Corporate Profits Rose Faster Under Obama Than During Reagan, Clinton Eras

politico.com:

Profits have surged 62 percent from the start of 2009 to mid-2010, according to the Commerce Department. That is faster than any other year and a half in the Fabulous '50s, the Go-Go '60s or the booms under Presidents Ronald Reagan and Bill Clinton.

Under another president, especially a Republican president, the data on corporate profits would be envied. George W. Bush, who dedicated a good deal of his presidency to tax cuts aimed at boosting business profits, probably would have loved such results. It took Bush nearly four years to post the gains that Obama has managed in less than half the time.

Read the whole story: politico.com

Comments

[mrcontinental]

09:26 AM on 11/02/2010

Profits are up... along with layoffs and outsourcing.

[ttowse]

08:53 AM on 11/02/2010

Corporate bribes to Obama called campaign contributions are paying off like good bribes do earning all that interest. Obama was played and we all lost. Use your mo jo and get your corporate buds to hire Americans Obama. Oprah can come out and use what she's got left too, if she can fit through the door.

This is a tragedy and a comedy. Hollywood can't write scripts this good.

[Duppy]

05:53 PM on 11/01/2010

Here is another positive story not being told by Obama's PR folks. Our president has achieved so much in his short time in office but somehow, the message is not getting out. Obama needs a new PR team. They suck !

[Darcman]

05:20 AM on 11/24/2010

Not to mention the news that GDP for Q3 has been revised up from 2% to 2.5%!

[Cranmer1549]

04:01 PM on 11/01/2010

Why is this anything for the Obama adminstration to want to be proud of? All this means is that corporations are hoarding profits and not hiring people.

[Duppy]

05:54 PM on 11/01/2010

Yes but at the same time, they are saying he is anti business. Get it ?

[Cranmer1549]

08:19 AM on 11/02/2010

I get it. I find it hilarious every time a TPer says that Obama is a socialist.

[Steve Rockett]

12:40 AM on 11/01/2010

The tea gaggers and republicans don't want to hear this. They want the economy to fail under Obama. It sounds like, yes it is true, the stimulus is working. Old wet tea bags leave a nasty stain where ever they lay.

[kinogod]

07:07 PM on 10/31/2010

Which confirms the corporatecentric tilt of this admin and its current trouble with the real people that lifted this admin to power. It also shows the depth of failure of the obama communications team to effectively get their message out and take on the war waged against it by faux news. Probably theee worst communications team in recent memory. Even when the admin does good, no one hears about it.

[CaliTLC]

05:45 PM on 10/31/2010

Yet - it's the GOP that gets major corporate backing. Hmm.

[redsongia]

05:33 PM on 10/31/2010

Duh, of course corporate profits rose. Everyone was whiped out in the 4th quarter of 2008 before Obama took office. These are rebound "percent changes" not long term real change.

[msjimmied]

02:05 PM on 10/31/2010

Fire people, jack up the prices of commodities, should make for a stellar fantasy of growth for RepubliCorp.

"Martin Bodenstein (an econ Ph.D.) argues that oil price shocks (i.e., surges in the price of oil such as the one we are about to experience courtesy of a fresh trillion in liquidity about to be unleashed by the Fed) are... wait for it... beneficial to GDP and stimulative to the interest-rate sensitive parts of the economy. To wit: "In fact, if the increase in oil prices is gradual, the persistent rise in inflation can cause a GDP expansion....the Fed "actually welcomes the current surge in the prices of many of the staples of everyday life; that it actually exults in the drain being exerted on family budgets; that it revels in the squeeze on profit margins being suffered by already-struggling small businesses, because it imagines this will serve to lower the reckoning of the ethereal construct of a generalized, future real interest rate and that this alone will serve to shower riches upon all who are presently suffering, in comparison for the present woes."

http://www.zerohedge.com/article/fed-trying-force-surge-commodity-prices-and-input-costs-diapason-explains-why-precisely-case

[floodmfx]

01:58 PM on 10/31/2010

Wall St caused a global economic crisis -
and Obama made the choice to stand-by Wall St and defend them.

That decision will define his legacy.

[Cranmer1549]

04:03 PM on 11/01/2010

You're absolutely right. Elizabeth Warren is the only person in the whole administration that even pretends to want to take on the banks.

[xilduq]

09:35 AM on 10/31/2010

"Corporate Profits Rose Faster Under Obama Than During Reagan, Clinton Eras"

Maybe because fraudulent accounting has been fully endorsed and encouraged by the obama led government?

has the obama admin perfected the ponzi economic model?

it's easy to increase your net worth when you can count your liabilities as assets. funny how this will work until it doesn't.

[sueinmn]

09:16 AM on 10/31/2010

Sometimes it feels like no one is working for the average person these days. Much to do with policies in place and the watered down legislation that took place under Obama. If we hold the seats needed, they must buckle down for some real legislation WITH NO COMPROMISE just as the GOP promises. Change it must be and Obama had better get his head out of the clouds and get in touch with his base once more. We cannot afford 1/2 measures. As a 99er, it becomes harder each day to stand with him if he refuses to stand with us, but the alternative is much worse. Just these 1/2 measures as Congress takes to lobbying back door deals must end!

[LibertyRoy]

03:25 AM on 10/31/2010

HP criticizes companies left and right for their huge profits in a recession and then says how great Obama is that it happened under his watch. What hypocrisy.

[redsongia]

05:34 PM on 10/31/2010

All irrelevant and deceptive reporting anyway, as so often is the case on economic stories which most don't understand anyway.

[ReleaseDragula]

12:16 AM on 10/31/2010

Time to dust off the "it's bush fault" excuse........................right liberals?

[Steve Rockett]

12:46 AM on 11/01/2010

Did you see the two Bush babies at the ball park as the Giants shut them out tonight? It was really beautiful to watch these lousy presidents in a depression. I am sure they got in free to the ball park. Meanwhile, the SF 49ers won, and what happened to the Dallas Cowboys....they lost. Let's hope this scenario repeats itself on Tuesday and the conservatives go down in flames. Either way, the republicans will have to prove themselves, which they can't do. Payback is a b**ch. Too bad the party of "no" didn't do its job. Now they have the tea gaggers nipping at their snake skin heels.

[Delores Williams]

11:58 PM on 10/30/2010

But he will say, "It's not my fault." Uh, yes it is.