Um, the stock market is not an economic indicator.
Ok, what about record low unemployment? Is that an "economic indicator?"
You mean the record low unemployment that started under Pres. Obama.
What about record wage growth? Is that an "economic indicator?"
Which jobs are these record wage growths growing under.
What about record housing sales, is that an "economic indicator?"
When did these record home sales start?
Did you want to take a crack at telling us all what economic policies of Barack Obama's it was that caused unemployment to go down?
The unemployment rate shows pretty much the same progression from President Obama to President Trump. The unemployment rate started to climb the last two years of President Bush’s second term and substantially in Obama’s first year as the Great Recession that he had inherited was having a huge impact.Bush’s last four years in office:
December 2005: 4.9%
December 2006: 4.4%, decreased 0.5%
December 2007: 5.0%, increased 0.6%
December 2008: 7.3%, increased 2.3%
Obama’s time in office:
December 2009: 9.9%, increased 2.6%(teeth of the recession)
December 2010: 9.3%, decreased 0.6%
December 2011: 8.5%, decreased 0.8%
December 2012: 7.9%, decreased 0.6%
December 2013: 6.7%, decreased 1.2%
December 2014: 5.6%, decreased 1.1%
December 2015: 5.0%, decreased 0.6%
December 2016: 4.7%, decreased 0.3%
Trump’s through September:
December 2017: 4.1%, decreased 0.6%
September 2018: 3.7%, decreased 0.4%
1. Ended the 2008 Recession
In February 2009, Congress approved Obama's
$787 billion economic stimulus package. It cut taxes, extended unemployment benefits, and funded public works projects. The recession ended in July 2009 when GDP growth turned positive.
2. Modernized the Auto Industry
Obama
bailed out the U.S. auto industry on March 30, 2009. The federal government took over General Motors and Chrysler, saving 3 million jobs. It forced the companies to become more fuel-efficient and much more globally competitive.
3. Reformed Health Care
On March 23, 2010, the
Affordable Care Act revolutionized healthcare, in part by creating a program that offered insurance to people with pre-existing conditions who had been shut out of the insurance system. By 2014, the economy benefited from having 95% of the population on health insurance by mandate.
The greater number of people receiving
preventive care reduced the number of expensive visits to emergency rooms, slowing the
rise of health care costs for everyone. That's because Medicaid reimburses hospitals for emergency care.
Why did
health care need to be reformed? Rising costs threatened to take over the entire
federal budget. It was also the
no.1 cause of bankruptcies. In return, Americans received the worst health care in the developed world. It is the only one of 33 developed countries without
universal health care.
President Donald Trump promised to "repeal and replace"
Obamacare. As of November 2019, he has failed to pass any legislation. But by eliminating the mandate and reinstituting "skinny plans" that don't cover a slew of expensive illnesses, he is
weakening Obamacare even without formal repeal.
4. Regulated the Big Banks
In July 2010, the
Dodd-Frank Wall Street Reform Act improved regulation of eight areas that led to the financial crisis. The Consumer Financial Protection Bureau reduced harmful practices of credit cards and mortgages. The Financial Stability Oversight Council regulated
hedge funds and banks that became too big to fail. The "
Volcker Rule" banned banks from risking losses with their depositors' money. Dodd-Frank clarified which agencies regulated which banks, stopping banks from cherry-picking their regulators.
5. 2010 Tax Cuts
In December 2010, Obama and Congress agreed upon additional stimulus in the form of an $858 billion tax cut. It had three main components: a $350 billion extension of the
Bush tax cuts, a $56 billion extension of unemployment benefits, and a $120 billion reduction in workers'
payroll taxes. Businesses received $140 billion in
tax cuts for capital improvements and $80 billion in research and development tax credits. The estate tax was exempted (up to $5 million), and there were additional credits for college tuition and children.
6. Raised Fuel Efficiency Standards
On August 28, 2012, the Obama administration announced new fuel efficiency standards. He required cars and light trucks obtain 54.5 MPG by 2025.3 That would reduce oil consumption by 12 billion barrels, saving drivers $1.7 trillion. It would also reduce the damage of climate change by lowering greenhouse gases.
The Trump administration promised to roll back these standards.4 But California requires zero-emissions vehicles. Twelve other states adopted the mandate. Major automakers must build cars to meet stricter standards in the European Union and Asia.
Do I really need to go on.
In just seven months,
the American Recovery and Reinvestment Act pumped $241.9 billion into the economy. That increased growth to
a robust rate of 3.9% by early 2010. By March 30, 2011, almost all ($633.5 billion) of the funds were spent.