How Obama improved the economy and saved us from a depression

Discussion in 'Politics' started by futurecurrents, Apr 26, 2012.

  1. He pushed through and signed the American Recovery and Reinvestment Act, otherwise known as “the stimulus package,” despite the fact that not one Republican voted for that bill. In addition, he launched, so that taxpayers could track spending from the Act.

    In his first year, the American Recovery and Reinvestment Act created and sustained 2.1 million jobs and stimulated the economy 3.5%.

    He completed the massive TARP financial and banking rescue plan, and recovered virtually all of its costs.

    He created the Making Home Affordable home refinancing plan.

    He oversaw the creation of more jobs in 2010 alone than Bush did in eight years.

    He oversaw a bailout of General Motors that saved at least 1.4 million jobs, and put pressure on the company to change its practices, resulting in GM returning to its place as the top car company in the world.

    He also doubled funding for the Manufacturing Extension Partnership which is designed to improve manufacturing efficiency.

    He signed the Fraud Enforcement and Recovery Act giving the federal government more tools to investigate and prosecute fraud in every corner of the financial system. It also created a bipartisan Financial Crisis Inquiry Commission to investigate the financial fraud that led to the economic meltdown.

    He signed the Credit Card Accountability, Responsibility and Disclosure (CARD) Act, which was designed to to protect consumers from unfair and deceptive credit card practices.

    He increased infrastructure spending after years of neglect.

    He signed the Helping Families Save Their Homes Act, expanding on the Making Home Affordable Program to help millions of Americans avoid preventable foreclosures. The bill also provided $2.2 billion to help combat homelessness, and to stabilize the housing market.

    Through the Worker, Homeownership, and Business Assistance Act of 2009, he and Congressional Democrats provided tax credits to first-time home buyers, which helped the U.S. housing market recovery.

    He initiated a $15 billion plan designed to encourage increased lending to small businesses.

    He created, which allows for online collaboration between small businesses and experts re managing a business. (The program has since merged with

    He played a lead role in getting the G-20 Summit to commit to a $1.1 trillion deal to combat the global financial crisis.

    He took steps to improve minority access to capital.

    He created a $60 billion bank to fund infrastructure improvements such as roads and bridges.

    He implemented an auto industry rescue plan, and saved as many as 1 million jobs. Many are of the opinion that he saved the entire auto industry, and even the economy of the entire Midwest.

    Through the American Recovery and Reinvestment Act, he saved at least 300,000 education jobs, such as teachers, principals, librarians, and counselors that would have otherwise been lost.

    He dismantled the Minerals Management Service, thereby moveing forward to cut ties between energy companies and the government.

    Provided funding to states and the Department of Homeland Security to save thousands of police and firefighter jobs from being cut during the recession.

    He used recovered TARP money to fund programs at local housing finance agencies in California, Florida, Nevada, Arizona and Michigan.

    Crafted an Executive order establishing the President’s Advisory Council on Financial Capability to assist in financial education for all Americans.
  2. Every single one of those facts is a reason to not re-elect him.

    Wasteful spending with the belief economies can be managed by govt fiat.
  3. <iframe width="640" height="360" src="" frameborder="0" allowfullscreen></iframe>
  4. "He oversaw the creation of more jobs in 2010 alone than Bush did in eight years. "

  5. [​IMG]

  6. Bullshit. Obama will the the only modern president (going back at least to Truman) who had FEWER Americans working at the end of his term than at the beginning of it.
  7. So basically Obama and his advisors turned around the crashing economy and stock market in an astonishingly rapid way. Considering how a large ship-of-state like the US resists fast changes in direction, this is quite amazing. Of course some of this was probably inevitable as most crashes usually resolve towards the upside eventually anyway. But there is no doubt that had "he" not acted the crash would have gone on longer and taken longer to recover.

  8. Does anyone think it's odd that the spike in job growth in both years (2010 & 2011) were both in the first quarter?

    Probably 2010 was census workers, 2011 don't know maybe a spike in temp workers of some sort or some fudge factor on birth death model revisions.

    just sayin.
  9. Two fundamental events show up on this chart.

    The Democratic take over of Congress in 2006 & 2008
    The Republican takeover of the House in 2010.
  10. It was business confidence in hiring because the Tea-party had stopped Obama from his plan.

    Also the Supreme Court decided to take up the healthcare law.
    #10     Apr 28, 2012