The document summarizes key aspects of the Obama era for the United States across multiple areas: - Obama faced significant economic challenges when taking office during a recession and implemented the TARP program and Keynesian economic policies to stimulate the economy. - Job growth occurred but was slower than under previous presidents. Unemployment remained high for many years after the recession. - GDP growth did not reach 3% in any single year under Obama, which had not happened previously. - The housing sector recovered slowly from the crisis and recession. Income inequality and numbers in poverty increased over Obama's terms. - Obama focused on environmental issues and clean energy but domestic oil and gas production also increased significantly during his

1. Obama Era for the United
States
By: Paul Young, CPA, CGA
Date: July 24, 2016

2. Disclaimer
• This presentation is on view of Obama era for the United States

3. Paul Young - Presenter
Bio
• CPA/CGA
• 25 years of experience in Academia, Industry and Financial solutions
• Youtube Channel -
https://www.youtube.com/channel/UCAArky1bAXPSuV2NLtUnyLg

4. Agenda
• Who was President Obama
• What as Tarp?
• Federal Reserve
• Who is the Federal Reserve?
• Is the Federal Reserve independent?
• Keynesian Economics
• Job Creation
• GDP/USA
• Housing Starts
• Income inequality
• Environment / Energy
• Environment / Clean Technology

5. President Obama
• When President Obama took office, he faced very significant challenges. The economy
was officially in a recession, and the outgoing administration of George W. Bush had
begun to implement a controversial "bail-out" package to try to help struggling financial
institutions. In foreign affairs, the United States still had troops deployed in Iraq and
Afghanistan.
• During the first half of two years of his first term, President Obama was able to work
with the Democratic-controlled Congress to improve the U.S. economy, pass health-care
reform, and withdraw most U.S. troops from Iraq. After the Republicans won control of
the House of Representatives in 2010, the President spent significant time and political
effort negotiating, for the most part unsuccessfully, with Congressional Republicans
about taxes, budgets, and the deficit. After winning reelection in 2012, Obama began his
second term focused on securing legislation on immigration reform and gun control.
When the Republicans won the Senate in 2014, however, he refocused on actions that he
could take unilaterally, invoking his executive authority as President. In foreign policy,
Obama concentrated during the second term on the Middle East and climate change.

6. TARP
• Treasury established several programs under TARP to help stabilize
the U.S. financial system, restart economic growth, and prevent
avoidable foreclosures.
• Although Congress initially authorized $700 billion for TARP in
October 2008, that authority was reduced to $475 billion by the
Dodd-Frank Wall Street ...

7. Role of the Federal Reserve
Role
• The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was
created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Federal
Reserve was created on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law. Today, the Federal
Reserve's responsibilities fall into four general areas.
• Conducting the nation's monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices.
• Supervising and regulating banks and other important financial institutions to ensure the safety and soundness of the nation's banking and financial
system and to protect the credit rights of consumers.
• Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets.
• Providing certain financial services to the U.S. government, U.S. financial institutions, and foreign official institutions, and playing a major role in
operating and overseeing the nation's payments systems.
• Independent
• The Federal Reserve, like many other central banks, is an independent government agency but also one that is ultimately accountable to the public and
the Congress. The Congress established maximum employment and stable prices as the key macroeconomic objectives for the Federal Reserve in its
conduct of monetary policy. The Congress also structured the Federal Reserve to ensure that its monetary policy decisions focus on achieving these long-
run goals and do not become subject to political pressures that could lead to undesirable outcomes. So, members of the Board of Governors are
appointed for staggered 14-year terms and the Chairman of the Board is appointed for a four-year term. Elected officials and members of the
Administration are not allowed to serve on the Board.
• The Federal Reserve does not receive funding through the congressional budgetary process. The Fed's income comes primarily from the interest on
government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments
held by the Federal Reserve System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated
clearinghouse operations; and interest on loans to depository institutions. After paying its expenses, the Federal Reserve turns the rest of its earnings
over to the U.S. Treasury.

8. Keynesian Economics
Article from 2012
• Apparently determined to prove once more that Keynesian economics doesn’t work, Obama’s
first major act in office was to pursue the unreconstructed Keynesianism of the nearly $1 trillion
so-called “stimulus,” which we now know didn’t stimulate anything except government spending,
deficits and debt. Obama promised us at the time that if his “stimulus” bill passed, the
unemployment rate would never exceed 8%, and would decline to 5.8% by May of this year. But
in reality it was 8.2% and rising in May.
• Last Friday’s jobs report for June indicated that the most commonly cited U3 unemployment rate
remains stuck at 8.2%. That makes 41 straight months of unemployment over 8%, which the Joint
Economic Committee of Congress confirms is the worst recovery from a recession since the Great
Depression almost 75 years ago. Indeed, the last time before Obama that unemployment was
even over 8% was December, 1983, when Reaganomics was bringing it down from the Keynesian
fiasco of the 1970s. It didn’t climb back above that level for 25 years, a generation, which is
another measure of the spectacular success of Reaganomics.
• http://thefederalist.com/2014/02/21/obamas-stimulus-five-years-of-keynesian-fairy-dust/ or
http://www.forbes.com/sites/peterferrara/2012/07/12/obamanomics-the-final-nail-in-the-
discredited-keynesian-coffin/#629fe53c2167

9. Job Creation/Obama
• Anyone claiming that America's economy is in decline is peddling fiction," Obama said, a direct swipe at Donald Trump and other Republicans in the
2016 presidential race.
• The president backed up his optimism with these statistics: "We're in the middle of the longest streak of private-sector job creation in history. More
than 14 million new jobs; the strongest two years of job growth since the 1990s; an unemployment rate cut in half."
• He's correct...if you look at the data in the most favorable way possible for him.
• The United States has only added about 9.3 million jobs during his term -- from the time Obama took office in January 2009 through December
2015.
• That's the most conventional way to assess a president's economic track record. Viewing it that way means Obama is pretty far behind the job
creation of Reagan and Clinton.
• So how does the White House come up with "more than 14 million new jobs" added?
• The Obama administration derives that figure by looking at how many private sector jobs (so excluding government jobs) have been added since the
lowest point during the Great Recession.
• In other words, instead of starting at January 2009, the White House starts the clock in February 2010. The Obama team argues that it took time for
the administration's policies to take effect to get the country out of the crisis.
• By that metric, Obama looks a lot better compared to recent presidents.
• Obama is still behind Clinton, but he's about on par with Reagan, although it's notable that the U.S. population is a lot bigger today than during the
1980s, so Reagan created more jobs on a proportional basis than Obama has.
Source: http://money.cnn.com/2016/01/13/news/economy/obama-jobs-state-of-the-union/

10. GDP Growth
Obama is the only U.S. chief executive in history
not to preside over even a single year with 3
percent GDP growth, as the Institute for Policy
Innovation’s Tom Giovanetti observes:
• ‘From 1790 to 2000, U.S. real GDP growth
averaged 3.79 percent,’ entrepreneur Louis
Woodhill explained at RealClearMarkets.
• He expects final figures to show that ‘2015 will
have been the tenth year in a row that real
GDP growth came in at under 3.0 percent.’
• During the Obama years, the number of
Americans below the poverty line is up 3.5
percent. Real median household income: down
2.3 percent.
• Americans on Food Stamps — 33 million then,
46 million now: up 39.5 percent. Americans
who own homes: down 5.6 percent. National
debt — $10.63 trillion then vs. $19.19 trillion
last Wednesday: up 80.5 percent.
Read more at:
http://www.nationalreview.com/article/43509
3/barack-obama-economy-jobs-ugly-truth

11. Housing Sector

12. USA Middle Class
• https://www.youtube.com/watch?v=xqLDHQ-iJU8

13. Environment / Obama – Energy
• Crude oil pipeline mileage rose 9.1 per cent last year alone to reach
66,649 miles, according to data from the Washington, D.C.-based
Association of Oil Pipe Lines (AOPL) set to be released soon.
Source: http://business.financialpost.com/news/energy/america-has-
built-the-equivalent-of-10-keystone-pipelines-since-2010-and-no-one-
said-anything

14. Environment – Clean Technology

15. Links/Sources:
• http://www.slideshare.net/paulyoungcga/is-global-economic-
stimulus-required-to-support-slow-world-economic-growth
• http://www.slideshare.net/paulyoungcga/why-is-the-world-heading-
for-slow-economic-growth
• Clinton Years - http://www.slideshare.net/paulyoungcga/bill-clinton-
president-of-usa-era