Barack Obama
Related: About this forumEconomically, Could Obama Be America's Best President?
The auto rescue plan has worked. American car manufacturers are still dominant and employing millions directly and in supplier companies. Wall Street reform has been painful but it has re-instated faith amongst investors .
. The deficit is now only 4% of the GDP, down from over 10% at the end of Bushs administration . major strides in health care reform something no other President has accomplished has given Americans more faith in their future, and an increased willingness to invest.
By all measures, President Obama has outperformed every modern President.
Follow the link to Forbes here.
http://theobamadiary.com/2013/05/20/profiles-of-the-team-part-4/
BBBB Firstly, lets review just how bad things were in 2009. In 2000 America was completing the longest bull market in history. But by the end of President Bushs tenure the country had witnessed 2 stock market crashes, and the DJIA had fallen 58%. This was the second worst market decline in history (exceeded only by the Great Depression,) and hence the term Great Recession was born.
In 2000, at the end of Clintons administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.
Significantly, in 2000 America had a budget surplus. By 2009 surpluses were long gone and the country was racking up historic deficits as taxes were cut while simultaneously outlays for defense skyrocketed to cover costs of wars in Iraq and Afghanistan. Additionally, banks were on the edge of failing due to unregulated real estate speculation and massive derivative losses.
Q- Bob, what policies do you think were most important toward achieving todays new highs?
BBBB Firstly, lets review just how bad things were in 2009. In 2000 America was completing the longest bull market in history. But by the end of President Bushs tenure the country had witnessed 2 stock market crashes, and the DJIA had fallen 58%. This was the second worst market decline in history (exceeded only by the Great Depression,) and hence the term Great Recession was born.
http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/
FYI: This is Posted on the Barack Obama Group!
PDJane
(10,103 posts)aristocles
(594 posts)The stock market is being held up by fiat dollars printed by the U.S. Treasury. A bubble about to burst.
sheshe2
(86,101 posts)I stated that clearly in the OP
Kolesar
(31,182 posts)LostOne4Ever
(9,552 posts)IrishAyes
(6,151 posts)Agnosticsherbet
(11,619 posts)But if the measure of the economy is in the middle class and working class who still suffer from relatively high unemployment, underemployment, stagnant wages, high health care costs, high costs of food, and high cost of housing, then he doesn't come close.
He is better than Bush I or II, and much better than Hoover. About the middle of pack.
IrishAyes
(6,151 posts)Would you enjoy it if I barged in on the Atheist/Agnostic group and started preaching? Why not return the consideration you'd demand for yourself?
Agnosticsherbet
(11,619 posts)I came from the Latest threads and never looked at the group.
Cha
(302,847 posts)Which is a miracle considering how bush-cheney shitcanned the surplus and left our treasury and Country in tatters. Not to mention the goperatives in gov sworn to hold PBO to "one term". And, now want to knife(metaphorically) him anyway they can.
thanks for the links, She!
sheshe2
(86,101 posts)You are welcome~
IrishAyes
(6,151 posts)unblock
(53,915 posts)there's more to life (and the economy) than the stock market, but this should (but won't) put to rest the lie about republicans being better for the stock market.
ucrdem
(15,700 posts)See below, and speaking from experience of the Clinton era, this trickle-down will soon be a gusher, barring catastrophe. So fasten your seat belt because we're in for some good times all around.
ucrdem
(15,700 posts)good grief, even optimism is up:
For the first time since the 100-day mark of Obamas first term, most say they are optimistic about the direction of the economy. More than half, 56 percent, say the economy is on the mend, the most to say so in polls since 2009.
http://www.washingtonpost.com/politics/obamas-rating-steady-amid-controversies-likely-buoyed-by-rising-economic-hopes/2013/05/20/5509c03e-c17f-11e2-bfdb-3886a561c1ff_story.html?hpid=z2
And is the economy ever on the mend. From your Forbes link sheshe -- unemployment down, consumer confidence up:
. . . and markets up, up, UP!
sheshe2
(86,101 posts)I could not post those graphs here.
Thank you for bring them over! Looks good doesn't it.
Welcome to DU and the BOG, ucrdem! We can sure use you here!
sheshe
ucrdem
(15,700 posts)I hope you'll consider reposting this in GD before there's outbreak of mass depression or worse. They don't seem to have gotten the message and there's been a rash of alarmingly sad posts.
p.s. I couldn't get the graphs to work either until I loaded them onto imageshack so these links should work.
unblock
(53,915 posts)sorry, if this is an overly obscure cross-lingual pun....
1StrongBlackMan
(31,849 posts)in the GD because most will ignore the positive that is posted and focus like a laser on some economic measure that is not performing as well (whether factual, imagined or anedoctal) and that will be that.
ucrdem
(15,700 posts)That's just what happened to my feeble attempt. Here it is in case you want to give it a kick in the can:
http://www.democraticunderground.com/10022882705
1StrongBlackMan
(31,849 posts)who works harder scanning the financial news the closest, seeking out bad economic news ... the gop or the "progressives" here at DU?