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President Obama's Economic Lessons


President Obama's Economic Lessons

President Barack Obama's economic lesson are complicated and can contridict eachother. Here are some key points to reconcile and come to your own decision: (these are taken from my notes overtime and a cited, more thourough article is located in our member area.)
  • -Compared to history and current measurements of large countries suffering from a financial crisis the Obama Administration and the US managed better than any large economy on Earth.
  • -Measured against the depths of the financial crisis the economy is much stronger.
  • -Obama was moving from different components of the financial crisis (saving banks, saving auto companies, trying to impact the housing market) and therefore the President never did a "victory lap."
    • -Not doing a "victory lap" and effectively communicating what was occurring cost Democrats the majority in the House and Senate.
    • -Not doing a "victory lap" was to the President's detriment since most people decide how well the economy is doing based on what they "hear."
    • -Interesting paradox: the tools that work are the ones that will make you look like you’re in bed with the banks.
    • -Obama was concerned about hurting the economy by "scaring" Americans.
    • -You get no credit for disaster averted or damage minimized.
    • -70% of Americans say the deficit has gone-up. In fact, the deficit has declined by 3/4 since Obama took office.
  • -This is the first recovery where you actually saw the government work force decline, and that created this massive fiscal drag throughout the recovery.
  • -Many don't realize there was a "stealth stimulus"
  • -The US now has the longest period of sustained job growth on record.
    • -However, a large number of citizens have dropped out of the labor force completely.
    • -Household income is $4,000.00 less than the end of the Clinton Administration.
    • -Millions and millions of people look at that pretty picture of America he painted and they cannot find themselves in it to save their lives.
    • -Despite the gains of the past seven years many Americans have been left behind.
    • -We're doomed to keep on making the same mistakes if we can't describe the what occurred effectively.
  • -We're doomed to keep on making the same mistakes if we can't describe the what occurred effectively.





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