Second Worst Modern Recession President

Over the past few years, there have been many comparisons between the latest “Great Recession” and the “Great Depression” of the 1930’s. However, that is not the only other time in our history when the economy has been terrible. Many Americans remember the recession in the late 70s / early 80s and the recession in the early millennium, but few others are ever referenced.

Thankfully, the National Bureau of Economic Research’s Business Cycle Dating Committee (whew) has been compiling data on every recession since the mid-1800s. While this past recession lasted 18 months, it is not the longest recession in history, just the longest one in recent memory. According to the American Enterprise Institute:

“Between 1865 and 1885, there were three recessions that lasted more than 32 months, and since 1854 there have been twelve recessions (out of 33 total) that lasted at least as long as our “Great” one.”

President Obama had 33 other recessions to look at and decide how best to preside. He could have looked at the most recent recessions, like the one President Reagan presided over and used his approach, or George W. Bush’s approach in the early 2000s which led to a 44% increase in government revenue. But of course, taking the latter would mean that President Obama would have to renounce his campaign rhetoric by admitting that the Bush tax cuts are not evil.

AEI has also provided a useful chart which summarizes the job creation records for the five worst Presidents since the mid-1800s to preside over an economic downturn. Adjusted for percent change in job creation over the first two and a half years of their presidency, the results are as follows:

Not surprisingly, Herbert Hoover is the worst since he presided over the beginning of the Great Depression. But no other President had negative job creation during his first two-and-a-half years in office…until President Obama!

Yet all we get from this President is more rhetoric and more accusations. He simply refuses to accept the fact that his policies have stymied job creation and economic growth. He thinks that the situation he inherited (and subsequently prolonged and made worse) somehow entitles him to a second term because they’ve made his hair gray.

But what does he propose to do about our grim situation? Exactly what he has been doing the past two and a half years: spend, spend, spend. And we’ve seen how well that’s worked so far!

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6 thoughts on “Second Worst Modern Recession President

  1. if president obama hadnt steped into a pile of crap left by maney years of republicans, he wouldnt be getting blammed for everything. why dont people try to understand how hard his job is insted of running off at the mouth.

    • Why don’t you understand the house has been ran by demacrats for Bushes terms and nothing happened that they didn’t do. In fact they have controlled Washington for what…60 years? So run that off your lips.

    • I agree Brenda. God couldn’t cure what was left after 8 years of Bush. Obama is not doing a great job but no-one could cure this mess.

  2. Brenda and Gavin you need to grow up and educate yourself. No one is saying President Obama did not inherit a tough situation but he has done everything in his power to stifle this economy. He has increased regulation like no other President, he has put through a 2,200 hundred page health care bill (filled with job killing regulations), he has stopped our drilling in the Gulf but has worked with Brazil to let them drill in the Gulf, he has gotten us into more wars, the Democratic Congress has not submitted a bill in over 800 days, he is allowing the printing of more money which increase the cost of gas, and it goes on and on. Gas prices are at an all time high and we hear nothing about this. He also has the media cheerleaders talking about poor President Obama and all of the hardships he has had. This has to stop he is the President who needs to make decisions to get the country going but unfortunately it seems like he is more concerned with creating a nanny state…I was no great fan of President Bush but I tell you I would take him back in a minute; and it’s true what Mo says the Democratic Congress is killing this Nation. Stop trying to defend the Prsident, he’s a grown man. You shoulld look at your life and ask yourself are you doing better or worse. The cost of gas is up, the cost of food is up, the cost of clothes is up, unemployment is up, the value of the dollar is down (even Canada has a stronger dollar), what is better than it was 3 years ago?

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