Will Barack Obama become the first president in the post-World War II era during whose term real gross domestic product never grew in any quarter at an annual rate greater than 4 percent?
With less than optimistic recent forecasts from the Federal Reserve System's Federal Open Market Committee and the Congressional Budget Office, it now seems like a very real possibility.
Having been inaugurated in January 2009, Obama has served as president in 10 quarters. Without doubt, he came into office in a severe recession. In three of the quarters of 2008, according to the U.S. Bureau of Economic Analysis, real GDP grew at a negative annualized rate, dropping as low as -8.9 percent in the fourth quarter of that year.
At the beginning of Obama's term, real GDP remained negative in the first two quarters, hitting -6.7 percent in the first quarter of 2009 and -0.7 percent in the second quarter.
But two full years have passed since then.
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