Richard94611

Treasury Department confirms President Obama has fully turned around the U.S. economy
By Bill Palmer | December 27, 2015 | 957

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 ine******y 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. If you enjoy Daily News Bin, consider making a contribution:

JFlorio Loc: Seminole Florida

Obama's treasury department confirms? Who'd of thunk it? We have never taken this long to barely recover from a recession. The crash happened during Bush's presidency but the problems started way before Bush. He still deserves blame for not trying to fight the problems. Wages have been stagnate under this president and he has spent trillions more than any other president and we still have around 2% growth. Pitiful. he has also had the benefit of measuring his economic success starting from a very low point. He also benefits from artificially low interest rates and a propped up stock market due to the over printing of money. His health care law is a huge full time jobs k**ler. He will go down as one of the worst economic presidents in history.

Blade_Runner Loc: DARK SIDE OF THE MOON

Somebody's full of s**t, right JF? Thanks to Obama's onerous regulations (mainly the EPA) and his Marxist redistribution of wealth, the American economy is in worse shape than even when Carter was growing peanuts. Since Obama took office, government jobs (which produce nothing and do nothing but milk the taxpayers) now outnumber private sector manufacturing jobs by 9,977,000.

This chart makes it clear:

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JFlorio Loc: Seminole Florida

The same people that have just been lied to over and over by this administration, pollsters, and MSM still want to believe these entities. Priceless!

kankune Loc: Iowa

OMG....thank you so much for that post. Could you please help me go to map quest and find that utopia twilight zone?? Cos I've been looking for 8 years and have not found it YETTTT......

peter11937 Loc: NYS

68 days to go, then O is gone........ please hurry up!

PeterS

This comes from the view point of an economist. It has nothing to do with the reality created by conservatives...

PeterS

How does your chart make anything clear? What did the Reagan economy look like compared to the Clinton economy or the GW Bush economy look compared to either of the two or to the Obama economy? As for your fear that Obama turned us into a Marxist nation--we traded our manufacturing base for low cost products--that was purely a market based capitalistic decision. If you want to return back to large manufacturing base again then we need to be cost competitive so will have to eliminate taxes, all regulations, and ask people to work for 3 dollars or less per hour or less.

But hey, we love capitalism and h**e Marxism correct so who cares what our environment is like or how much people make just so long as we have more manufacturing jobs than government jobs correct!