Thu Jan 17, 2013, 02:55 PM
Redfairen (1,276 posts)
Corporate Profits Have Grown By 171 Percent Under ‘Anti-Business’ Obama
Business executives like to portray the Obama administration as the “most anti-business” in history, creating an “increasingly hostile environment for investment and job creation.” However, the data tells a far different story. According to a Bloomberg News analysis, corporate profits have grown by 171 percent under Obama, the most in the post-war era:
"U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.
Profits are more than twice as high as their peak during President Ronald Reagan’s administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy."
Average annual corporate profit growth under Obama is the highest since 1900, whereas profit growth declined during both Bush presidencies. As a share of the economy, corporate profits have never been higher.
Read more: http://thinkprogress.org/economy/2013/01/17/1461871/corporate-profits-anti-business-obama/
9 replies, 1663 views
Corporate Profits Have Grown By 171 Percent Under ‘Anti-Business’ Obama (Original post)
|banned from Kos||Jan 2013||#4|
|Teamster Jeff||Jan 2013||#5|
Response to Redfairen (Original post)
Thu Jan 17, 2013, 03:07 PM
SpankMe (614 posts)
2. Even if Obama can't take full credit for the boom...
...it can at least be stated that he did nothing to curtail the robust business climate. So much for being anti-business.
Republicans still say the recovery numbers are anemic and that the recovery would be faster under their policies. But, these numbers are the best since WWI and the 1950's. How much 'better' could they have made it?
Response to SpankMe (Reply #2)
Thu Jan 17, 2013, 03:14 PM
banned from Kos (4,017 posts)
4. The recovery is measured in GDP and is weak at 2% or so compared to past
recessions. But we experienced a full scale financial crisis not seen since the Great Depression. Witness the plunge in asset values 2008-09.
I maintain that Obama and Bernanke did heroic work and prevented something similar to the GD.
Response to Enrique (Reply #7)
Thu Jan 17, 2013, 04:47 PM
Autumn (16,900 posts)
9. It's not a scandal. Just business as usual
no matter which politician is in charge. They do not represent the people, other than an occasional bone tossed out there.