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Pages: Obama hasn't done anything while in office [1]
Author Topic: Obama hasn't done anything while in office
jaye

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2010-09-19 14-19-09

Obama hasn't done anything while in office Passing stimulus, generating jobs. On February 17, 2009, Obama signed the $787 billion stimulus bill into law. In December 2009, the nonpartisan Congressional Budget Office issued a report estimating that "in the third quarter of calendar year 2009, an additional 600,000 to 1.6 million people were employed in the United States" due to that legislation. According to the White House Council of Economic Advisers, CBO has increased its estimate to 800,000 to 2.4 million additional employed through the fourth quarter of that year. Moreover, a November 20, 2009, New York Times article reported that the "consensus" among "dispassionate analysts" is that "the stimulus package, messy as it is, is working," citing nonpartisan analyses of gross domestic product and total employment figures by several companies specializing in economic forecasting. Further, a January 25 USA Today article stated that, according to its "quarterly survey of 50 economists," "[u]nemployment would have hit 10.8% -- higher than December's 10% rate -- without Obama's $787 billion stimulus program," adding, "The difference would translate into another 1.2 million lost jobs." Eliminating wasteful spending. Obama was able to achieve some significant cuts to wasteful spending -- most notably, the elimination of the F-22 fighter jet program after he successfully lobbied the Senate to vote to strip out financing for more jets from a defense funding authorization bill. The Washington Times reported on January 14 that Obama won "60 percent of his proposed cuts" and also managed "to get Congress to ax several programs that had bedeviled President George W. Bush for years." SCHIP expansion. On February 5, 2009, Obama signed a bill expanding the State ren's Health Insurance Program (SCHIP) to cover 4 million more lower-income ren. Credit card reform. On May 21, 2009, Obama signed into law a bill providing what USA Today ed the "most sweeping changes to the credit card industry in 40 years," adding restrictions on interest rate increases and fees and restricting the marketing of credit cards to college students. MORE:
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