Late 2008 – early 2009: The Great Recession begins. US economy stalls. Business and industry shed 770,000 jobs per month from US market. Unemployment rate goes from 5.6% in summer of ’08 to over 10% by spring of 2009.
November 2013: US economy creating 200,000 jobs per month. Unemployment rate now at 7.0%, back where it was before president Obama took over from Bush. Over 5 million jobs created in five years, vs 1 million created by Bush in 8 years (plus 2 million in armed forces).
November 2008: The Dow drops 6,000 points at the end of the Bush administration.
December 2013: The Dow closes above 16,000 for the first time in history.
November 2008: Osama bin Laden still on the loose, still threatening the region. US spending $8 billion per month in Iraq with no end in sight.
December 2013: Osama bin Laden is dead. No major US military presence remains in Iraq. Al Qaeda in Afghanistan decimated. US military operations in Afghanistan being significantly drawn down by April 2014.
September 2008: GM and Chrysler on verge of collapse, leaving the entire US auto industry on the brink. President Obama uses TARP funds to rescue them against staunch GOP opposition. The auto industry survives, saving 1 million American jobs in the rust belt and an estimated 2 million additional jobs throughout the country. The bailout was a resounding success.
December 2013: US government sells off the last of its GM stock. The 100-year-old backbone of the American manufacturing network has been preserved.
Hope and Change? You’re goddamn right.