The Strategist

Ten facts about Barack Obama’s presidency

01/24/2017 - 14:10

Barack Obama was the 44th US president, and his 8-year presidential term ended on January 20. During these eight years, the country was faced with the worst economic disaster since the Great Depression. As a result, the U.S. has changed its economy and political system. In addition, during all eight years the country has been at war with different groups and for different reasons.

All changes, which have occurred during the Obama presidency, have had a serious impact not only on the U.S., but also on the entire world.

Here are some important facts about outcome of Barack Obama’s presidential term.

1. Unemployment

The recession has adversely affected living standards of many American citizens. Presently, experts note that the unemployment rate has fallen, and that the worst days of the economic crisis are over.

According to the US Bureau of Labor Statistics, seasonally adjusted unemployment resulted in the following facts:

• The unemployment rate was 7.8% when Barack Obama came to power in January 2009.

• Unemployment reached its maximum value in October 2009, amounting to 10%.

• In December 2016, at the end of the presidential term of Barack Obama, the rate was 4.7%.

2. Oil

Oil prices fell sharply during Obama’s presidency partly in connection with the fossil fuels revolution and large-scale production in other countries.

Here is the current situation:

• Price of Brent crude oil is around $ 55.

• Retail price of a gallon of gas is a little more than $ 2.

3. Stock Market

Once Donald Trump won the presidential election in the United States, the market was stirred with rally. At the moment, some papers reached nearly record indicators.

This is how the major indexes looked like at the end of Barack Obama’s presidential term in January 3, 2017:

• Dow Jones: 19,881.76

• S&P: 2,257.83

• Nasdaq: 5,429.08

4. The drug crisis

Number of deaths associated with drug overdose increased during Barack Obama’s presidency. More people now are dying from heroin overdoses and painkillers prescribed by physicians.

5. Marijuana legalization 

States with legalized marijuana and hemp experienced better times under Obama’s presidency. When he came to power, the use of marijuana had not been legalized in any of the states.

Now the map of cannabis legalization includes 19 states (allowed for medical use). 8 states, as well as DC, also permit other purposes. 

6. Health care

The Affordable Care Act implies expansion of state health care program for the poorest Americans. However, this law has caused resistance from state governments and some Republicans. Only a small majority of the states has decided to expand the Medicaid program by the end of the Obama presidency (31 states according to Kaiser Family Foundation’s data).

7. Insurance

Economic ramp-up and adoption of the Affordable Care Act, also known as Obamacare, provided most of the population with health insurance.

8. Government debt

By the end of Barack Obama's presidential term, the country’s public debt has almost doubled to nearly $ 20 trillion.

More specifically, the Ministry of Finance of the USA on January 13, 2017 stated that the US public debt amounted to $ 19,940,614,376 504.40.

9. Deportation

During its election campaign, Donald Trump announced that he would create a special body to deal with deportation of illegal immigrants. Despite the fact that Barack Obama has criticized statement of his counterpart, reality suggests that millions of people were detained and deported during his presidency.

Maximum number of deportees - 434 015 people - was noted in 2013.

10. Interest rate and inflation

The Fed has raised interest rates by 0.25% in December 2016 for the second time after the end of the financial crisis.

In 2008, the rates were almost equal to zero. Many expressed concern that Fed’s policy would lead to a sharp rise in inflation. Nevertheless, inflation has not grown within a few years.


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