It’s morning in America. When President Obama took office the Dow was at 7,949. On Friday, October 31 the stock market has hit an all time high. The Dow closed at 17,390, an increase of 220 percent since Obama took office. In October 2009, the unemployment rate reached 10 percent. Now the unemployment rate has fallen to 5.9 percent, the largest drop in unemployment since Franklin Roosevelt. There have been 56 consecutive months of private sector job growth, a new record in presidential history. There have been over 10 million private sector jobs created. Jobless claims have fallen so dramatically that last months number of jobless claims were the fewest since May of 2000, the lowest in 14 years. Consumer confidence is the highest it has been since 2007. Quarterly GDP growth is up to an average of 3.5 percent per quarter. Since 1947, the average rate of economic growth has been 3.2 percent. Not only does quarterly GDP growth outperform the historical average, it is also a huge improvement from when Obama took office when our GDP growth was negative 5.4 percent due to the 2008 financial crisis.
Since implementation, the Affordable Care Act has impacted the uninsured. The percentage of uninsured Americans is at an all time low at roughly 13 percent. Over 10 million people have medical insurance that previously did not. Because of the ACA, Medicare is solvent for 20 additional years.
The budget deficit has been dramatically decreased under Obama. Upon taking office, Obama’s first budget had a deficit of $1.4 trillion, now the budget deficit is $492 billion, a decrease of 65% over the course of five years. The rate of growth in the federal budget is only 1.4% and is at its lowest rate since the Eisenhower administration in the 1950s. Obama has cut taxes for everyone making less that $400,000 yearly. In fact, taxes have been cut in 2009, 2010, 2011 and 2013 under Obama. For 98 percent of taxpayers, tax rates are at their lowest since the 1960s.
When Obama took office 295,000 troops were deployed overseas, now that figure is around 40,000. The world’s most wanted man, Osama Bin Laden, is dead. Dictators in Tunisia, Libya, and Egypt have been toppled. Two women are now on the Supreme Court and we have our first female Federal Reserve chairperson.
Obama deserves criticism. He is human and has made mistakes. Everyone can find something in his record that is questionable. He has chosen a number of policies that have been detrimental to Americans and the world. We know this fact. When polled, two thirds of Americans consistently say the country is on the wrong track. The truth is there are reasons to be optimistic about the future. We have made progress in the last few years and many of these factors would be true regardless of who is president. It’s morning in America.