There’s a lot of talk about the economy these days. Obama fans tell us that things are going great nationally. Roy Cooper fans here in North Carolina tell us the state economy is a disaster. Republicans will tell you, nationally, we’re a disaster, but here at home we’re GREAT. What to believe?
In the first quarter of 2016, personal income for Tar Heel State residents grew at a rate in line with South Carolina and Tennessee residents, but slightly slower than for folks in Virginia. Nationally, North Carolina fell right in the middle of the pack.
In the first quarter of 2016, North Carolina’s real GDP grew at a slightly slower rate than its neighbors South Carolina, Virginia, and Tennessee.
In 2013, the first full year of total GOP control in Raleigh, North Carolina’s GDP grew at a rate of 2.3 percent. (From 2010-2013, it only grew 1.8 percent.) Our economy ranked 17th in size nationally. Our state’s economy jumped to 9th place in size nationally during 2014 and 2015.
Let’s compare that to an era of Democrat reign. In 2002, our economy ranked 12th in size nationally. In 2003, we grew to 9th place nationally. From 2004-2006, we fell to 10th place and sort of got stuck there.
In the second quarter of 2015, our state’s economy was larger than each of the following nations’ economies: Poland, Belgium, Thailand, Sweden, Iran, Austria, and Egypt.
Clearly, we’re not amidst a disaster here in North Carolina. Though, we do have room to improve. The Democrats and their statism had more than a century to work their, um, “magic.”
Let’s look at things nationally. Barack Obama is on track to be the FIRST US president to not experience a whole year of 3.0%-plus growth in gross domestic product.
The years 2005 to 2015 provide the weakest decade of national economic growth since The Great Depression. Here’s a real kicker that should have our liberal comrades sputtering:
[…] However, making the wildly optimistic assumption that 2016 RGDP growth will come in at the CBO’s current forecast (2.67%), Obama will be the only U.S. president in history that did not deliver a single year of 3.0%+ economic growth.
Again, 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 of 39*, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore Roosevelt (1.41%)
No matter what happens in 2016, Obama’s record on economic growth will be considerably worse than that of the much-maligned George W. Bush. Bush 43 delivered RGDP growth averaging 2.10%, with two years (2004 and 2005) above 3.0%.[…]
The FACTS appear to support the assumption of rosy prospects in-state, but a dire situation nationally. As the lies from the drivebys and the SuperPACs start to pour in during this election season, hold on tight to information like THIS.