"The United States is better positioned for economic growth than any other" says Obama

[ProSense]

"The United States is better positioned for economic growth than any other" says Obama

by HoundDog



President Obama just released his 2014 Economic Report of the President of the United States, along with the Annual Report of the Council of Economic Advisers. We have much to be proud of just in time for the 2014 elections. Let's let our President speak for all of us in his own words:

To the Congress of the United States:
This year’s Economic Report of the President describes how after 5 years of grit and determined effort, the United States is better-positioned for the 21st century than any other nation on Earth. We’ve now experienced 4 straight years of economic growth with more than 8 million new private-sector jobs. Our unemployment rate is the lowest it’s been in more than 5 years. Our deficits have been cut by more than half. For the first time in nearly 20 years, we produce more oil at home than we buy from the rest of the world. The housing market is rebounding, manufacturers are adding jobs for the first time since the 1990s, and we sell more of what we make to the rest of the world than ever before. But in many ways, the trends that have threatened the middle class for decades have grown even starker. While those at the top are doing better than ever, average wages have barely budged. Inequality has deepened.

Too many Americans are working harder and harder just to get by, and too many still aren’t working at all. Our job is to reverse those trends. It is time to restore opportunity for all—the idea that no matter who you are or how you started out, with hard work and responsibility, you can get ahead. That’s why this must be a year of action. I’m eager to work with the Congress to speed up economic growth, strengthen the middle class, and build new ladders of opportunity into the middle class. But America does not stand still, and neither will I. Wherever and whenever I can take steps without legislation to expand opportunity for more American families, I will. Because opportunity is who we are. And the defining project of our generation is to restore that promise. Simply put, this opportunity agenda has four parts. Number one is more new jobs. Number two is training more Americans with the skills to fill those jobs. Number three is guaranteeing every child access to a world.

With the economy picking up speed, companies say they intend to hire more people this year. We should make that decision even easier for them by closing wasteful tax loopholes and lowering tax rates for businesses that create jobs here at home, and use the money we save in the process to create jobs rebuilding our roads, upgrading our ports, and unclogging our commutes. We should help America win the race for the next wave of high-tech manufacturing jobs by connecting businesses and universities in hubs for innovation. We should do more to boost exports and fund basic research. We should maintain our commitment to an all-of-the-above energy strategy that is creating jobs and leading to a safer planet. Finally, we should heed the call of business leaders, labor leaders, faith leaders, and law enforcement, and fix our broken immigration sys tem. Independent economists say this will grow our economy and shrink our deficits by almost $1 trillion in the next two decades. We should get it done this year.

This chart shows that United States and Germany are the only two countries shown whose GDP has returned to the levels prior to the financial crisis of 2008. The report gives credit for this to President Obama's 2009 American Recovery and Reinvestment Act, aka "the stimulus package," the auto industry rescue, and other stimulus programs promoted by Democrats. This act seems to have created or saved about 6 million jobs. Sabrina Siddiqui reports the Presidents report in The U.S. Recovered From The Recession Faster Than Every Country But Germany, which inspired my first title, however, upon closer inspection the sample for that study was limited to just the 12 major economies thrown into recession by the financial collapse, which leaves out China. So, I changed the title to be more clear.

Good job President Obama and Democrats who supported these controversial stimulus measures. Remember, Mitt Romney's plan was to let Detroit go bankrupt. While I don't usually like to be partisan at times of national celebration, there are times at which we should give credit where credit it due.

- more -

http://www.dailykos.com/story/2014/03/10/1283618/-The-United-State-recovered-faster-from-last-recession-than-any-country-in-the-world-except-Germany

[ucrdem]

1. Refreshing.

GD was kind of getting snowed under if you catch my drift. . . .

K/R

[Jamaal510]

5. +1

[okaawhatever]

2. The Republicans have been holding back a huge economic growth spurt. They want to make sure

when it happens they're at the helm. We will grow slowly in the next few years regardless of Congress, but we could grow faster and reduce the deficit faster if we had help from Congress.

[Fumesucker]

3. "For the one percent." The President went on to add

[ProSense]

4. Lot of factors, but

"'For the one percent.' The President went on to add"

...he's working to change that.

Krugman: Obama and the One Percent
http://www.democraticunderground.com/10024391415

BOOM: Obama signs order to raise minimum wage for federal contractors...disabled workers included!
http://www.democraticunderground.com/10024489919

Obamacare boosting household income and spending
http://www.democraticunderground.com/10024606074

[ProSense]

6. Kick! n/t

[ProSense]

7. Kick! n/t