Obama's Economic Policy

Essay by candyman8287College, UndergraduateB, November 2014

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Nussbaum 1

Jordan Nussbaum

GOV 330K

Professor Buchanan

May 7th, 2014

Obama's Economic Policy

Many challenges we face as a nation needed to have a comprehension plan with yearning results. One of our deepest issues concerning every hard working U.S. citizen, Economy, was moving into a recession due to decreasing economic mobility, huge deficits, dwindling employments, and health care costs. Along with the house market crash and banking that would prove too much for this ambitious President on his "Honeymoon Period". Before identifying the features of his economic policy performance and the evidence shown by Obama, I will assign Obama a letter grade of B- for his performance in the area of economic policy.

When we go over Obama's economic performance, it is imperative to take notes of his 2nd presidential term, the likely results of his economic recovery plan. In his recovery plan, there were tax rebates to encourage consumer spending, implementing stimulus for small business which is used to reduce capital gains tax for small business investors and generating jobs, and increased lending to banks.

The goal from the stimulus recovery plan was to give $787 billion to the U.S. economy to soften the recession but not blow up the country's debt. "Similarly, in the post 11 depression recessions….or one fifth" (Ferrara, Forbes). In Peter Ferrara's article on Forbes website, How Does President Obama's Recovery Compare to Those Of Other Presidents, he stated that the real GDP grown only 3% above from where the recession started after 4 years compared to Reagan's recovery, which is over 20%. Along with the soaring poverty line to 50 million and the falling middle class incomes to make this the worst recovery from recession since the Great Depression. It is typical to see the median household income fall during the recession but...