Writer criticizing Obama fails to examine the facts
The author of the letter, “Obama’s policies have failed to turn the economy around,” is obviously intent on making a political statement in opposition to our president rather than correctly stating the current status of our economic recovery. Fact: The policies of the previous administration led this country into the most recent recession, reaching its nadir in March 2009 (two months after the previous administration left office) while the current administration has led its recovery, now in its sixth year – longer than any since World War II, but a recovery nevertheless.
The evidence has been widely reported, so there should be no question. Consider: The Gross Domestic Product now exceeds the levels recorded in 2009 by 15 percent or more. Employment lost during the recession has been fully restored. The unemployment rate has returned to 5 percent, as recently reported, a rate considered to reflect full employment under ideal economic conditions. And corporate profits now exceed peak profits recorded at any time on record.
In response, the stock market is now teetering at an all-time high, having recovered 200 percent from March 2009, the year President Obama assumed office. And the wealthy? Well, they have probably doubled or tripled their wealth in the interim. What’s not to like? I guess you could say that the recovery could have been more inclusive/faster if the Republican Congress had been more assertive in working with our president during the past six years instead of trying to remove him from office at every turn!