Letter: Obama’s leadership helping the economy - East Valley Tribune: Opinion

Letter: Obama’s leadership helping the economy

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Posted: Wednesday, September 19, 2012 8:37 am | Updated: 3:55 pm, Thu Sep 27, 2012.

Our economy is recovering under Obama’s leadership despite the worst worldwide recession in our lifetime.

The Dow Industrial was at 6646.94 in 2009 when the stimulus was passed. Today the Dow is at 13306.

Unemployment was at 9.9 percent in 2009 today it is at 8.1 percent. The Euro Zone on the other hand was at 9.8 percent in

2009 and now is at 11.3 percent.

The inflation rate in the US was 2.7 percent in 2009 and now is 1.4 percent a 48 percent reduction in our rate of inflation. The Euro Zone was 0.9 percent in 2009 and is now 2.4 percent. Germany was 0.8 percent in 2009 and is now at 2 percent.

All major economists recommended deficit spending to get us out of the recession, some criticized Obama for not spending enough.

Finally, the downgrading of our country’s bond rating was not because of Obama. In a written report the rating agency stated that it was primarily because of the GOP’s failure to compromise on revenue increases.

Despite the fact that we were at the epicenter of the recession we are doing better than most other countries. We definitely should not return to the policies that created the mess Obama inherited.

Robert Ricker

Melbourne, Fla.

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