In Honolulu Hawaii, the retired president, Barrack Hussein Obama was born of Stanley Ann Dunham from Wichita, Kansas and Barrack Obama Sir from Alego, Kenya in 4th August 1961. Barack returned to stay with his grandparents in Hawaii when his father went to work as an economist, and his mother remarried in 1965 when Barrack Obama was four years old. Obamas father succeeded to go back to the USA alongside with Obamas half-sister. Barrack Obama was able to join Punahou School which was among the best academy schools in Hawaii and graduated in 1979.
During the stay with his grandparents, Barrack Obama found it a bit hard to harmonize the social perceptions of the fact that he has half black and half white. In his book, Obama describes that during his teenage life, he abused marijuana, cocaine, and alcohol. His mother worked as an assistant director of the United States government subsidized Indonesia-America Friendship Institute. In 1981 Barrack Obama was able to deliver his first public speech concerning Occidentals divestment from South Africa. Barrack Obama joined Columbia University and Harvard Law School. Although he realized that he could not be able to avoid the New Yorks racial tension, he became the first African-American editor of HLR (Harvard Law Review). However, he stepped down from his previous position so as to practice civil rights law in Chicago where he fought for the rights of the oppressed minority group regarding housing and employment. In Chicago, Barrack Obama served as lecturer and community organizer in different periods. He developed different communities and churches especially the Catholic parishes. Additionally, Barrack Obama assumed the role of a consultant and instructor for Gamaliel Foundation.
Barrack Obama began to teach at the University of Chicago Law School and eventually got married to Michelle Robinson who is now popularly known Michelle Obama who was also an attorney. The couple now has two daughters, Malia and Sasha. In 1995, Obama issued his autobiography, Dreams from My Father which is a story that addresses race and inheritance which has been translated into twenty-five languages comprising Swedish and Chinese. Barrack Obamas advocacy made him vie for the position of Illinois senator in 1996 where he collaborated with both the democrats and the republicans in legislations regarding early childhood education, ethics and healthcare just to mention a few. During his term as a senator, Barrack Obama introduced income tax credit that is owned by the state. The income tax credit was meant to improve and make it easier for the working poor people in the United States of America.
In early 2001 Obama was already President George Bush antagonist over the issue of the use of force in Iraq and after contesting against a business tycoon, Blair Hull in 2004 he was able to secure the senatorial position with the Democratic primary. In the general election, he was to compete with Jack Ryan from the Republican but however withdrew after the closure of the party. In 2006, Barrack Hussein Obama issued his second book, The Audacity of Hope which expresses ideas of reclaiming the American dream. The book became both Amazon and New York Times best seller. Though not caught by surprise, Barrack Obamas announcement and expressions of his interest to run for the presidential nomination in 2008 with Democratic made the headlines back in 2007. Barack Obama contested for the hot seat against Hillary Clinton, and on 4th November 2008, he was able to outdo his rival John McCain and therefore became the United States of America 44th president.
President Barrack Obama Economic Policies
In the long list of President Barack Obamas achievements lays his ability to regulate the big banks. Through the Dodd-Frank Wall Street Reform Act, President Barrack Obama controlled eight key aspects that contributed to the economic crisis. For example, the Consumer Financial Protection Agency lowered negative applications of mortgage and credit cards.
The president publicized a provisional deal with the Republicans to continue with the Bush-era tax cuts across all levels of income for twenty-four months. Although there were some elements of the tax system that Barrack Obama did not agree with, he still chose to support them so as to avoid tax rise to the middle-income earners. The tax cut was meant to lower the social security payroll tax by 2%. For example, those households that earn $50 000 per year would save up to $1000 per year.
In 2015 President Barack Obama was able to initiate and secure the worlds biggest trade agreement; the Trans-Pacific Partnership would get rid of the tariffs between the USA and eleven other countries. The agreement would enhance net exports and economic growth and in the long run create more employment.
The then president, Barrack Obama enacted the 2009 American Recovery and Reinvestment Act. The act was formed to pull out the United States of America from the great recession. The result of the economic policy was successful because despite the fact that President Barack Obama inherited a global economic crisis in 2008 from George Bush he was certainly able to end the economic recession. He staked $ 787 billion by injecting it into the economy. The package led to decreased taxation and increased unemployment benefits. The economic recession came to a halt when the GDP growth rate became positive in July 2009. Additionally, President Obama rescued the Auto industry in 2009, and the process saved three million jobs.
It was not until the recovery acts initiated and propelled by the leadership of President Barrack Obama that the rate of unemployment reduced. When President Barrack Obama took over power from George Bush, the real GDP of the United States of America was 14.58 trillion as at 31st December 2008 and by 31st December the year 2016, the real GDP had risen to 16. 81trillion. The overall increase in government expenditure for the United States of America which is a part of the gross domestic product GDP shows that the country did develop under the leadership of President Barack Hussein Obama.
On the 21st of January 2013 is the time President Barack Obama started his second term as a president and it was on this day that he spoke on issues concerning the change in climate, equality in marriage as well as health care. Additionally, President Barrack Obama emphasized on the problem of gun control and backed up policies that addressed universal background checks during purchases and ownership of guns.
Did the Policy work?
Obama administration policy focused on trade partnerships between different countries which in effect resulted in an increase in global trade. The countrys partnership with other countries resulted in an increase in commercial activities, manufacturing, and economic ties that led to a surge in many business opportunities. Many investors from abroad were keen in increasing their investment in the country, and as such, Obama was quick in providing a good environment for doing business. The availability of funds which were meant to lessen the costs of doing business resulted in the growth of different companies in the country. Therefore, Obama was successful in implementing his economic policies.
The Recovery Act enacted in the year 2009 proved successful over the short-term in that the funds that were made available for the companies that were affected by the recession reached those firms in good time. With that, by the year 2011, the economy was performing much better since the companies that were affected by the recession began making profits from their business. The Act was also important in that it provided companies with the assurance of a good economy ahead since the funds were meant to help companies whenever there was any recession in future.
The economy under Obamas administration performed much better since there were increased employment opportunities throughout the period. The increased economy was mainly attributed to the good performance of the GDP which increased gradually over his two terms. Additionally, President Obama was keen in reducing government expenditure since he believed that a high recurrent expenditure detrimental to the economic performance.
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