Obama Makes Stunning Math Error Touting GDP Figures - The American Spectator | USA News and Politics
Obama Makes Stunning Math Error Touting GDP Figures

President Obama, speaking to today’s Republican retreat in Baltimore, had this to say about this morning’s GDP numbers:

“The latest GDP numbers show that our economy is growing by almost 6 percent. That’s the most since 2003. To put that in perspective, this time last year, we weren’t seeing positive job growth, we were seeing the economy shrink by about 6 percent. So you’ve seen a 12 percent reversal during the course of this year.”

Oh, where to start? For the sake of ease, let’s just say the GDP of country A is $100. If it declines 6 percent, that would bring it down to $94. Then, if it bumps back up by 6 percent, that brings the GDP to $99.64. That is not, in fact, a 12 percent reversal!

Sign Up to receive Our Latest Updates! Register

Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://spectatorworld.com/.

Be a Free Market Loving Patriot. Subscribe Today!