Question

Have the policies of President Obama and Congress led to the current economic situation? Why or Why not?

Answer 1

Obama came to power at the tail end of the great depression which had led to high unemployment rates, slowing growth rates. When he left the unemployment rates had fallen, the nation witnessed growth for consecutive 7 years.

Some of the economic policies include regulating banks, reforming health care, modernizing the auto industry, tax cuts in 2010, raised fuel efficiency standards, reduced carbon emissions and negotiated the worlds largest trade agreement, the trans-pacific partnership. All of these policies pushed the economy to the position it now is in.

Banks were regulated to place the necessary checks and balances in place and avoid another depression. The automobile industry was suffering the Obama government bailed it out by taking over the general motors and Chrysler. Obama was the biggest job-creating president in US history.