During the Obama era, the president faced significant economic challenges including a recession and high unemployment. While able to work with a Democratic congress initially, subsequent years saw more gridlock. Key issues included job growth, GDP levels, healthcare reform, budget deficits, income inequality, environmental policies and race relations. The administration cited positive statistics on private sector job gains but critics argued the recovery was weaker than other presidents.

1. Obama Era for the
United States

2. Disclaimer

3. Paul Young -
Presenter
Bio
 CPA/CGA
 25 years of experience in Academia, Industry and
Financial solutions
 Youtube Channel -
https://www.youtube.com/channel/UCAArky1bAXPS
uV2NLtUnyLg

4. Agenda
 Who was President Obama
 China and the USA
 What as Tarp?
 Federal Reserve
 Who is the Federal Reserve?
 Is the Federal Reserve independent?
 Keynesian Economics
 Job Creation
 GDP/USA
 Housing Starts
 Income inequality
 Environment / Energy
 Environment / Clean Technology
 Blog – Obama
 ObamaGate
 USA Crime Rate by year
 Race Relations
 Fiscal Management
 Training

5. President
Obama
 When President Obama took office, he faced very
significant challenges. The economy was officially in a
recession, and the outgoing administration of George
W. Bush had begun to implement a controversial "bail-
out" package to try to help struggling financial
institutions. In foreign affairs, the United States still
had troops deployed in Iraq and Afghanistan.
 During the first half of two years of his first term,
President Obama was able to work with the
Democratic-controlled Congress to improve the U.S.
economy, pass health-care reform, and withdraw most
U.S. troops from Iraq. After the Republicans won
control of the House of Representatives in 2010, the
President spent significant time and political effort
negotiating, for the most part unsuccessfully, with
Congressional Republicans about taxes, budgets, and
the deficit. After winning reelection in 2012, Obama
began his second term focused on securing legislation
on immigration reform and gun control. When the
Republicans won the Senate in 2014, however, he
refocused on actions that he could take unilaterally,
invoking his executive authority as President. In
foreign policy, Obama concentrated during the second
term on the Middle East and climate change.

6. China and the USA
Source -
https://www.thebalance.com/u-s-
china-trade-deficit-causes-effects-
and-solutions-3306277

7. TARP
 Treasury established several programs
under TARP to help stabilize the U.S.
financial system, restart economic
growth, and prevent avoidable
foreclosures.
 Although Congress initially authorized
$700 billion for TARP in October 2008,
that authority was reduced to $475
billion by the Dodd-Frank Wall Street
...

8. Role of the
Federal
Reserve
Role
 The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the
central bank of the United States. It was created by the Congress to provide the nation with a safer,
more flexible, and more stable monetary and financial system. The Federal Reserve was created on
December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law. Today,
the Federal Reserve's responsibilities fall into four general areas.
 Conducting the nation's monetary policy by influencing money and credit conditions in the
economy in pursuit of full employment and stable prices.
 Supervising and regulating banks and other important financial institutions to ensure the
safety and soundness of the nation's banking and financial system and to protect the credit
rights of consumers.
 Maintaining the stability of the financial system and containing systemic risk that may arise
in financial markets.
 Providing certain financial services to the U.S. government, U.S. financial institutions, and
foreign official institutions, and playing a major role in operating and overseeing the
nation's payments systems.
 Independent
 The Federal Reserve, like many other central banks, is an independent government agency
but also one that is ultimately accountable to the public and the Congress. The Congress
established maximum employment and stable prices as the key macroeconomic objectives
for the Federal Reserve in its conduct of monetary policy. The Congress also structured the
Federal Reserve to ensure that its monetary policy decisions focus on achieving these long-
run goals and do not become subject to political pressures that could lead to undesirable
outcomes. So, members of the Board of Governors are appointed for staggered 14-year
terms and the Chairman of the Board is appointed for a four-year term. Elected officials
and members of the Administration are not allowed to serve on the Board.
 The Federal Reserve does not receive funding through the congressional budgetary process.
The Fed's income comes primarily from the interest on government securities that it has
acquired through open market operations. Other sources of income are the interest on
foreign currency investments held by the Federal Reserve System; fees received for
services provided to depository institutions, such as check clearing, funds transfers, and
automated clearinghouse operations; and interest on loans to depository institutions. After
paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S.
Treasury.

9. Keynesian
Economics
Article from 2012
 Apparently determined to prove once more that Keynesian
economics doesn’t work, Obama’s first major act in office was
to pursue the unreconstructed Keynesianism of the nearly $1
trillion so-called “stimulus,” which we now know didn’t
stimulate anything except government spending, deficits and
debt. Obama promised us at the time that if his “stimulus” bill
passed, the unemployment rate would never exceed 8%, and
would decline to 5.8% by May of this year. But in reality it was
8.2% and rising in May.
 Last Friday’s jobs report for June indicated that the most
commonly cited U3 unemployment rate remains stuck at
8.2%. That makes 41 straight months of unemployment over 8%,
which the Joint Economic Committee of Congress confirms is the
worst recovery from a recession since the Great Depression
almost 75 years ago. Indeed, the last time before Obama that
unemployment was even over 8% was December, 1983, when
Reaganomics was bringing it down from the Keynesian fiasco of
the 1970s. It didn’t climb back above that level for 25 years, a
generation, which is another measure of the spectacular success
of Reaganomics.
 http://thefederalist.com/2014/02/21/obamas-stimulus-five-
years-of-keynesian-fairy-dust/ or
http://www.forbes.com/sites/peterferrara/2012/07/12/obama
nomics-the-final-nail-in-the-discredited-keynesian-
coffin/#629fe53c2167

10. Job
Creation/Obama
 Anyone claiming that America's economy is in decline is peddling fiction," Obama said, a direct swipe
at Donald Trump and other Republicans in the 2016 presidential race.
 The president backed up his optimism with these statistics: "We're in the middle of the longest
streak of private-sector job creation in history. More than 14 million new jobs; the strongest two
years of job growth since the 1990s; an unemployment rate cut in half."
 He's correct...if you look at the data in the most favorable way possible for him.
 The United States has only added about 9.3 million jobs during his term -- from the time Obama took
office in January 2009 through December 2015.
 That's the most conventional way to assess a president's economic track record. Viewing it that way
means Obama is pretty far behind the job creation of Reagan and Clinton.
 So how does the White House come up with "more than 14 million new jobs" added?
 The Obama administration derives that figure by looking at how many private sector jobs (so
excluding government jobs) have been added since the lowest point during the Great Recession.
 In other words, instead of starting at January 2009, the White House starts the clock in February
2010. The Obama team argues that it took time for the administration's policies to take effect to get
the country out of the crisis.
 By that metric, Obama looks a lot better compared to recent presidents.
 Obama is still behind Clinton, but he's about on par with Reagan, although it's notable that the U.S.
population is a lot bigger today than during the 1980s, so Reagan created more jobs on a
proportional basis than Obama has.
Source: http://money.cnn.com/2016/01/13/news/economy/obama-jobs-state-of-the-union/

11. GDP Growth
Obama is the only U.S. chief executive in
history not to preside over even a single year
with 3 percent GDP growth, as the Institute
for Policy Innovation’s Tom Giovanetti
observes:
• ‘From 1790 to 2000, U.S. real GDP growth
averaged 3.79 percent,’ entrepreneur
Louis Woodhill explained at
RealClearMarkets.
• He expects final figures to show that
‘2015 will have been the tenth year in a
row that real GDP growth came in at
under 3.0 percent.’
• During the Obama years, the number of
Americans below the poverty line is up 3.5
percent. Real median household income:
down 2.3 percent.
• Americans on Food Stamps — 33 million
then, 46 million now: up 39.5 percent.
Americans who own homes: down 5.6
percent. National debt — $10.63 trillion
then vs. $19.19 trillion last Wednesday: up
80.5 percent.
Read more at:
http://www.nationalreview.com/article/4

12. Housing Sector

13. USA Middle Class
 https://www.youtube.com/watch?v=xqLDHQ-iJU8

14. Environment /
Obama –
Energy
 Crude oil pipeline mileage rose 9.1 per
cent last year alone to reach 66,649
miles, according to data from the
Washington, D.C.-based Association of
Oil Pipe Lines (AOPL) set to be
released soon.
Source:
http://business.financialpost.com/news/e
nergy/america-has-built-the-equivalent-
of-10-keystone-pipelines-since-2010-and-
no-one-said-anything

15. Environment
– Clean
Technology

16. Blog – Obama
Obama failures
 https://www.slideshare.net/paulyoungcga/obama-era-for-
united-states
 Obamacare - https://www.wsj.com/articles/obamacare-is-
popular-because-it-failed-11556317208
 GDP - https://nypost.com/2015/02/08/pay-no-attention-to-the-
real-economy-behind-the-curtain/
 Clean Technology -
https://www.dailysignal.com/2012/10/18/president-obamas-
taxpayer-backed-green-energy-failures/
 Poverty – where did that decrease under Obama -
https://www.washingtonpost.com/business/2019/09/10/us-
poverty-rate-fell-lowest-since-while-uninsured-rate-rose-census-
says/
 China trade deficits USA
https://www.usnews.com/news/articles/2017-02-07/trade-
deficit-hits-4-year-high-in-obamas-final-year
 Foreign Policies -
https://foreignpolicy.com/2016/04/07/obama-was-not-a-
realist-president-jeffrey-goldberg-atlantic-obama-doctrine/ or
https://www.washingtontimes.com/news/2017/jan/15/presiden
t-obama-foreign-policy-widely-seen-as-
fail/?utm_source=GOOGLE&utm_medium=cpc&utm_id=chacka&u
tm_campaign=TWT+-+DSA&gclid=CjwKCAjw7-
P1BRA2EiwAXoPWA6rKQnYgmTaENVXVFsgCBHpMDIVpmcd3wBWF
OCudVheufieJnmF-shoCcFQQAvD_BwE

17. USA Crime Rate
Source -
http://www.disastercenter.com/cri
me/uscrime.htm or
https://www.statista.com/statistic
s/191219/reported-violent-crime-
rate-in-the-usa-since-1990/

18. Obamagate  Obama entrapment -
https://www.dailymail.co.u
k/news/article-
8300035/President-Obama-
surprised-DoJ-officials-
knowledge-Michael-Flynns-
wiretapped-calls.html
 Obama and Trump hatred -
https://nypost.com/2020/0
5/10/michael-flynn-fiasco-
will-reveal-obamas-truth-
devine/
 AG / Barr -
https://abcnews.go.com/Po
litics/2000-doj-officials-call-
ag-barr-resign-
flynn/story?id=70615677

19. Race Relations / Obama
 Obama / Race Relations - https://www.cnn.com/2016/10/05/politics/obama-
race-relations-poll/index.html
 Shooting by Race
https://www.statista.com/statistics/585152/people-shot-to-
death-by-us-police-by-race/

20. Fiscal Management
Source - https://www.manhattan-institute.org/html/obamas-fiscal-legacy-
comprehensive-overview-spending-taxes-and-deficits-10669.html

21. Other Sources
 If you like to learn more
about trade and/or
other subjects as part
of your professional
learning and
development then feel
free to review my
material on
https://www.udemy.co
m/ (search Paul Young
CPA CGA

22. Links/Sources:
 http://www.slideshare.net/paulyoungc
ga/is-global-economic-stimulus-
required-to-support-slow-world-
economic-growth
 http://www.slideshare.net/paulyoungc
ga/why-is-the-world-heading-for-slow-
economic-growth
 Clinton Years -
http://www.slideshare.net/paulyoungc
ga/bill-clinton-president-of-usa-era