Obama Economic Crisis

Leadership is action,not a position”(Donald H. McGannon 1).On November 4, 2008, senator Barack Obama was elected as the first African-American of the United States of America. It was then on that he would lead the country for two terms and finally leave his legacy in 2017.Barack obama impacted most of the american peoples lives in a positive way like when he created more jobs. During the“ course of Obama’s two terms of presidency, he has shown multiple times through his actions on why he is such a great president.,Such as providing health care for the poor and helping the economy.For instance, obama averted an economic collapse.

CNN reported on Election Day that the economy was the most important issue to voters. The Democratic platform for the economy was to provide quick relief for the economy with a fifty billion dollar jumpstart. The Democrats also want to cut taxes for the middle class and end tax breaks for companies outsourcing jobs. Obama blamed deregulation for the financial crisis. The Republican platform for the economy consisted of making the 2001 and 2003 tax cuts permanent , increasing the international trade and building nuclear plants both of which will create new jobs (Woolley 2008).

The financial bailout on Wall Street rescued the economy from total collapse from faulty mortgage loans. Obama’s plans include reworking and changing the way the economy works for the better. George W. Bush gave tax cuts to Americans who earned over $1,000,000. A large sum of people don’t believe it was a fine idea. Obama will give tax cuts to working class people and small businesses, not to the wealthy. He will create tax credits of $500 per person and $1,000 per working families. Obama will also eliminate income taxes to senior citizens who less than $50,000 a year.

The 2008 presidential election saw a significant increase in voter turnout among young people, Blacks and Hispanics. This helped with Obama’s political campaign, for he had a strong connection with minority groups and young voters. With the increase in voting for the Democratic party in 2008 by Blacks, Hispanics and young people, Barak Obama became the 44th president of the

The period from 1776 to 1815 witnessed the successful effort of the new United States in establishing a country. During that period the new country won its independence, constituted itself as a nation, developed a political system, expanded geographically, and defended itself from external and internal threats. There were four major crisis that the United States faced in this period are the Battle Long Island, Battle of Valley Forge, War of 1812, and the Battle of New Orleans, which I thought it was the major crisis that the United States faced.

There will be many times where people will look back into history years from now and remember the significant events of the 2000s, and a big reason for that is the advances both in technology and society that took place. On the day of November 4, 2008, a man of strong beliefs from Hawaii named Barack Obama announced that he was running for president of the United States. He won the election and was sworn into office becoming the 44th president of the United States on January 20, 2009. He has not only marked a page in history in becoming the first African American president, but has tried to work to better the economic and political aspects of the country. After his term in office was coming to a close, he won the re-election in 2012 and will be currently running in office until January 2017 when his final term ends and a new presidential candidate will gain office.

The election of Barack Obama as the president of the United States surprised Americans as much as it did the world. The first African American and non-white to be in the White House, Barack Obama symbolized a major historical event, another step-forward toward racial equality in the history of America. Civil rights activists, experts in the racial conflict of the U.S., and many liberal citizens believed that Obama’s election means the realization of the ideas of black civil rights leaders, the completion of the Civil Rights Movement, the beginning of a post-racial society, and the downfall of

Barack Hussein Obama was elected the 44th president of the United States on Tuesday, sweeping away the last racial barrier in American politics with ease as the country chose him as its first black chief executive. The election of Mr. Obama amounted to a national catharsis- a repudiation of a historically unpopular Republican president and his economic and foreign policies, and an embrace of Mr. Obama’s call for a change in the direction and the tone of the country. But it was just as much a strikingly symbolic moment in the evolution of the nation’s fraught racial history, a breakthrough that would have seemed unthinkable just two years ago.

The story of Obama’s Presidency revolves around the economy he inherited. Prior to Obama’s election, major financial institutions had invested heavily in securities backed by bundles of home mortgages. While these investments performed at a high rate for an extended period of time, the bubble eventually burst when homeowners could no longer afford their mortgage payments. This led to the collapse of many large financial institutions, sending the economy into a state of disarray. As unemployment broke into the 6% range in September of 2012, the polls began to trend in favor of Obama. With the Republicans having held the White House for eight years and Congress for six (of those eight), the American people connected the economic downturn with the Republican Party, paving the way for Obama’s election. (Sides & Varveck,

This was the major issue during this presidential campaign. It was so easy for the electorate to understand issues pertaining to economic conditions. This included the performance of stock market, job creation, and unemployment. Meaningful improvements in the economic state of the country would have plunged president Obama to lose the contest. The electorate cast their votes with great consideration of issues such as healthcare and the economy. In my view, economic condition played an integral role in casting votes for their head of state (Erickson & Wlezien, 2012). After an extensive research, the economy was the main issue of campaign because of the following reasons:

Throughout Barack Obama’s presidency, he had to battle the end of the recession, ways to stimulate the economy, and help stimulate the economy. One of his first actions as president happens to be a recovery program also known as the stimulus program to stimulate the economy after the Great Recession. Obama “by mid-February, Congress had passed and Obama had signed measures broadening children’s health services and providing $787 billion to stimulate the economy through tax cuts, infrastructure investments, direct aid to hard-pressed states and cities, and expanded health care and social welfare assistance for the unemployed” ("Obama, Barack"). This program took place between 2009 and 2010. Obama wanted to end the recession as efficiently as

Fiscal policy: Given the breadth and depth of this recession, it was clear that the Treasury and the entire Obama administration had to take bold actions. In fact, right at the beginning, they were committed to a fiscal stimulus policy package which would be “substantial” enough to pull the economy out of the recession. The final stimulus package signed into law in 2009, the American Recovery and Reinvestment Act, was totaled $787 billion including about one-third tax cuts and one-third aid for states and the unemployed. Of the rest, labor health and education investment got 8%, and infrastructure investment got about 7%. It also included a large amount of government money to

Stability relates to a leader’s response or reaction when facing problems and adversity. During his tenure there were several issues that became headlines surrounded around race, healthcare, education, gun laws, etc. For example, Obamacare saved 100,000 individuals by providing regular vaccines, mammograms and improving hospital care. Obama has been criticized for his opinions on “death spiral”, that would cause young healthy customers to pay higher healthcare costs align with rising premiums and deductible for older customers (Dinan, 2017). Facing adversity and criticism, Obama remained stable and capable of withstanding answering difficult questions and situations. Being knowledgeable and competent of situations allowed President to be

Obama presidencies after September 2008 financial crisis is as follows: Government spending expands automatically in recessions with the increase in unemployment insurance, welfare benefits, and other transfers to the jobless and the poor . Normally to hasten recovery include additional tax cuts to

In the year 2008, the United States elected its first African American president. This was a day of celebration by the African American people. It was proof they finally overcame the many harsh obstacles in life and earned respect. Back in 1964, both whites and blacks would never have imagined something like this could be possible. Back then, African Americans were considered slaves with absolutely no rights. Sadly, by some, they were even considered non-human. Electing an African American as president strongly shows how far we have evolved