Economic policy of the Barack Obama administration information
Economic policies promoted by U.S. President Barack Obama
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Main article: Political positions of Barack Obama
The economic policy of the Barack Obama administration, or in its colloquial portmanteau form "Obamanomics", was characterized by moderate tax increases on higher income Americans designed to fund health care reform, reduce the federal budget deficit, and decrease income inequality. President Obama's first term (2009–2013) included measures designed to address the Great Recession and subprime mortgage crisis, which began in 2007. These included a major stimulus package, banking regulation, and comprehensive healthcare reform. As the economy improved and job creation continued during his second term (2013–2017), the Bush tax cuts were allowed to expire for the highest income taxpayers and a spending sequester (cap) was implemented, to further reduce the deficit back to typical historical levels. The number of persons without health insurance was reduced by 20 million, reaching a record low level as a percent of the population. By the end of his second term, the number of persons with jobs, real median household income, stock market, and real household net worth were all at record levels, while the unemployment rate was well below historical average.[1][2][3][4][5]
^"In Defense of Obama". Rolling Stone. 2014-10-08. Retrieved November 19, 2016.
^"CEA 2017 Economic Report of the President-Chapter One-Eight Years of Recovery and Reinvestment" (PDF). Whitehouse.gov. Retrieved March 12, 2017.
^"Everything is Awesome". Politico.com. Retrieved December 30, 2016.
^Jackson, Brooks (January 20, 2017). "What President Trump Inherits" – via Factcheck.org.
^Jackson, Brooks (September 29, 2017). "Obama's Final Numbers" – via Factcheck.org.
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