A week after Ronald Reagan’s 100th birthday celebration, comparisons between presidents Obama and Reagan continue.
The conversation began when Obama praised Reagan in a USA Today op-ed. He commended Reagan’s leadership, his confidence in and optimism for America, and his great ability to communicate his vision for the country. Reaganites like myself appreciate these sentiments.
But so far, the differences between the two presidents are still huge. Begin with the economy. Reagan and Obama both inherited deep and brutal recessions. But the first six recovery quarters look completely different for each president.
So far, real GDP has averaged only 3 percent annually for Obama. Employment as defined by nonfarm payrolls has increased by a paltry 121,000.
On the other hand, going back to Reagan’s first six recovery quarters, real GDP averaged 7.7 percent annually while nonfarm
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