Obamanomics: An Evaluation
Abstract
President Obama believes that he was dealt a bad hand and that he inherited the worst economy since the Great Recession. However, the data shows that there are three other administrations that faced similar or higher unemployment rates than the Obama administration. We compare the Obama administration’s performance to these three other administrations, as well as to those of the last 8 decades. Our criteria is simple: the average performance and average improvements of the Misery Index and the stock market returns. The former we use as a proxy for the impact of the policies on labor income and the latter on the returns on capital. The results are surprising. While the Obama administration ranks quite ...
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