurred since then speaks for itself.
Nah man. I'm not one to praise Obama's economy, because it was not stellar, but it was not what you describe either.
Just a quick search will show how wrong you are. At the end of 2008 the Dow was below 10k, not near 14k. When he left, it was around 18-19k.
Also, during his first 4 years, the economy was losing a shit ton of jobs per month. Then, that stopped and then we slowly started to grow to our current point.
Sure, it was not as fast as it should have been and the economy has not grown fast enough in certain sections, but come on man.
When the economy tanks like it did, it will take time to rebuild and get back to where we were before the crash of 08. Now, again, you can correctly point to Obama's later economic plan and say it did not grow the economy fast enough in the later years.
Also, there is the bigger point of macro economic policy to not use the Dow as a barometer for the economy. It is just one small data point.