January 17, 2013

Corporate profits have soared under Obama

Bloomberg - U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.

Profits are more than twice as high as their peak during President Ronald Reagan’s administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy.

Business leaders cite low labor costs in an era of high unemployment, the Federal Reserve’s easy-money policies, and their own management savvy for the profit boom. Prosperity has come in spite of the president, not because of him, they say.

1 comment:

Capt. America said...

"Relative to the size of the economy" renders the statistic almost meaningless. There is no limit to how much the real economy can shrink, but at some point very ugly rapid change must come.