Updated on September 24, Summary The numbers are nearly all in now.
Economic policy of the Barack Obama administration President Obama was first inaugurated in Januaryin the depths of the Great Recession and a severe financial crisis that began in His presidency continued the banking bailout and auto industry rescue begun by the George W.
By earlythe economy began creating jobs consistently each month, a trend which continued through the end of his tenure. Bythe law covered approximately 23 million people with health insurance via a combination of state healthcare exchanges and an extension of Medicaid.
The Act also created the Consumer Financial Protection Bureaubut did not breakup the largest banks which had grown even larger due to forced mergers during the crisis nor separate investment and depository banking, as the Glass-Steagal Act had done.
Only a few Republicans voted for the law.
The Great Recession had caused federal government revenues to fall to their lowest level relative to the economy's size in 50 years. At the same time, safety net expenditures including automatic stabilizers such as unemployment compensation and disability payments and stimulus measures caused expenditures to rise considerably.
This drove the budget deficit up, creating significant debt concerns. This caused several bruising debates with the Republican Congress.
President Obama signed the American Taxpayer Relief Act ofwhich included the expiration of the Bush tax cuts for high income earners and implemented a sequester cap on spending for the military and other discretionary categories of spending.
Compared against a baseline where the Bush tax cuts were allowed to expire on schedule in for all income levels, this law significantly increased future deficits.
Compared against the previously years, it reduced the deficit and limited future cost increases. Along with the recovering economy, the law even lowered the deficit back to the historical average relative to GDP by However, the Republican Congress defeated these initiatives, but many states actually did increase their minimum wages, due in part to his support.
Energy policy of the Barack Obama administration President Obama's energy policy can be understood by looking at the different investments in clean energy that were evident in the American Recovery and Reinvestment Act of It's also about our economy.
And it's about the future of our planet. He also announced a decision to double the number of hybrid vehicles in the federal government's fleet and one to expand domestic offshore oil and gas exploration in Alaska, the eastern Gulf of Mexicoand off the east coast of the United States.
More money would be given to state and local programs under Obama's proposal.Congressional Republicans have been raked over the coals in the last two weeks for slamming through budget caps and inflating government spending and debt by another $ billion.
@sixpack, your comment currently has 3 down-thumbs. If I were to pass judgement on those who saw your post as “negative”, I would say those down’thumber’s represent obama supporters and they are expressing their opinion here on SHTF Plan site.
Obama’s Top 50 Accomplishments, Revisited. The comprehensive legacy of the 44th President. Nov 15, · Former U.S.
Secretary of State James Baker speaks about a plan to repeal and replace the Clean Power Plan at the National Press Club in Washington February 8, May 21, · As a matter of fact, no countries in the world that truly practise free trade although the arguments put up are very persuasive.
All governments to some extent do restrict the movement of goods & services in & out of borders. barack obama’s plan to stimulate the economy Barack Obama’s economic plan will inject $75 billion of stimulus into the economy by getting money in the form of tax cuts and direct spending directly to the people who need it most.