Things are really looking up on the economic front; stock markets are at record highs, hundreds of thousands of jobs are being added, and everything's just unbelievably rosy. And unbelievably is the exact word for the situation, as the graph by prominent economist Larry Summers illustrates:
The projections are those of the Congressional Budget Office for each of the past few years affected by the "great recession", and as you can see, their estimates - while initially bearing a close resemblance to reality - aren't even close to what's really happening.
Every year brings a lowering of expectations, and every time our actual GDP fails to meet even this low bar.
And given this administration's antipathy toward energy production along with its negative stance on a host of other issues, this decline may very well become permanent. After all, he was initially elected on a platform of bringing "fundamental transformation" to America. Presumably, his supporters thought that would be a positive thing - but he never said that it would be. He simply promised transformation, and it appears that he's delivered.