There is much debate as to the ‘effectiveness’ of the current administration’s economic performance as it relates to Americans’ ‘general well being’. Ideally, the Federal Government would have minimal influence in this area regardless of who is president. This has not been the case since FDR’s New Deal transformed America to a nation whose economy is managed by the federal government.
However, some presidents have been more successful than others in policy that improves the lives of Americans. One can see this by examining the negative impact of president Obama’s Marxist leanings and compare Obama’s economy with that of another president who also faced a severe recession at the beginning of his first term – that being Ronald Reagan.
To make the comparison I examined household income of each quintile of households using www.census.gov (Source: U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplements) and let Excel calculate the percentage of income growth for each quintile during each president’s tenure. ((Pres_Year – Prev_year)/Pres_Year))
Here are two bar charts showing the performance of each president. One can clearly see Americans have not fared as well under president Obama as they did under president Reagan.