Forbes: With the stock market hitting new highs, some people have already forgotten about the Great Recession. Recall 2009. Things looked pretty bleak economically. But the outlook has changed dramatically in just 4 years…. the President deserves attention for how well this economy has done during his leadership.

The auto rescue plan has worked. American car manufacturers are still dominant and employing millions directly and in supplier companies. Wall Street reform has been painful but it has re-instated faith amongst investors….

…. The deficit is now only 4% of the GDP, down from over 10% at the end of Bush’s administration …. major strides in health care reform – something no other President has accomplished – has given American’s more faith in their future, and an increased willingness to invest.

… By all measures, President Obama has outperformed every modern President.

Q- Bob, what policies do you think were most important toward achieving today’s new highs?

BBBB – Firstly, let’s review just how bad things were in 2009. In 2000 America was completing the longest bull market in history. But by the end of President Bush’s tenure the country had witnessed 2 stock market crashes, and the DJIA had fallen 58%. This was the second worst market decline in history (exceeded only by the Great Depression,) and hence the term “Great Recession” was born.

In 2000, at the end of Clinton’s administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.

Significantly, in 2000 America had a budget surplus. By 2009 surpluses were long gone and the country was racking up historic deficits as taxes were cut while simultaneously outlays for defense skyrocketed to cover costs of wars in Iraq and Afghanistan. Additionally, banks were on the edge of failing due to unregulated real estate speculation and massive derivative losses.

Q- Bob, what policies do you think were most important toward achieving today’s new highs?

BBBB – Firstly, let’s review just how bad things were in 2009. In 2000 America was completing the longest bull market in history. But by the end of President Bush’s tenure the country had witnessed 2 stock market crashes, and the DJIA had fallen 58%. This was the second worst market decline in history (exceeded only by the Great Depression,) and hence the term “Great Recession” was born.


http://www.forbes.com/sites/adamhartung/2013/05/16/economically-could-obama-be-americas-best-president/