Monday, 19 September 2016

LESSON FOR BUHARI: How Obama Saved U.S. From Recession


President Barack Obama struggled with the 2008 financial crisis and controversy over the ambitious Affordable Care Act. 


Despite these challenges, he's managed to accomplish many great things. Here are the top eleven.

1. Ended the 2008 Recession In February 2009, Congress approved Obama's $787 billion economic stimulus package. It cut taxes, extended unemployment benefits, and funded public works projects. The recession ended six months later when GDP growth turned positive. 

In just seven months, ARRA pumped $241.9 billion into the economy, stirring growth to a robust 3.9% by early 2010. By March 30, 2011, nearly all ($633.5 billion) of the funds were spent.

Obama bailed out the U.S. auto industry on March 30, 2009. The Federal government took over GM and
Chrysler, saving three million jobs. It forced the companies to become more fuel efficient and therefore more globally competitive.

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