Not even the most die-hard, partisan Democrats would dare argue that the Obama recovery has been especially vigorous. Instead, they argue that the new president was dealt an impossible hand.
But was he?
Nearly three years after the Great Recession officially ended, the jobless rate is still above 8 percent — the longest stretch of such high unemployment since the Great Depression. Add back in all the discouraged job seekers and the part-timers who wished they had full-time gigs, and the unemployment rate is just shy of 15 percent.
While the economy is growing, it’s not growing rapidly. At this point in the typical post-World War II recovery, the economy was growing at an average pace of nearly 5 percent. The Obama recovery has managed just over 2 percent average annual GDP growth.
