According to the US Bureau of Economic Analysis, average growth rate of the US was 3.2% between 1947 and 2017.
Again, as with the job growth rate, GDP growth rate was pretty darn good under Bill Clinton.
But the first few years of Reagan were pretty good too, but then followed a not-so-good period for GDP (while Wall Street went wild).
And Obama did pretty good too after the Roger Stone-enabled financial crisis of 2007/8.
But can Presidents take such credit?
Is there an inherent growth rate in the US economy, which is only temporarily nullified during crises? There seems to be. After a crisis, GDP picks up quickly but then stabilises, but then another crisis occurs, and the cycle repeats.
What under Carter caused that spike at around 1977/8 followed by that spectacular disastrous collapse (which possibly explains why the USA voted for an actor in 1980)? Was that spike due to Carter's policies, or something else out of his control? Under Reagan the economy recovered in the first few years, but then GDP growth rate began to slow. Then another crisis, and Bill Clinton did pretty darn good (jobs, jobs, jobs, together with steady GDP growth and a budget surplus). And then George W Bush and the Roger Stone-enabled financial crisis of 2007/8. Obama got the economy back on track, but suffered a decrease towards the end of his presidency. And now Trumpers are praising Trump for a GDP growth rate that is less than the average.
source: tradingeconomics.com
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