Corporate Profits Soar under Obama
Corporate bashing of President Barack Obama’s economic policies have belied the fact that companies are enjoying huge profits since the Democrat came into office.
Under Obama, corporations’ after-tax profits have leaped 171%, which is more than under any president since World War II, according to Bloomberg News.
Corporate profits are also at their highest level relative to the size of the economy since the government began keeping records in 1947.
Companies are doing better now than under President Ronald Reagan or during the late 1990s Internet expansion.
But business leaders refuse to credit Obama for their good fortune. Instead, they cite low labor costs resulting from high unemployment, the Federal Reserve’s generous lending policies, and their own skillful management of their enterprises.
Nonetheless, the corporate profit figures are consistent with other economic news, including the fact that the stock market has risen 66% since Obama took over the presidency and that the stock market historically performs better under Democratic presidents.
To Learn More:
Corporate Profits Soar as Executives Attack Obama Policy (by David J. Lynch, Bloomberg)
Stock Market up 68% under Obama (by Noel Brinkerhoff and David Wallechinsky, AllGov)
Corporate Profits Rise…but Wages Fail to keep Pace with Inflation (by Noel Brinkerhoff, AllGov)
Stock Market Does Better with Democratic Presidents (by David Wallechinsky, AllGov)
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