Is The U.S. Economy Better Off After President Obama?

When President Barack Obama took office in
January of 2009, the world economy was reeling from a global financial crisis. The United States, in particular, had been
shattered by the subprime mortgage bubble. This period was considered the worst global
recession since World War Two. Just that month, nearly 600,000 jobs were
cut by employers in the US, with an unemployment rate of more than 7.5%. In total, since the recession began, almost
nine million jobs were lost. In 2008, Obama ran for president on a campaign
marked by promises to reel in big banks, stop job loss, and address the widening economic
inequality between the ultra-rich and those in poverty. To combat the disastrous economic situation,
one of Obama’s first acts in office was to sign off on The American Recovery and Reinvestment
Act of 2009, which many have referred to as “The Stimulus.” It pumped roughly $830 billion dollars into
areas such as infrastructure, education, healthcare, and renewable energy. It also provided tax cuts, unemployment benefits,
and other countermeasures to the economic freefall. Although The Stimulus did manage to slow the
Recession, many felt it was too paltry an effort. Economist Paul Krugman and the president himself
stated so publicly. By some accounts The Stimulus should have
reached nearly $3 trillion dollars. Instead it passed at only a third of that,
with large cuts in education and health. Many Republicans refused to pass such a large
spending bill, doubting it would actually result in a stronger economy. Democrats have since pointed to this as a
reason for the slow economic recovery, and continued job losses throughout the year. Another major step towards economic recovery
was the passage of The Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010,
known as Dodd-Frank. This was a regulatory measure in an attempt
to prevent the resurgence of “too big to fail” banks, which had to be bailed out
with nearly half a trillion dollars in 2008. Although Dodd-Frank imposed stricter oversight
for banks, many criticized the measure as being too soft. Others, blamed the president for not prosecuting
many of the executives who had supposedly caused the crisis in the first place. After several years, some have since thought
the Act to have been a failure, as it placed undue stress on small banks, and made it harder
to get credit, while big banks have gotten bigger. While Americans suffered under an economic
crisis, Wall Street was kept intentionally healthy and stable, to avoid further decline. In fact, although President Obama campaigned
on battling inequality, economically, the wealth gap grew during his time in office. Though the economic situation was dire eight
years ago, today, the number of jobs are up 8.4 percent over those in 2008, when Obama
took office, well above George W. Bush’s one percent growth. Unfortunately for the president’s legacy,
however, that is less than half of Reagan’s 17.7 percent, and less than two-and-a-half
of Clinton’s 20.9 percent.. On the other hand, both Reagan and Clinton
enjoyed economic booms. According to Obama, the US managed its financial
crisis better than any large economy in modern history. To his credit, the unemployment rate is now
lower than when Reagan left office, and the US is seeing roughly six years’ worth of
sustained job growth, the highest recorded rate. Even the national deficit has dropped by about
a trillion dollars, although the federal debt has increased significantly, jumping from
about $10 trillion dollars in 2009, to nearly $20 trillion dollars in 2017. In the end, thanks to opposition efforts in
Congress, and a global financial crisis at the outset, Obama’s economic legacy has
been dampened significantly. Many jobless Americans, or those who lost
their homes and savings in the Great Recession believe President Obama did not do enough
to improve their quality of life. Even though the economy is doing better today
than it was when Obama took office, the president’s economic legacy may not be one of his high
points. Although Obama’s economic efforts may be
overlooked, they aren’t his only lasting legacy. Obamacare, wars in the Middle East, and other
domestic and international efforts span his term. To find out exactly what the President has
accomplished during his time in office, you can check out this video here. In 2011, Obama oversaw the mission to locate
and eventually kill Osama Bin Laden. He also authorized the final removal of U.S.
troops in Iraq. However, continued terrorist attacks in the
region have prevented Obama from permanently ending the war. Thanks for watching Seeker Daily, don’t forget
to like and subscribe for more videos from us every day.

100 thoughts on “Is The U.S. Economy Better Off After President Obama?

  1. On record Obama is responsible for the absolute worst economic growth, ever. Over taking President Carter for that accomplishment. We now have 2 million less people on food stamps, the lowest unemployment rate in 20 years, a much higher consumer confidence. Obama put so many companies out of business with his heavy regulations and anti capitalist policies. The silent majority of hard working middle class American's are ecstatic that Obama is out of office and are enjoying a higher standard of living and a much brighter economic outlook.

  2. That this broadcaster, or anyone else, think government can spend itself out of recession is what makes them an economically illiterate. Government can not create wealth, it can only confiscate and redistribute wealth.

  3. Worst president ever, and I voted for him twice. Smdh! Trump has done more for the black people then Obama has done!! FACTS!!!

  4. Its a shame that economics is not a science. We could actually really know what was going on in the economy if it was.

  5. If some one will say good things about a person then some will counter that by saying all bad about him or her. If some one will say bad then some will say good. That's what happening in our real world. If some one will come out with a good policy then it will make some unhappy. Human beings can't be satisfied. I am not supporting anybody but I think it's very easy to criticize, being in their shoes will help us understand the amount of pressure and opposition people in position has to deal with.
    Like there will always be haters of Cristiano Ronaldo, Messi even all those critics have not even kicked a football in their lifetime but they won't stop acting like pundits.

  6. That global recession was caused by the US government and was alive and well for all eight years of Barack the loser Obama

  7. With Trumps tax cuts there will be inflation and that will ultimately lead to a either another recession or if handled correctly it can lead to possible GDP growth overtime.

  8. Obama did his best and I respect that a lot same as many presidents, Obama’s did try and if his ideas went right they may have went good

  9. no medicine can cure ignorant people, not gonna say who am I referring to, but I m sure anyone who are intellectual enough to see enough data and fully analyze the big picture will know who i am talking about, keep cherry picking America keep cherry picking.👍

  10. Obama raised the national debt, the wealthiest Americans saw an increase, 51% of working people are low income, the middle class is shrinking and the number of people on government subsidies has grown.
    It's not all his fault but do not give Obama credit for a completely false economy that has been created.

  11. Obama sold America out and sent his radical Muslim brothers to America in the middle of the night. He was a traitor.

  12. Right he made deals to bring back companies to America and created millions of jobs in just a very short time through deal making. Good deal maker that obama…oh wait Trump did thoes things. U obama fans are like flat earthers. Ur fun to play with.

  13. Obama didn't lessen the deficit by nearly $1 trillion. Bush's largest deficit was about $459 billion. Obama's smallest deficit was about $438 billion. Many people blame Obama's first deficit of $1.413 on Bush. However, Bush cannot be responsible for spending from the stimulus, the omnibus spending bill, cash for clunkers, and other spending measures approved by Obama that contributed to that deficit. Besides, the 09 budget was actually signed and approved by Obama soon after he took office in 09.

  14. Obama heritage 20 Trillion debt and uncapable of destroying Isis in 6 years while Trump crush then in months. Increase in food stamp recipients for part timers so can keep a low unemployment number.

  15. 100+ people lost their union jobs in the company I work for today. It's getting worse. Where's all the good quality jobs they the politicians promised? I don't want to scare anyone but I think people will kill for food soon on the streets. Ww3 will be a universal domestic war. Every country will have it's rich vs poor in their own place / space. It's what Congress wants, not what the president wants. Congress has more control than the president. New jobs only pay 11$ an hour maybe 12$ and rent here is like 2000 to 3000$ a month. They will be forcing people to become criminals in the street. Please people don't have kids. You will put people into this world to suffer. Life should be wonderful, not full of war, disease, poverty, god is doing a horrible job.

  16. Sooo, you're a mindless liberal with no understanding of economics… Yeah, I too could have a great looking situation if the Federal reserve were dumping a trillion a year on the markets while I spend 1.something trillion more a year than I take in…

    Are we still in Iraq after Obama took us back? Just wondering is military spending is higher than it was under Bush every single year of Obama's presidency. I don't think HC costs have stopped skyrocketing from the passage of Obamacare that promised to do the opposite. But hey, lets love Obama because he can spend us into oblivion that of course is only bad if Republicans (Bush) does it.

    You don't even try to hide your hyper partisanship.

    You people will be used as an example of what stupid looks like in the future.

  17. It's not good for the border because we depend on buyers from Mexico .Us dollar is almost $20 pesos.People don't have money to exchange from pesos to dollar so they decide to buy used in Mexico.

  18. Obama never dod a good thing for USA only helped all the Blacks and Muslims to come to USA and get free welfare and took away from Legal America.. Under Obama we were supporting all Muslims Brotherhood. And obama wanted Muslims and Blacks to get in the faces of any one opposing his and Soros agenda of the communism and islam idenogly.. Obama was NOT even elected , he was selected and he sold out our uranuim to Russia and other technology to other countries .. Obama did the worse of all president.. The only job he created was bigger government ..

  19. Ovomit was a disgrace to this country. Look at the growth that President Trump is creating by getting rid of Ovomits regulations and cutting the corporate tax rate that your buddy you quoted in the video Paul Krugman said would lead to economic failure has actually did what real economists had said it would do and it stimulated the economy. I'm so glad this POS is out of office. He hurt our country. He set back the race relations about 30 years, he created the highest welfare state that I know of. Your attempt to defend him is laughable when you look at our economy now.

  20. Obama's entire presidency was one big LIE. Now leftists are attempting to continue that lie. Search Google for "Obama's Magic Wand" and you will hear in Obama's own words how he had NO IDEA how to bring jobs back to the USA.

  21. Obama actually exposed America. He gave us obama care and several other “liberal socialist” type policies but so many right wing folks hate him for it. Obama exposed America as a corrupt capitalist society that prefers its corporations over its citizens.

    It’s funny how people think Obama. Let’s think, how is anyone, let alone a president, trying to get universal coverage a BAD GUY? So because the companies didn’t want to do their part and actually make Obamacare work we should hate obama? Once again the dude really just showed the ugly side to capitalism. He laid out a template that could’ve let to happier social welfare but he exposed those people who are all about “why should we help the next person, what about me”

    For he richest nation in the world, it’s a shame we can’t accomplish some of the things if not a lot of the things smaller nations with less economic leverage have done.

  22. Obama was the worst president in American history and did nothing to fix the economy. The proof… before he left office he said that jobs would never come back and the economy would never fully recover. Now he takes credit for president Trump's accomplishments. Obama is a hypocrite and megalomaniac and a liar. And a traitor to this country.

  23. You people are f**** delusional if you think Obama's economy is better than trumps there is no way I'm a businessman my bank account says totally different than it was 3 years ago you Liberals are f**** delusional

  24. If he so good than American was had the better life, I just see more welfare and less job. free dome to grow drug at home. that why so many nail owners are rich.

  25. I am not from US, but honestly I have reason to believe that Trump is a much better American president than Obama.

  26. Obama was a complete failure.

    Internationally he made the US a third class country. During Obamas years Russia invaded both Georgia and The Ukraine, ISIS grew, China developed its imperialism and so on. The US role in international economics was that of a landfill.

    Domestically, more people went on food stamps. In reality unemployment grew. Also, US became more inflicted with hatred and racism because of Obama. Black people were worse of than ever before in modern history. Poverty grew to new records.

    State debt doubled. Full stop.

    In short: it was the biggest disaster since New Deal (which also failed completely).

  27. Make sure to arrest Crooked Hillary Clinton Barrack Hussein Obama, James Comey, Robert Mueller, Diane Feinstein etc…! Then I will believe it. Lock up the idiots criminal crime Crooked Hillary Clinton! Make sure to “Arrest any Majors or any Governor Sanctuary Cities”!! Then I will believe it!!

  28. He might think he deserves credit. So does Hillary and Bernie. Those people are sick for holding minority AMERICANS HOSTAGE

  29. This is shy education is so important, the fact that so many Americans can't seem to understand that even if ObamaCare is not great, more people were covered under it than before. Am not saying it does not need work but it's some FAR better than what you guys had before. No 1st world country should have it's PEOPLE dying because they can't afford it. Am not an AMERICAN LEFTIST in any shape or form but I stand by my comment.

  30. The Obozo Clown said the jobs that have left are not coming back.
    He said you would need a magic wand…
    That means Donald Trump found that magic wand as jobs are coming back with 4.3million new jobs and the fastest growing economy in history. The Obozo Clown almost destroyed America.

  31. You're telling me this dudes answer to our recession was to take out debt and invest it into building windmills and repave roads? I mean it sounds alright but we probably could've spent that money on something better that doesn't only benefit people working for the state and would have a longer lasting impact on the economy. I'm all for clean energy man but windmills ain't the future. Shoulda gave that money to Elon Musk and we'd all be using self driving electric cars by now

  32. Obama’s economy could only have an upside after the economic crises. That’s true. But Trump’s economy is not riding on Obama’s back – whose GDP didn’t surpass 2%. Trumps economy bedrock was propulse though tax & regulation cuts. I voted for both and i don’t idolize no men. Trump has surpassed my expectation – 401K, unemployment, GDP, manufacturing (not coming back according to Obama) is at a half million manufacturing jobs & growing. Plus Trump has outdone Obama creating more opportunities & jobs for Blacks, Hispanics & minorities.

  33. My name is Christopher and obviously, this gentleman, Mr. Dominguez is obviously a supporter of President Obama and a liberal. He is dead wrong. President Barack Obama was the worst President in my lifetime. Yes, I am a black man and I am saying this. President Barack Obama more than doubled the national debt during his time as our President. America is over 20 trillion dollars in debt. President Barack Obama signed all of these government regulations into law making the government bigger. Obamacare is the worst piece of legislation that has ever been signed into law. It has ruined the health care system. President Obama signed the stimulus package into law. Where did the money go? 95 million people were out of work. Under President Obama, we saw the lowest employment participation rate since the depression and we saw the slowest economic growth in American history. This is President Barack Obama's legacy. One in which his administration failed this country. While Donald Trump has a toxic tongue, he has improved the economy. It is not great, but better. I'm sorry Sir, but Barack Obama was a terrible President. If you want to debate me,bring it on.

  34. Dow Jones industrial average drops as trade fight, oil price and recession worries mount

     USA TODAYPublished 8:14 a.m. ET Dec. 6, 2018 | Updated 4:44 p.m. ET Dec. 6, 2018

  35. 2:46 Clinton had the best Job gains
    3:03 Obama did the best job leaving the least people unemployed
    Interesting fair video.

  36. Obama did so much for America. He even said that most of his work will take affect after his presidency which Mr. Chump is taking credit for.

  37. Duh. It’s called consumer confidence. I’m a business owner and was forced to not invest in the eight years of Obama’s reign.

  38. I wish to GOD" I seen Trump or bush, Reagan, Clinton inherit an economy like Obama" and had to fight against the Republican party at the same time, I would love too had seen how that would have turned out . 👀

    No Doubt it would have been a terrible disaster a no coming back 😂😂😂😂😂😂😂

  39. Here are the facts? When President Obama took office on Jan. 20, 2009, the Dow Jones Industrial Average was at 7,949.09. The 7,949.09 was the lowest inaugural performance for the Dow since its creation and it reached its highest at a record 19,974.62 in history on December 20, 2016 and finished the year at 19,762.60.

    The Dodd-Frank Act is reason the market is making record profits because investors of the market likes certainty and predictability (BULL MARKET).
    The Dodd-Frank Act is an act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too-big to-fail, to protect the America taxpayer by ending bailouts, to protect consumers from abusive financial service practices and for other purposes.
    On Dec. 8, 2016, it was stated in the Wall Street Journal that the CEO of J.P. Morgan Chase Jamie Dixon and other big banks have a message for President-elect Donald Trump: Don’t trash the Dodd-Frank Act. "We're not asking for wholesale throwing out Dodd-Frank.”
    Check this out folks? This is their reason? The discretion that Obama insisted upon made them dumb stupid off the chain billions and what kills me is that the bankers not only got bailed out; no one went to jail.
    The Journal also reported that the banks do want modification of Dodd-Frank, Rather than repeal, big banks are pushing for the government to make “regulation simpler and less costly, but don’t return banking to the Wild West days that preceded the financial crisis.”
    On Feb. 7, 2011, I watched on ABC news when President Barack Obama implored business owners at the Chamber of Commerce in Washington, D.C., to start investing and hiring.
    And, he said, “They’ve got plenty of cash on hand to do it.” And I know that many of you have told me that you’re waiting for demand to rise before you get off the sidelines and expand, and that with millions of Americans out of work, demand has risen more slowly than any of us would like.” "We’re in this together, but many of your own economists and salespeople are now forecasting a healthy increase in demand, so I just want to encourage you to get in the game." "So if I’ve got one message, my message is now is the time to invest in America. American companies have nearly $2 trillion sitting on their balance sheets.”
    The Federal Reserve confirmed what Obama stated the next day. "Rather than pouring their money into building plants or hiring workers, nonfinancial companies in the U.S. were sitting on $1.93 trillion in cash and other liquid assets at the end of September, up from $1.8 trillion at the end of June, Cash accounted for 7.4 percent of the companies' total assets — the largest share since 1959.
    The economy gained a net 11.6 million jobs. The unemployment rate dropped to below the historical norm. Average weekly earnings for all workers were up 4.0 percent after inflation. The gain was 3.7 percent for just production and nonsupervisory employees. After-tax corporate profits also set records, as did stock prices. The S&P 500 index rose 166 percent.


  41. I had good work thoughout Obamas term. I have barely enough now .. under dmfp to pay my bills; luckily I paid off my house before the dmfp nightmare began! Not to mention the now Trillion + $ debt we now have

  42. Lame duck president, I don't know about you, but my paycheck went up since Trump. Never did like the leeches in the Tax system.

  43. Well considering the fact that the majority of jobs created under the Obama administration weren't created from his policies they were created by the startup App companies such as uber and lyft and services provided through smartphone apps. Uber and lyft alone created over 2 million jobs in the US.

  44. Over 600,000 new Manufacture jobs under TRUMP and Obama said Mfg jobs are dead. Hillary said – "We are going to put a lot of coal miners out of business" So Obama does not get the thanks for the 600,000 NEW Mfg jobs. Because they would do nothing to help Mfg jobs. Infact Hillary was going to try to put them (Coal Miners and all Non-Alternate energy jobs (Like oil) out of business.

  45. OBAMANATION was the biggest hoax ever perpetrated upon the American people!
    He was the most evil person ever to hold office as president! The people that cant see this are blinded by his propaganda and brainwashed by his lies!

  46. Nothing good. He was out to destroy the USA. With the help of the democrats, it almost worked. Thank god he did not have more time in office. Have you noticed he is willing to take all the credit for President Trumps hard work, but none of the problems he created. He has been a disgrace and will go down as the worst president in US history.

  47. If you just borrow 8 trillion dollars, divide it by 8 and the amount of the previous year GDP, which grow rate you get and what's the real number? 1/20=5%,

  48. Only thang his military policy and Obama was born too be a one of the president. Blaming bussinesses sector but it was happened by past wars but trying too protect america

  49. But I am extremely bias and love the great white hair father as a general then President. Most accomplishment are bringing bin laden and one the leaders in 911 and trying too pass economic stimulus recovery policy in which he unified Democrats party and winning any republican hopefuls. And bringing on the millennium's future.

  50. Obama not only failed the American people he also failed the black race of people worse than the rest of us. Obama lied to us all and to his own race more than all of us. He was the biggest lier since Bill Clinton and his lying wife. Don't get me wrong we have many great black people in America that would make a great president that has a proven record of being great but Obama was nowhere close to being that person. He had no integrity then and he still has none.

  51. He was filibustered obstructed more than every last president in American history. Mitch McConnell bragged about it and was proud of all the filibusters. Look up all the obstruction. Obama still created more jobs between 2014- 2016 than Trump created between 2017-2019. Fact check it especially look at 2014

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