Despite his proclamation that he “saved the world from a Great Depression,” the fact is that Obama will be the first President in history to not see one single year of 3% GDP growth – but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth “by a percentage point or two.” And then in a final affront to fact, Obama dismisses the conclusion of the movie, “The Big Short” proclaiming that he reined in Wall Street, overhauled the banking system, and made water from wine “the financial system substantially more stable.”
“Saving the world from a Great Depression – that was quite good.” – Barack Obama
Defending the sheer arrogance (and ignorance) of such a statement, he added, “I’m proud; I think I’ve been true to myself during this process.”
Truth must have a different meaning where he comes from, but of course, anyone doubting the truthiness of such a statement was hacked down to size and labeled a “peddler of fiction.”
And now, as The Independent notes,
The interview, with the paper’s Sunday Magazine, was part an exercise in patting himself on his own back…
“I actually compare our economic performance to how, historically, countries that have wrenching financial crises perform,” he said of the early days of his presidency. “By that measure, we probably managed this better than any large economy on Earth in modern history.”
But most would say his economic performance was simply the worst…
Obama is First President Ever to Not See Single Year of 3% GDP Growth
According to Louis Woodhill, if the economy continues to perform below 2.67% GDP growth rate this year, President Barack Obama will leave office with the fourth worst economic record in US history.
Assuming 2.67% RGDP growth for 2016, Obama will leave office having produced an average of 1.55% growth. This would place his presidency fourth from the bottom of the list, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore Roosevelt (1.41%)
Still, Obama went on with the self-congratulatory tone – this time however admitting that it was all a snow-job…
“I mean, the truth of the matter is that if we had been able to more effectively communicate all the steps we had taken to the swing voter,” he told the interviewer, Andrew Ross Sorkin, “then we might have maintained a majority in the House or the Senate.”
Obama says that his failure to better communicate was in part due to being overwhelmed at the time.
“We were moving so fast early on that we couldn’t take victory laps. We couldn’t explain everything we were doing. I mean, one day we’re saving the banks; the next day we’re saving the auto industry; the next day we’re trying to see whether we can have some impact on the housing market.”
Perhaps the following nine charts will provide a little more color as just what “saving the world” looks like for President Obama (red shaded section is his ‘reign’) and why the American public just would not fall for his now-admitted line of BS..
But that’s not all, in his New York Times’ diatribe, President Obama takes further aim at more fiction-peddlers – those of “The Big Short” movie …as Bloomberg reports,
Reflecting on his economic legacy, President Barack Obama disputes the conclusion in “The Big Short” movie that nothing changed on Wall Street after the 2008 economic meltdown, and maintains that his policies have helped stabilize the financial sector.
…Obama bemoaned his fractious relationship with Wall Street, said finance is absorbing more science and engineering talent than it should, and speculated he might have gone into business if not politics. But he has little patience for criticism from business leaders.
So question nothing, and reject reality in favor of Obama’s propaganda. If you had believed him, we would all being do so much better now!!