Tim Pawlenty projects in his economic plan that the gross domestic product (GDP) would grow by 5 percent in real (inflation adjusted) dollars every year for a decade. The debate is now raging over whether such projections are realistic, but the more important consideration is whether the growth rate actually achieved by the Obama administration is sufficient. Moreover, unlike in Pawlenty’s case — where we’re dealing with abstract projections — President Obama’s record can be evaluated on the basis of tangible evidence.
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