President Barack Obama needs a reality check. Earlier this month in Indiana, he accused his critics of ignoring the “facts” and purporting “myths” about his economic record. But if Republicans are truly ignoring the facts, Obama should consider it a blessing.
A quick look at the facts will show that Obama’s economic performance has been weak—even by his own standards.
In its budget for the fiscal year 2010, the Obama administration estimated that real gross domestic product would decline in 2009 by 2.8 percent that year and then increase by 2 percent in 2010.
Furthermore, the White House forecast that by 2011 its massive stimulus program would start paying off, with growth accelerating to 3.8 percent that year and then soaring above 4 percent from 2012 to 2014.