When President Obama won election in 2008, United States was experiencing a great recession that was never seen since 1929 Great depression. President Obama inherited the depressing economy from President George Bush and the economic outlook was quite bleak with rising unemployment, growing debt and deficits.
The American economic landscape was in dire straits, one can correctly said that United States economy in 2008 was hemorrhaging; the economy was losing more than 700,000 jobs per month, and in the first 13 months of Obama’s administration the economy lost 4.316 million jobs. Stock Exchange was under-performing and Dow Jones Industrial Average was once at depressed 6,700.
President Obama and his economic team get to work immediately and finally they changed the economic climate. The bleeding has stopped and the economy has recovered all the lost jobs and added 5.4 million jobs in the last 32 months. In the dwindling manufacturing sector about 479,000 manufacturing jobs were created since 2010 and no matter how you look at it, it is a great achievement. Due to the competition coming from China and India on manufacturing sector, United States was losing those jobs but Obama’s trade policy is gradually but steadily reversing the course. And stock exchange has recovered and Dow Jones Industrial Average hit over 10,000 in 2012.
President Obama is strong on war against terrorism, and has decimated al-Qaeda globally. He ended the war in Iraq in accountable method and working responsibly to bring peace and stability in Afghanistan. President Obama Affordable Healthcare Act that was signed into law will extend healthcare insurance to all Americans.
President Obama has cut taxes for 98 percent American households and for small businesses. He bailed out Auto industry and saved more than one million auto industry jobs.
President Obama deserves a second term to finish the job he has started, the American people will support him and comes Tuesday he will win reelection.
Mr. Emeka Chiakwelu is the principal Policy Strategist at Afripol.