Obama Has Done It!

"President Obama’s seven year quest to salvage the U.S. economy from the damage done to it by his predecessor George W. Bush has been an overwhelming success, according to the United States Treasury Department. Obama took over as President at a time when the economy, stock market and banking system had collapsed and were on the verge of throwing the nation into a depression due to Bush’s failed policies. But Obama’s initiatives prevented that from happening, and now the Treasury says he’s fully turned the economy around.

 

Treasury Secretary Jack Lew has confirmed what economists and those familiar with economic policy have already known: the U.S. economy has been growing at a steady rate for several quarters, private sector job growth is consistently high, the unemployment rate has been reduced all the way down to the five percent level which economists view as ideal, and the stock market has grown tremendously. This all occurred even as President Obama reduced the annual federal deficit by seventy-two percent. But the Secretary says there are still challenges ahead.

 

Lew points to the inequality between the wealthy and the working class, and business tax loopholes, as areas of concern; Obama has tried to tackle both but has faced republican opposition. But he says Social Security is in far better shape than most Americans believe. The Hill has more from the Treasury Secretary."

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Fantastic news for America!

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http://www.dailynewsbin.com/news/treasury-department-confirms-president-obama-has-fully-turned-around-the-u-s-economy/23369/

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"Secretary Jack Lew said Wednesday. 

 
Seven years ago, the unemployment rate and deficits were higher, but "where we are now, we're seeing steady growth, we've seen enormous job creation over this period of time, we're seeing the unemployment rate around 5 percent, and we're seeing that growth in spite of the fact that there's a lot of headwinds from a slower global economy," he told Fox Business Network.
 
Lew said the U.S. still has challenges, such as income inequality and deficits. But he said the country is in a good position to tackle its domestic and international challenges. One issue the Treasury secretary said he would like to work on business tax reform.
 
"We have a broken business tax code, and I think that's something that we have recognized for years and proposed tax reform, and Republicans have recognized for years," he said. 
 
"I hope we can sit down and work together in a bipartisan basis to deal with this."
 
He said the corporate tax code has so many loopholes that the statutory rate is among the highest in the world. As a result, companies are undertaking maneuvers such as "inversions," in which companies move their legal addresses overseas. 
 
Lew stressed that while Treasury has put out guidance to slow the pace of inversions, only legislation can stop them.
 
Lew said that "people shouldn't panic about Social Security" because it's 75 percent funded under the worst scenarios. 
 
But he added that Social Security was never intended to be people's sole source of retirement income. He encouraged people to look into Treasury's myRA retirement savings program.
 
Speaker Paul Ryan (R-Wis.) has committed to considering legislation providing relief to Puerto Rico by March 31. Lew called for Puerto Rico's roughly $70 billion of debt to be restructured.
 
"Puerto Rico needs to sit down, it needs to work with all of the stakeholders to come up with a viable path forward so there can be an economic plan for the future," he said."
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http://thehill.com/policy/finance/264205-treasury-head-us-economy-better-now-than-when-obama-took-office
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Comments (48)

  1. This comment has been deleted
  2. 29A

    “…the stock market has grown tremendously. "
    .
    The stock market only grew because the US economy was better relative to other markets, and then QE 1, 2, 3, which only benefited the rich – the result, inequality is worse now than before.
    .
    https://en.wikipedia.org/wiki/Quantitative_easing

    February 11, 2016
    1. This comment has been deleted
      1. 29A

        Bulls and bears; fear and greed; stock valuations have little bearing on reality.

        February 11, 2016
        1. This comment has been deleted
          1. 29A

            Yes, I noted shocks have, "..little bearing on reality. "
            .
            If you weren’t trying to disagree so much, you wouldn’t try to argue that my point is any different from your words, “virtual reality”.

            February 11, 2016
            1. This comment has been deleted
      2. 29A

        Never said it wasn’t.

        February 11, 2016
        1. This comment has been deleted
      3. 29A

        Poor language [be specific], or the context is unclear?

        February 11, 2016
        1. wirelessguru1

          Look, your language skills are very poor, so no wonder you want to imitate others like the livelonger zealot!!!

          February 11, 2016
      4. 29A

        Since you failed to be specific, it’s obvious…you have difficulties with plain English.

        February 11, 2016
        1. wirelessguru1

          No, YOU have difficulties with plain English since YOU do not talk straight!!!
          It is like you talk in some sort of “twisted legalize” type of English!!!

          February 11, 2016
      5. 29A

        Your aphasia is not my problem.

        February 11, 2016
        1. wirelessguru1

          February 11, 2016
        2. mrmacq

          her brain damage is not going to allow her to understand those fancy words
          you might try words with one syllable or less
          (grunts dont count as words. and appears to be neos preferred method of communication)

          February 12, 2016
          1. wirelessguru1

            Buffoon, what fancy words?

            February 12, 2016
      6. wirelessguru1

        Fake patriot, the stock market is crashing now!!!!!!!!!!!!!

        February 11, 2016
        1. wirelessguru1

          Fake patriot, what video games?
          Is anybody home!!!???

          February 12, 2016
  3. mrmacq

    What? ya mean a black dude can do it better than a white repulsive?
    say its not so
    …just imagine what a socialist might be able to do
    even though sanders aint a socialist
    unless
    one considers every other free world nation as being socialist
    yes
    thats how stupid they are
    anyhoos back on topic
    congrats america…you obviously elected the right man

    February 11, 2016
    1. wirelessguru1

      So buffoon (macq-dildo), do you really believe that Bernie has a chance to win against Trump!? LOL!!!

      February 11, 2016
    2. ThisandThat

      Bernie is far left of Socialism. If he had his way, Communism would be the order of the day.

      February 11, 2016
      1. mrmacq


        .
        and there ya have it people
        idiocy in action

        February 11, 2016
        1. wirelessguru1

          Buffoon (macq-dildo), is that what you’re doing?

          February 11, 2016
      2. mrmacq

        thee person, or persons that taught him how to bash keys…needs to be shot

        February 11, 2016
    3. ThisandThat

      Your right – even our 51st state has socialism.

      February 11, 2016
      1. mrmacq

        i know what youre implying and no
        thats just your super ego getting in the way

        February 11, 2016
        1. ThisandThat

          No ego here, but when you’re good, you’re good.

          February 11, 2016
          1. mrmacq

            so…
            when you plannin on getting good?

            February 11, 2016
          2. mrmacq

            …instead of just an arrogant son of a bitch?

            February 11, 2016
            1. wirelessguru1

              That would be you, of course.

              February 11, 2016
            2. mrmacq

              i’m not the one neo that implied that the US was just another province of cauckistan
              neither am i the one always spewing out “a new NAU is required”
              all the while ignoring others that might just have a say in the matter
              so just who is the arrogant one neo?
              none of your stupid games neo
              be honest for once
              who is the arrogant one?

              February 12, 2016
            3. wirelessguru1

              YES. Arrogant Canadian buffoons have no say in the matter of a new NAU.
              If you are not interested we will just ship you to Prince Edward Island.

              February 12, 2016
            4. mrmacq

              fucking child

              February 12, 2016
            5. wirelessguru1

              YES YOU ARE.

              February 12, 2016
            6. mrmacq

              youre going to have to ship 34 million of us to PEI then
              ’cause thats how many canucks that would refuse to join your stupid movement
              …and why PEI? anyway?
              you say the stupidest shit

              February 12, 2016
            7. wirelessguru1

              Buffoon, you do not represent 34 million! LOL!!!

              February 12, 2016
      2. wirelessguru1

        Demons like that mrmacq-dildo buffoon hate the ego!

        February 11, 2016
        1. ThisandThat

          Indeed. By the way, can we send our Northern friend a keyboard that has a “cap” key and “period” and “comma” keys? The rambling aside, it is hard to decipher his postings sometimes.

          February 12, 2016
          1. wirelessguru1

            Well he speaks Canadian, some sort of mixture between English and French! LOL!!!

            February 12, 2016
  4. Gulfman

    If the economy is so good why are Hillary and Bernie constantly talking about how bad it is in their debates?

    February 12, 2016
    1. ThisandThat

      Typical Democratic fear tactics. When you can’t argue on policy or facts, you resort to fear mongering.

      February 12, 2016
  5. Gulfman

    And another thing,why doesn’t Yellen raise the interest rates?Interest rates should be over 10% like when Clinton was President.

    February 12, 2016
    1. wirelessguru1

      She raised them and the markets immediately crashed…

      February 12, 2016
    2. wirelessguru1

      Those were the good old days! Wake up!!!

      February 12, 2016
  6. deaconjim

    Yep. It’s hard to say what might have been, but McCain and Palin weren’t going to solve W’s economic disaster.

    February 11, 2016
  7. wirelessguru1

    We’re heading towards a CRASH!!!

    February 11, 2016
  8. ThisandThat

    More likely Obama is the anti-christ, empowered by Satan, and intent on destruction. He’s doing a good job so far to that regard.

    February 11, 2016
    1. mrmacq

      oh fer fucks sake
      can always count on the religidiots to pull something out of their ass

      February 11, 2016