Obama First President Since Great Depression Not to See 3% GDP Growth
(CNSNews.com) - With the Bureau of Economic Analysis reporting on Tuesday [1] that real Gross Domestic Product grew at an estimated 1.6 percent in 2016, President Barack Obama remains the first president since the Great Depression not to see a single year with at least 3 percent growth in real GDP.
The economic contraction that started what is known as the Great Depression began in August 1929, according to the National Bureau of Economic Research [2]. That contraction ended in March 1933.
Depending on how you measure the Great Depression, it either ended then or seven or eight years later near the beginning of World War II. But whichever date is picked, the Great Depression ended in a year in which Franklin Roosevelt served as president, and Obama remains the only president since then not to see a year of 3 percent economic growth.
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