In 2008, Barack Obama made history by being the first African American President in the United States. With his 2008 campaign, Obama used the words "Hope" and "Change" which built high expectations for his 4 year term. As we move into his last year of his term, let's recap what has done on so far.
In 2009, Obama released the American Recovery and Reinvestment Act. The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage. The Act included direct spending in infrastructure, education, health, and energy, federal tax incentives, and expansion of unemployment benefits and other social welfare provisions. Although there were a lot of mix reviews on the package, there are no sure answers if it was beneficial to the economy.
In 2009 Obama also won the Nobel Peace prize for "Effort"
During Barack Obama's term he received tons of racist comments and backlash in public from congress members, black leaders, and entertainers as well.
On May 1st 2011, Obama done something the former president could not do, he found and killed Osama Bin Laden, and brung thousands of troops back home.
During his time, the country has seen the highest unemployment rate at 10.2%
This month Obama released the Job Act. A lot of people don't know what is in this Act, so here is a quick analysis.
$78 billion in tax cuts for businesses:
$65 billion cut payroll taxes in half from 6.2% to 3.1% on first $5 million in payroll
and from 6.2% to 0 on first $50 million in wages for new hires
$5 billion for 100% expensing on new plants and equipment, available to both large and small firms
$8 billion for $4,000 tax credits to hire those unemployed more than 6 months
$105 billion for infrastructure projects
$50 billion for transportation projects
$10 billion for an infrastructure bank
$30 billion to modernize schools
$15 billion in neighborhood stabilization (keeping up properties that banks don't)
$35 billion to rehire teachers and first responders ($30 billion for teachers; $5 billion for first responders)
$175 billion to cut employee payroll taxes in half from 6.2% to 3.1%
$54 billion for unemployed
$49 billion for an extension of Unemployment Insurance
$5 billion for transitional work programs
The Rasmussen Reports daily Presidential Tracking Poll for Wednesday, September 28th, shows that 22% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-one percent (41%) Strongly Disapprove.
After seeing the video and with the quick written recap. Do you think we expected too much of Obama's term? Was their too much on his shoulders before he entered his presidency. Could any one else have done a better job? What do you think of our President Barack Obama!?!?
