HOW OBAMA SAVED U.S. FROM RECESSION


Obama's major success in tackling recession hangs on his first team of economic advisers. Many of them had helped formulate the policies he had outlined during his 2008 campaign platform, which included an aggressive fiscal stimulus plan to put the country back on track.

President Barack Obama struggled with the 2008 financial crisis and controversy over the ambitious Affordable Care Act.

Despite these challenges, he's managed to accomplish many great things. Here are the top eleven.

1. Ended the 2008 Recession In February 2009, Congress approved Obama's $787 billion economic stimulus package. It cut taxes, extended unemployment benefits, and funded public works projects. The recession ended six months later when GDP growth turned positive.

In just seven months, ARRA pumped $241.9 billion into the economy, stirring growth to a robust 3.9% by early 2010. By March 30, 2011, nearly all ($633.5 billion) of the funds were spent.

Obama bailed out the U.S. auto industry on March 30, 2009. The Federal government took over GM and
Chrysler, saving three million jobs. It forced the companies to become more fuel efficient and therefore more globally competitive.

https://www.thebalance.com/what-has-obama-done-11-major-accomplishments-3306158

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Clearly, the U.S. has done better than most countries in the aftermath of the 2007-2009 financial crisis. Europe has struggled to cope with high debts and stop-and-start growth. And Japan has repeatedly fallen into shallow recessions. Among the world’s top economies, only China mostly escaped the worst of the fallout from the Great Recession.

Fueling the economy has been a surge in job creation — 14 million new jobs since 2010. Auto sales recently hit a record high and home builders are rushing to build new properties to meet rising demand.

www.marketwatch.com/story/obama-tells-all-on-how-he-saved-us-economy-2016-04-28

www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/#1364104131bf

All the dullard does is read speeches given to him by random people in form of aides.

[size=14pt] Did you read the figures? We can't afford it. That said, Obama was also criticised and the government barely avoided a shutdown. [/size]

kITATITA:
[size=14pt] Did you read the figures? We can't afford it. That said, Obama was also criticised and the government barely avoided a shutdown. [/size]

Vey smart of you being bogged down in raw figures without comparing it in relative terms. yeye.
You see how proactive Obama was with initiating policies to quickly change things .That is how a good president is known. And unlike buhari, Obama had to contend with a very divided congress dominated by the opposition.

After formulating policies( well brain stormed one) the next challenge is implementation. I think that's where Nigeria is getting it wrong. Lack of quality policies and policy inconsistency. The next president of Nigeria is going to unbundle the super ministries back to where it was, because what ever the vision was, clearly is not working. That's one of many.

If we had reserves of 150bn dollars like we were supposed to have it we managed our oil boom well.. Even a fool Could have managed our economy now.. we won't even feel any changes or drop in oil prices

The only way to revive our economy is to pump in money.. . But bro we have no money that's the truth

Were the American citizens bombing there natural

Resources ?


Also American citizens were supportive during the recession

We are our own enemy

mrvitalis:
If we had reserves of 150bn dollars like we were supposed to have it we managed our oil boom well.. Even a fool Could have managed our economy now.. we won't even feel any changes or drop in oil prices

The only way to revive our economy is to pump in money.. . But bro we have no money that's the truth

Continue believing that dead lie of no money when they carried money and dashed irresponsible governors in the name of bailouts. Continue that foolish belief with 108-man delegation to the US. No money yet simple promise of reducing presidential fleet to save cost no happen instead they are still maintaining them that way. No money but according to Amaechi, FG has recovered 2 abi 3 Trillion. No money yet Buhari has travelled over 30times within 16 months. Yes, for zombies, there's no money. No questions asked!

kenny987:


Continue believing that dead lie of no money when they carried money and dashed irresponsible governors in the name of bailouts. Continue that foolish belief with 108-man delegation to the US. No money yet simple promise of reducing presidential fleet to save cost no happen instead they are still maintaining them that way. No money but according to Amaechi, FG has recovered 2 abi 3 Trillion. No money yet Buhari has travelled over 30times within 16 months. Yes, for zombies, there's no money. No questions asked!

I know ur economics is too poor.. But let me break it down for u... Our problem is not lack of naira but lack of dollars. .. Hope I get

Oya run along

mrvitalis:

I know ur economics is too poor.. But let me break it down for u... Our problem is not lack of naira but lack of dollars. .. Hope I get

Oya run along

And all those things I enumerated are funded in cold hard dollars dumbo! Some of the money believed to be recovered were in hard currency as well.

kenny987:


And all those things I enumerated are funded in cold hard dollars dumbo! Some of the money believed to be recovered were in hard currency as well.

Go and read ur basic economics then come back

We need 150bn dollars and u talking few millions of dollars

U guys just read what u want to read.. . Government told u that they have recovered this amount but due to court process on 78 billion is available for spending.. Hope u can read n understand

mrvitalis:

Go and read ur basic economics then come back

We need 150bn dollars and u talking few millions of dollars

U guys just read what u want to read.. . Government told u that they have recovered this amount but due to court process on 78 billion is available for spending.. Hope u can read n understand

The point is that u are so easily taken in by tall and dead tales. Heavy, capital-intensive projects/investments do not require the availability of the total sum before they can take off. A government with sound policies and steady implementation blueprint can collaborate or attract investors with cash to burn to the mutual benefit of both parties and of course the citizens. The problem is that this dirty old men in office have so sullied the business environment with bitter and inimical policies and pronouncements and that is why FDI has dried up particularly with the hasty flight of investment funds within the first year of the inception of this government.

Stay there and be looking for $150 billion because that is what they told u...For those few million dollars u so easily cast aside, be reminded that every single drop matters and each journey starts with a step. While u claim to be so knowledgeable in ur economics, u fail to take into cognisance the effect of recurrent expenditure that just amount to humongous wasted resources that should have been trimmed off quickly! No sane govt, knowing its precarious economic situation, also goes out of its way to antagonise the the proverbial goose that lays the golden eggs like ur darling daftus has done.

@op
You are ignorant

This is where Obama meant US debt and where it is now

kenny987:


The point is that u are so easily taken in by tall and dead tales. Heavy, capital-intensive projects/investments do not require the availability of the total sum before they can take off. A government with sound policies and steady implementation blueprint can collaborate or attract investors with cash to burn to the mutual benefit of both parties and of course the citizens. The problem is that this dirty old men in office have so sullied the business environment with bitter and inimical policies and pronouncements and that is why FDI has dried up particularly with the hasty flight of investment funds within the first year of the inception of this government.

Stay there and be looking for $150 billion because that is what they told u...For those few million dollars u so easily cast aside, be reminded that every single drop matters and each journey starts with a step. While u claim to be so knowledgeable in ur economics, u fail to take into cognisance the effect of recurrent expenditure that just amount to humongous wasted resources that should have been trimmed off quickly! No sane govt, knowing its precarious economic situation, also goes out of its way to antagonise the the proverbial goose that lays the golden eggs like ur darling daftus has done.

So if u are my economic manager. . U will advise me to invest in a country with less than 6 months forex reserves? ?? I told u ur economics is poor.. Read boy read

Lol, i've never seen any group of people who like to live in self denial and delusion like nairalanders.

Name one president in this world that put their country in recession and brought them out again.

Any advise you have about fixing this economy you should save it for another president who listens to advise.

You started your post by saying that :

obama's major sucess in tackling recession hangs on his first team of economic advisers many of them had helped formulate the polices he had outlined during his 2008 campaign

Our president decides the economic policy of this country, despite failing math and economics. Why do you think we're inna recession in the first place?

Taich:
After formulating policies( well brain stormed one) the next challenge is implementation. I think that's where Nigeria is getting it wrong. Lack of quality policies and policy inconsistency. The next president of Nigeria is going to unbundle the super ministries back to where it was, because what ever the vision was, clearly is not working. That's one of many.

Look at how you are contradicting yourself. You claimed policy inconsistency is a major challenge, and you are already advocating for unbundling of the super ministries even before they have used 1 year! According to you, because they are not working.

Is that not inconsistency of the highest level?

What is with Nigerians and impatience sef?

You need good data over time before you can run your mouth that a policy is not working.

Those super ministries are yet to use even 1 year.

Why not let them run for at least 2 years, we can then do a comparison of the amounts allocated to them while they were individual smaller ministries and how far they were able to achieve their mandate....


Then also compare their performance as a 'super ministry' in relation to funds made available to them and achievement of set objectives.

That is how to make informed assertions and not just talking in abstraction.

Most of these successful developed foreign countries we like to make reference to, how many ministries/departments of govt do they even have??

In Nigeria, we want to have ministry for every little thing. That was how I was reading the other day that a state has Ministry of Chieftaincy affairs and also has Ministry of Tourism and culture. Is that not unnecessary waste and bureaucracy?

I don't see anything super in combining Ministry of Transportation and Aviation. They are supposed to be together.

It's only Fashola's Power, Works and housing that looks a little cumbersome due mainly to the addition of power to works and housing. But given that direct govt control in the electricity value chain has significantly reduced, there is little available for govt to do except effective and efficient regulatory overview and interventions when necessary.

And we can always assess how successful the merger is after a while, not less than 1 year with no obvious comatose.

test

agabusta:


Look at how you are contradicting yourself. You claimed policy inconsistency is a major challenge, and you are already advocating for unbundling of the super ministries even before they have used 1 year! According to you, because they are not working.

Is that not inconsistency of the highest level?

What is with Nigerians and impatience sef?

You need good data over time before you can run your mouth that a policy is not working.

Those super ministries are yet to use even 1 year.

Why not let them run for at least 2 years, we can then do a comparison of the amounts allocated to them while they were individual smaller ministries and how far they were able to achieve their mandate....


Then also compare their performance as a 'super ministry' in relation to funds made available to them and achievement of set objectives.

That is how to make informed assertions and not just talking in abstraction.

Most of these successful developed foreign countries we like to make reference to, how many ministries/departments of govt do they even have??

In Nigeria, we want to have ministry for every little thing. That was how I was reading the other day that a state has Ministry of Chieftaincy affairs and also has Ministry of Tourism and culture. Is that not unnecessary waste and bureaucracy?

I don't see anything super in combining Ministry of Transportation and Aviation. They are supposed to be together.

It's only Fashola's Power, Works and housing that looks a little cumbersome due mainly to the addition of power to works and housing. But given that direct govt control in the electricity value chain has significantly reduced, there is little available for govt to do except effective and efficient regulatory overview and interventions when necessary.

And we can always assess how successful the merger is after a while, not less than 1 year with no obvious comatose.

http://www.dailytrust.com.ng/news/general/customs-removes-rice-from-import-restriction-list-at-land-borders/114013.html
Just one of things I was trying to say.