The relentless attacks on the Obama administration from the right, among other things, include: 1) its unfriendliness to business growth, 2) failure to do enough to eliminate unemployment, 3) the federal reserve policy of bond buybacks and the dangerous inflation it would create. I predict history will judge the man and his administration far differently on these points. Here are the figures comparing Jan. 1, 2010 (giving Obama one year to implement policies) to the situation today. 1) The stock market, even with its recent decline has gone from 11671 to 16117. US company profits have soared and good investors have profited very nicely. 2) The unemployment rate has gone from 9.7% to 5.9%. This has been a good, steady improvement over 8 years without recession or economic instability. 3) The CPI (a measure of inflaction) has gone from 2.6% to 1.7%. The flaw in the relentless criticism of the Obama administration is also clearly shown when comparing the US economic recovery to that of Europe, which remains in deep recession after civil unrest throughout much of the continent over the intervening years and with countries still today suffering unemployment rates of 25%!
Posted on: Fri, 17 Oct 2014 13:20:16 +0000
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