- [T"' reasury Department Confirms President Obama has fully ;;, J_ turned around the U . S . Economy 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 .
even years ago , the unemployment rate and deficits were higher , but " where we are now , we ' re seeing steady growth , we ' ve seen enormous job creation over this period of time , we ' re seeing the unemployment rate around 5 percent , and we ' re seeing that growth in spite of the fact that there ' s a lot of headwinds from a slower global economy ," he told Program Success .
Treasury Secretary Jack Lew also 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 seventytwo percent . But the Secretary says there are still challenges ahead .
ew points to the inequality 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 ha
Treasury Department
Confirms
PRESIDENf OBAMA has fully turned around the U . S .
Economy
President Barack Obama Treasure Department Confirms U . S . Economy fully turned around . Washington D . C . Black History 2016