Pawlenty INSISTS the economy can grow at 5% per year for 10 years!!! Last time it happened? FDR...

[Change Happens]

Amazing! He said we can do it again, but never mentions FDR days :) he only talks about something near 5% growth in the 80's and 90's!

Snip

The data show that between 1930 and 1933, the U.S. endured four straight years of horrific contraction. The economy shrank by more than a quarter.

But then look what happened. The panic stopped and growth resumed at an impressive pace. As follows:

1934: 10.9 percent

1935: 8.9 percent

1936: 13.0 percent

1937: 5.1 percent

By 1936, the U.S. economy had regained the ground it lost during the devastating 1929-33 period. In 1937, the economy slipped into a sharp recession and shrank 3.4 percent. But it returned to growth, and the economy enjoyed several more years of extremely rapid growth.

1939: 8.1 percent

1940: 8.8 percent

1941: 17.1 percent

1942: 18.5 percent

1943: 16.4 percent

1944: 8.1 percent

By 1944, the U.S. economy was twice as large as it was in 1930 and almost three times the size it was in 1933.


http://finance.yahoo.com/news/Pawlenty-5-Percent-Growth-dg-4192262000.html;_ylt=Ah6SvF1Gs7rrFtnXzGyfr.a7YWsA;_ylu=X3oDMTFmMXFtbDFwBHBvcwMzBHNlYwNleHBlcnRPcGluaW9uRHluYW1pYwRzbGsDcGF3bGVudHlzNXBl?x=0

[JDPriestly]

1. All thanks to the government directly employing lots of people in low-paying

public service jobs. My father worked in a government program. Part or all of his pay went to his family. It worked. It raised all boats. FDR was the best.

[Change Happens]

5. Exactly, I think Obama should issue executives orders when possible to build things!!!

[DJ13]

2. It IS possible, see China for an example

Not that a con will ever consider using the government in that way to stimulate the economy.

[taught_me_patience]

3. Maybe he meant nominal growth?

If that's the case, then, yeah it's possible. If inflation is 10%, then nominal GDP growth will nearly guaranteed 5%.

[Change Happens]

6. It is his economic plan...He assumed 5% per year for 10 straight years...

Our economy is way too big to do this!

[taught_me_patience]

7. Yeah, 5% real growth is nutz and impossible!

5% nominal growth is possible, though.

[Springer9]

4. That's peanuts. Nancy Pelosi can grow it 62% a year!

You got nothin' T-Paw.