The Obama economic record since the Bush Recession

In summary Since Jan 2009 (basically since he took office)

• The deficit is now $927B less than it was in 2009
• A Net Gain of 6.8 million jobs
  
• Stock Market (DOW avg) up 110%
  

This is an incredible record. So how can you argue with this given the situation we were in when he took office? He's done an outstanding job.

Obama does have an economic story to tell. Unemployment has dropped from a high of 10 percent in 2009 to 5.9 percent last month. The economy grew last quarter at a better clip than many expected. The stock market has rallied to record highs. He inherited a federal deficit of more than a trillion dollars; the deficit has been cut by more than half to $486 billion.


Source


Barack appears poised to leave Hilary a magnificent record of accomplishments from a Democratic president to run on. Let's not get bogged down in stuff that while important is not as important as the American economy and it's drastic improvements.

"When I took office, the deficit was nearly 10 percent of our economy. Today, it's approaching 3 percent."

— Barack Obama

What specific things did Obama do to cause these changes?

What specific things did Obama do to cause these changes? Originally Posted by Submodo

Before I answer that question let me ask. Aren't you HAPPY for our country Never mind don't answer I know the answer. Obama did all of this for the country we all love so much without the help of congressional republicans who stone-walled and turn-coated him at every chance.

To answer your question it's been a combination of things. Different variables consisting of a combination of good policy, improving international conditions along with optimistic business and consumer confidence levels.

Not saying he hasn't made some mistakes along the way but from a policy perspective:

• The American auto bail-out was a success with millions still employed

• Wall street reform to some degree helped restore investor confidence resulting in stable markets compared to when he took office

• Tax policy has (after - tax income) reduced income inequality at levels that beats both Clinton and Bush's tax policies

• Enacting fair regulation policies to ensure safety and remove burdens from businesses

• Major advances in Health care reform to eliminate waste and help reduce debt

• Improved Foreign policies / international relations thus opening doors for others to willingly work with the U.S

• Ended major wars (lowering global financial burden) and have kept us relatively safe (ISIS type threats will always exist under every POTUS so no big deal especially considering he killed Osama and dismantled the real terror network in Al-queda)

All of this has given American business and workers more confidence and willingness to invest thus improving overall economic conditions.

In summary Since Jan 2009 (basically since he took office)

• The deficit is now $927B less than it was in 2009
• A Net Gain of 6.8 million jobs
  
• Stock Market (DOW avg) up 110%
  

This is an incredible record. So how can you argue with this given the situation we were in when he took office? He's done an outstanding job.

Obama does have an economic story to tell. Unemployment has dropped from a high of 10 percent in 2009 to 5.9 percent last month. The economy grew last quarter at a better clip than many expected. The stock market has rallied to record highs. He inherited a federal deficit of more than a trillion dollars; the deficit has been cut by more than half to $486 billion.


Source


Barack appears poised to leave Hilary a magnificent record of accomplishments from a Democratic president to run on. Let's not get bogged down in stuff that while important is not as important as the American economy and it's drastic improvements.

— Barack Obama
Originally Posted by Zanzibar789

You do realize the massive deficit spending is an economic stimulus, as is a loose money policy.(QE2 pumping money into the economy - printing it, essentially)
If the debt had been reduced, and the money supply stayed the same, then I would have been impressed.
How many trillions did he add to the National Debt?

You do realize the massive deficit spending is an economic stimulus, as is a loose money policy.(QE2 pumping money into the economy - printing it, essentially)
If the debt had been reduced, and the money supply stayed the same, then I would have been impressed.
How many trillions did he add to the National Debt? Originally Posted by Jewish Lawyer

The results speak for themselves. His spending to get us out of debt is called Stimulating the Economy. I still don't get how you guys proposed he work us out of the recession that Bush caused. Obama did a masterful job with what he had to work with and you fucking know it. Get over yourself already.

Just be happy for your country and stop deflecting and down playing his accomplishments. He just needs to keep it going in the right direction.

At some point, that debt has to be retired.

I also notice that you very carefully don't mention the labor market nonparticipation rate.

If you add that to the unemployment rate, and look at THOSE numbers, you find that this is as bad as it has been for a LOOOOOONG time. You have to go back to Jimmy Carter's one-term presidency to find a worse job market.

At some point, that debt has to be retired.

I also notice that you very carefully don't mention the labor market nonparticipation rate.

If you add that to the unemployment rate, and look at THOSE numbers, you find that this is as bad as it has been for a LOOOOOONG time. You have to go back to Jimmy Carter's one-term presidency to find a worse job market. Originally Posted by Sidewinder

I always go back to root cause analysis when judging records. What did Obama inherit and are we seeing improvement?

The answer is YES. Spin away if you must

Obama has done a terrific job and everybody wishes he could stay for four more years.

Only 49% of Americans have any money in stocks at all, according to the latest data from the Federal Reserve. That figure includes everyone invested in retirement funds (think pensions and 401(k) plans) as well as those who take the time to buy specific stocks such as Apple (AAPL, Tech30), Ford (F) and Facebook (FB, Tech30).

"Part of the reason there is so much discussion about income inequality is there is a group of people who participated in the stock market over a period where it nearly tripled, and there's another group of people that didn't," said Mark Grinblatt, a professor of finance at UCLA's Anderson School of Management.
http://money.cnn.com/2014/09/18/inve...tors-get-rich/

It takes a real Kool Aid sotted lib-retard like you, zany, to on the one hand complain about income inequality and then, on the other hand, take credit for and brag about the artificially stimulated rising stock market that is making the 1% richer. You're a real moron, zany.

47% of the jobs created are minimum wage... if memory serves me.
The federal reserve balance sheet is 4 trillion plus.
Global de Dollarization is reality.
50 million plus on food stamps.
The markets are up due to buy backs, QE and ZIRP....
That's the fed buying US debt.
Over 100 million people in America depend on government assistance in
one way or another. 17.8 trill and by February 2015 22 trill in debt.
220 plus trill in unfunded liabilities....
I could go on but... a recession. Lol
America is in a hardcore depression.
Once the petrodollar is no more then swhtf...
Also monetization and when ZIRP ends!

• The deficit is now $927B less than it was in 2009
  
  Nope. This is the result of lower interest rates for government borrowing. The Federal Reserve Bank caused this.
  
  
• A Net Gain of 6.8 million jobs
  
  
  Nope. That's 100,000 per month on average over 5.5 years. Most all presidents in the last 100 years have averaged this rate or better, so BHO can't be the cause.
  
  
• Stock Market (DOW avg) up 110%
  
  
  Nope. The Federal Reserve Bank caused this. With interest rates on money markets and bonds so low, people are forced into the equity markets to get at least inflation level return on their money. And firms are buying back their own stock shares (using money borrowed at low low interest rates) at a record pace, driving the market up as well.

Originally Posted by Zanzibar789

For the millionth time, correlation is not causation.

The results speak for themselves. His spending to get us out of debt is called Stimulating the Economy. I still don't get how you guys proposed he work us out of the recession that Bush caused. Obama did a masterful job with what he had to work with and you fucking know it. Get over yourself already.

Just be happy for your country and stop deflecting and down playing his accomplishments. He just needs to keep it going in the right direction. Originally Posted by Zanzibar789

I am happy for my country, idiot. That is why I moved here.

If it were not for the oil companies drilling on private lands, fracking and exploiting the shale; Obama would be the President over the 2nd Great Depression.
The oil and energy companies have flourished in spite of Obama and the liberal whackos doing as much as they can to destroy then and our energy based economy.

Meanwhile, our government is spending a ton of money on the solar panels we already paid to build. Just more government waste of our tax dollars to crony capitalism and the desire of the libtards to pick the winners and losers.

If it were not for the oil companies drilling on private lands, fracking and exploiting the shale; Obama would be the President over the 2nd Great Depression.
The oil and energy companies have flourished in spite of Obama and the liberal whackos doing as much as they can to destroy then and our energy based economy.

Meanwhile, our government is spending a ton of money on the solar panels we already paid to build. Just more government waste of our tax dollars to crony capitalism and the desire of the libtards to pick the winners and losers. Originally Posted by The2Dogs

True, the oil and gas industry has probably saved the US from a total disaster.