L L wrote:
yesIguess wrote:
If you have a few minutes, would you mind explaining to me how Obama's economic policies contributed to the current state of the economy today? What specific policies did he put in place to encourage growth in a capitalist, consumer based economy?
I could list in specific detail the policies from the right that has encouraged this growth, but I'd be interested to hear how Obama made this happen.
Leading up to the November 2008 election the US economy was in shambles. Obama was elected and took office in 2009.
His administration put in a large stimulus program. This included a number of tax breaks to help businesses and funding ordered for infrastructure.
The American car companies were failing and they put in a rescue plan that re-orged Chrysler and Chevy and gave a bump to Ford. Those companies along the the auto supply chain and US imports rebounded.
There was a cash for clunkers program that also helped sales.
For two years there was a temporary 2% reduction in employer SS withholding which was a direct benefit to lower wage earning Americans. And that help consumers spend which helps businesses.
That was followed by making the Bush tax cuts permanent for everyone making under $250K.
The ACA was passed which gave more Americans access to healthcare and healthcare providers ad insurance companies more customers.
The inherited 2009 budget had a huge deficit, mostly from the Great Recession. But the deficit was educed for 6 years in a row after that. All while having monthly job gains in that time.
And more importantly, the Obama administration did not make any major mistakes to set the economy or the federal budget backwards like the backfiring tariffs and budget breaking corporate tax breaks.
But Hillary . . .
Seriously though well done. Doubt you'll get many sensible responses.
