Chart of the Day
Posted at 12:45 p.m. on Feb. 1
– Ezra Klein builds this chart comparing quarterly GDP growth from President Obama’s actual spending policies (in blue) and what growth would have looked like had Obama spent at President Reagan’s levels (in red).
“Whereas total government spending dropped in 10 out of the 16 quarters that comprised Obama’s first term, it rose in 13 out of Reagan’s first 16 quarters… I took Obama’s GDP growth, netted out the effect of government spending and investment, and then added the total government spending and investment numbers — which include state and local government — from Reagan’s first term. The result is a significantly better economy, with growth since 2010 averaging 3.2 percent rather than 2.4 percent.”