The Barack Obama presidency, despite eight years of irrational and vicious clamor from his detractors, will likely get good marks in the pages of history.
First of all, he inherited an economy on the brink of catastrophe caused mainly by reckless, greedy investors (let’s use the proper name – “crooks”) on Wall Street. In his economic-recovery plan, Obama insisted on bailing out the banks, despite howls of what seemed like justified outrage. But that, along with other emergency measures, worked, and the banks paid back the money. He also saved America’s car industry from virtual collapse. In what was the worst recession since the 1930s, the Obama administration saved not only America’s economy but indirectly also the world economy. Yes, the road to recovery was slow, but in Obama’s eight years in office, 11.3 million jobs were created. The unemployment rate fell from close to 10 percent to below 5 percent. Too bad, though, the crooks didn’t go to prison where they belong.