In January, Obama responded to reports in the media suggesting that the U.S. economy was showing signs of cracking. He famously said:
“The United States of America, right now, has the strongest, most durable economy in the world. … Anyone claiming that America’s economy is in decline is peddling fiction.”
In fact, if the final six months of Obama’s final term don’t dramatically change upward, he will become the first President ever to not experience a single year of at least a 3.0% gain in GDP.
The media may be helping prop up Obama’s fantasy about the economy, but Federal Reserve chairman Janet Yellen obviously did not get the memo. She announced on April 27 that The Fed would not raise interest rates, adding that the economy is still “quite weak by historical standards.”
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