Still are record number on food stamps despite claims the economy was better. Face it, boy, Obama was a failure.
A failure ONLY if you bailed on the market while he was president ,if you had no IRA no 401K if you lost your job I feel for you ,,,,,,,,,,,,,,,,,,,,,,,,,not really you got what you deserve
We're talking about food stamps. Pay attention. I seriously doubt those using food stamps were effected at all by the market.
I'm not arguing,,, Food stamps went up under Obama but why throw around 45 million ? How many were there with GWB?
and the rest of what I posted had to do with you calling a great man a failure You are so far off base you're not even in the same ball park
I use the 45 million because it was the actual number. With Bush, one would expect those on food stamps to increase. That goes along with losing your job. However, with Obama, you want people to believe that getting a job when you didn't have one can increase the number on food stamps.
He was far from a great man and definitely a failure.
By
Kimberly Amadeo
Updated June 22, 2017
President Barack Obama entered office fighting the
2008 financial crisis. He immediately launched the ambitious
Affordable Care Act, despite backlash. His administration continued battling the
Tea Party Republicans after they gained Congressional majority in the 2010
mid-term elections. Despite these challenges, he accomplished many great things. Here are the top eleven. Find out how they match up to the
2008 "Yes We Can!" campaign promises.
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 when
GDP growth turned positive. In just seven months,
the American Recovery and Reinvestment Act pumped $241.9 billion into the economy. That increased growth to
a robust 3.9 percent rate by early 2010. By March 30, 2011, almost all ($633.5 billion) of the funds were spent.
Obama
bailed out the U.S. auto industry on March 30, 2009. The Federal government took over General Motors and Chrysler, saving three million jobs. It forced the companies to become more fuel efficient and therefore more globally competitive.
2. Received 2009 Nobel Peace Prize
On October 9, 2009, Obama won the Nobel Peace Prize. The Committee lauded "his extraordinary efforts to strengthen international diplomacy and cooperation between peoples." He withdrew troops from Iraq in 2011.
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He
reduced the U.S. nuclear warhead stockpile by 10 percent. (Source: "
Inspires Hope for a Better Future," Nobel Prize.)
3. Reformed Health Care
On March 23, 2010,
Obamacare revolutionized healthcare. Why did
healthcare need to be reformed? Rising costs threatened to outstrip Medicare's ability to pay for it, and contributed to 50 percent of all bankruptcies.
The quality of care was one of the worst in the world. By 2014, the economy benefited from having 95 percent of the population on health insurance. The greater number of people receiving preventive care reduced the number of expensive visits to emergency rooms. For more, see
Obamacare Pros and Cons.
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 Agency 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.
Dodd-Frank directed the
Securities and Exchange Commission and the Commodity Futures Trading Commission. These regulated the riskiest
derivatives, like
credit default swaps and
commodities futures. Dodd-Frank also asked the SEC to recommend how the credit rating agencies, like Moody's and Standard & Poor's, could be improved.
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. For more, see
Obama Tax Cuts.
6. Eliminated bin Laden Threat and Withdrew Troops from Iraq and Afghanistan Wars
On May 1, 2011, Navy SEALs attacked the al-Qaida leader's compound in Pakistan and eliminated Osama bin Laden. Later that year, Obama withdrew troops from the
Iraq War. Three years later, renewed threats from ISIS meant troops had to return. For more, see
Will It Ever End? How the Sunni-Shiite Split Affects the U.S. Economy.
In 2014, Obama wound down the
war in Afghanistan. Ending the wars in Iraq and Afghanistan should have reduced annual military spending. At over
$800 billion, it was the largest
discretionary budget item and one of the leading causes of the
budget deficit and national debt. Instead, military spending remained higher than during the Bush Administration. For more, see
War on Terror Costs.
7. Won 2012 Presidential Re-election
Obama won a second term as president on November 6, 2012. Republican Presidential candidate
Mitt Romney promised to repeal Obamacare and Dodd-Frank. Voters were not sure about eliminating health benefits and regulations against big banks. Romney failed to capture the country's imagination by not presenting a new vision for economic growth.
8. Nuclear Agreement With Iran
On July 14, 2015, Obama brokered a nuclear peace agreement with Iran. In return, the United Nations lifted the economic sanctions it imposed in 2010. For details, see
Iran's Economy: Impact of Nuclear Deal and Sanctions.
9. World's Largest Trade Agreement
On October 4, 2015, Obama's team negotiated the
Trans-Pacific Partnership. If ratified by Congress, it would have replaced NAFTA as the world's largest
free-trade agreement. It would have removed tariffs between the United States and 11 other countries that border the Pacific Ocean.
Obama launched the
Transatlantic Trade and Investment Partnership between the United States and the
European Union. His term ended before negotiations could be finalized. It would have been bigger than the TPP.
10. International Climate Change Agreement
Obama led global efforts to finalize the
International Climate Agreement. It was negotiated in Paris on December 12, 2015. Countries agreed to reduce carbon emissions and increase carbon trading. Members decided to limit
global warming to 2 degrees Celsius above pre-industrial temperatures. Developed countries will contribute $100 billion a year to assist emerging markets. Many developing countries bear the brunt of damage from
climate change, facing typhoons, rising sea levels, and droughts.
At least 55 of the 196 participating countries must now ratify the agreement before it can go into effect. At the 2016
G20 meeting, China and the United States agreed to ratify the agreement. These two countries are the world's largest emitters of greenhouse gases. (Source: "
Climate Agreement Best Chance We Have to Save the Planet," CNN, December 14, 2015.)
Obama announced
carbon reduction regulations in 2014. He enacted the Clean Power Plan in 2015. It reduces carbon dioxide emissions by 32 percent from 2005 levels by 2030. It does this by setting carbon reduction goals for the nation's power plants. To comply, power plants will create 30 percent more renewable energy generation by 2030. It encourages
carbon emissions trading by allowing states that emit less than the caps to trade their surplus to states that emit more than the cap. (Source: "
Obama Just Created a Carbon Cap and Trade Program," Climate Central, August 4, 2015. "
President Obama to Announce Historic Carbon Pollution Standards for Power Plants," The White House, August 3, 2015.)
11. Best Job Creator
Obama is the biggest job-creating President in U.S. history. His policies put 22.309 million people to work from the depths of the recession in January 2010 to the end of his term. That's because unemployment continued to rise even after the recession ended in 2009. It takes a few months of economic growth before businesses are confident enough to begin hiring again.
Since the beginning of his term, he put 17.267 million people to work. That makes him the second best job-creator, following Bill Clinton. Job gains would have been even better if Congress had approved Obama's proposed
Americans Jobs Act. For more, see
Job Creation by President.
Other Accomplishments
Maintained Continuation of Federal Reserve Policy - Obama appointed Federal Reserve Vice-Chair
Janet Yellen to replace Ben Bernanke. She maintained an
expansionary monetary policy that created the lowest interest rates in 200 years. This allowed the early stages of the housing recovery and slow but steady business expansion to continue. For more, see
Relationship Between Treasury Notes and Mortgage Rates.