Forbes Magazine: Obama best economic president of modern times!

[kpete]

SUN SEP 07, 2014 AT 02:15 PM PDT

Hardly a bastion of liberal thought, A Forbes magazine article says Obama not only outperformed conservative hero Reagan, but also has reduced the national debt. Here's the last paragraph of the article:

Obama Outperforms Reagan on Jobs, Growth and Investing

Economically, President Obama’s administration has outperformed President Reagan’s in all commonly watched categories. Simultaneously the current administration has reduced the deficit, which skyrocketed under Reagan. Additionally, Obama has reduced federal employment, which grew under Reagan (especially when including military personnel,) and truly delivered a “smaller government.” Additionally, the current administration has kept inflation low, even during extreme international upheaval, failure of foreign economies (Greece) and a dramatic slowdown in the European economy.

Here's the article at Forbes:

http://www.forbes.com/sites/adamhartung/2014/09/05/obama-outperforms-reagan-on-jobs-growth-and-investing/
http://www.dailykos.com/story/2014/09/07/1327911/-Forbes-Magazine-Obama-best-economic-president-of-modern-times

[MannyGoldstein]

1. Certainly, for Forbes' readership, that's true.

The 1% have benefited incredibly from Obama's policies.

But for the 99%, Hoovernomics hasn't worked this time either.

[Martin Eden]

10. Yes, we shouldn't put much value in the metrics Forbes would use to measure economic health

I'd like to see what the economy would look like if Obama didn't have an obstructionist Congress. His American Jobs bill was never even considered for a vote by the GOP House.

[MannyGoldstein]

11. IIRC, Obama considered his three "free" trade agreements

to be part of his "jobs" legislation, so at least he has that victory.

http://www.whitehouse.gov/sites/default/files/docs/trade_and_exports_record.pdf

Rah.

[Martin Eden]

12. I was referring specifically to the American Jobs Act

which did not include trade agreements
http://en.wikipedia.org/wiki/American_Jobs_Act

Sis. Boom. Bah.

[MannyGoldstein]

13. True, but if you go to Obama's speech to Congress on that Act...

"So, some things we can do on our own. Other steps will require congressional action. Today you passed reform that will speed up the outdated patent process, so that entrepreneurs can turn a new idea into a new business as quickly as possible. That’s the kind of action we need. Now it’s time to clear the way for a series of trade agreements that would make it easier for American companies to sell their products in Panama and Colombia and South Korea -– while also helping the workers whose jobs have been affected by global competition."

I guess that's why I conflated it.

[spanone]

2. k&r...

[Spider Jerusalem]

3. Deficit reduction in a recession/depression is probably bad governance and nothing to be proud of

and I'm not sure "outperforming Reagan by eliminating more jobs" is such an awesome thing either.

[Karmadillo]

4. Of course, Forbes' readers are pretty much OK that the recovery bypassed 90%

of Americans (see thread floating not too far from here). Best to them may not be best to the rest.

[Art_from_Ark]

5. "...outperforming Reagan"

That's a pretty low bar to set.

[rhett o rick]

6. The top 10% are happy with the "recovery" although it's really not a recovery.

Pres Obama has served the 10% well. And H. Clinton-Sachs will follow suit. Kiss the middle class goodbye.

[obxhead]

7. A magazine for the 1%.

Guess it was money well spent for the 1%ers that helped get him elected.

[Rex]

8. But but but but but

butbutbutbut...

[progressoid]

9. Kind of hard to make this a selling point for our party since the "recovery" is bypassing most of us

Great for the wealthy though.

[Number23]

14. "America will create about 2.5 million new jobs in 2014"

This is the best private sector jobs creation performance in American history

This represents 63 straight months of economic expansion, and 25 consecutive months of manufacturing expansion.

ONLY on DU can this be considered something to whine, moan and bray about though the ones doing it are absolutely no surprise. Reagan was no one to emulate but these numbers are nothing to sneer at.