Obama economic term a success? Just the facts.

Jump to Last Post 1-2 of 2 discussions (12 posts)
  1. Josak profile image60
    Josakposted 6 years ago

    There are several categories on which we should rank the economic term of a president let's list them and debate them factually. Feel free to add to this list and post relevant additions. Success or failure on these points dictate a good or bad economic term.
    Unemployment, spending, consumer confidence, GDP growth, stock market performance, and inflation.

    Unemployment has been falling since within six months of the Obama presidency, this makes sense as being the time frame in which his policies could take effect. Unemployment is falling and has now dropped to below 8%. Obama took rapidly rising unemployment and turned it around completely. Real unemployment has also been falling.

    Spending is still high no doubt but inflation adjusted spending (as in real spending) is actually down 2.6% since the beginning of the Obama presidency despite the economic rigors that we are facing (dealing with crisis generally requires higher spending).

    Consumer confidence has increased from 61 on the consumer confidence index in 2008 to 71.1 in late September 2012.

    GDP growth is a crucial statistic. GDP in the first quarter of 2009 was -6.1% GDP growth now is higher than 2% meaning GDP growth has increased by 400% under Obama.

    The Standard and Poor's 500 is probably the best representation of the US market and is also widely considered to be an indicator for the short term future of the US economy, it has grown 70% under the Obama Presidency making this area a complete success.

    Inflation has remained constant.

    Based on this there is every basis to call the Obama presidency a complete success.

    1. grand old lady profile image83
      grand old ladyposted 6 years agoin reply to this

      Happy to know that things are getting better in America. What truly impressed me was the investment Obama is making on finding energy alternatives. With most of the oil being in the Middle East, it is a great idea to get oneself free from overdependence on this resource, at the same time go forward on becoming more eco friendly.

      I know there's a lot of polarity with this presidential election. As a Filipino, I just wish the best for your country, whoever wins.

    2. Backwater Sage profile image58
      Backwater Sageposted 6 years agoin reply to this

      You can't even vote. What's the point?

      1. Josak profile image60
        Josakposted 6 years agoin reply to this

        ...I can vote.

  2. tammybarnette profile image59
    tammybarnetteposted 6 years ago

    Thank you so much for making these points. I have seen your comments in other hubs and decided to check out your hub in which I discovered you are an economist. I wanted to ask you a question because I am not an ecconomist,lol. It would seem to me that if an economy grows too quickly this would create hyperinflation and a large bubble, is this true? Do you believe that China has created such a bubble?

    1. Ralph Deeds profile image67
      Ralph Deedsposted 6 years agoin reply to this

      The economy has been growing too slowly, not too quickly. There will be plenty of time to worry about it growing too quickly.

    2. Josak profile image60
      Josakposted 6 years agoin reply to this

      Rapid growth can cause hyper inflation but only if it's not based in real value, for example if the growth is caused by simply creating more dollars then inflation will soon catch up to that. In China their economic growth is based on actual demand and manufacturing so I don't envision any major bubbles, some are of the opinion that China is building too many new cities with no one to fill them and this might constitute a bubble but I am unconvinced that this will occur, it does depend on the economy staying stable.

      1. tammybarnette profile image59
        tammybarnetteposted 6 years agoin reply to this

        Thank you for getting back to me on this issue. As Ralph pointed out above I realize our growth is slow. I was just curious if "growing too quickly" had potential hazards.

        1. Backwater Sage profile image58
          Backwater Sageposted 6 years agoin reply to this

          No, unless of course growth is due to funky investment, like down here in Florida.

          1. tammybarnette profile image59
            tammybarnetteposted 6 years agoin reply to this

            So, at what rate or maybe in years, of normal adequate 3% annual growth, how long until bread is say $20 a loaf?

            1. Josak profile image60
              Josakposted 6 years agoin reply to this

              It's not the economic growth it's the inflation that makes the price of things higher in dollar amounts. Inflation is currently 1.7% yearly so it should be a long time before bread is worth that much.

              The dollar price of things should go up by about 1.7% yearly is the gist of it.

              1. tammybarnette profile image59
                tammybarnetteposted 6 years agoin reply to this

                Ok, so Bernake's comments about controlling inflation, is this true?


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)