Looking back to Obama’s first year

Here are some simple statistical charts comparing where we were when Bush left office in January 2009 to where we were after one year of Obama in January 2010.

Job Rate

Economic Growth

Stock Market

Or here’s a slightly different issue. Some may look at the charts above and say, “Well, OK, he improved the economy but did so by driving up the deficit with increased government spending.” The chart below shows that this too is false. The deficit has gone up, but not because of govt spending (the red bar, which is about the same now as it has been since Bush took office in 2001) – it is because the disastrous economy that Bush left behind in 2009 meant an enormous drop in revenue (the green bar). A shrinking economy, soaring unemployment, and huge tax breaks for the rich meant a huge drop in the amount of tax money coming in (the green bar).

(Bureau of Economic Analysis)

In light of these charts, you can decide whether we’re moving in the right direction or whether we should go back to the trajectory the Republicans had us on in Jan. 2009.

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3 thoughts on “Looking back to Obama’s first year

  1. Life was easier when you coined the phrase – “horizonta living – that’s where it’s at”, now that was good times and way before Bush and Obama. I mis those days my old philosophical buddy.

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  2. I wish that people who praise Obama’s “economic recovery” would stop and look at the losses of American manufacturing jobs to countries that have slave wages and no enviromental controls. The stock market is doing well because of the low cost of production due to the American losses.
    What made our country great was middle class manufacturing jobs. Until both political parties understand that cheap energy, reasonable environmental law and corporate tax rates that reward American based manufacturing jobs there will be no true economic recovery.

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