Happy Father’s Day also, to the men of TOD – be you biological, adopted, step, father figure. Thank you for having our backs, thank you for the smiles, thank you for the encouragement, thank you for your bad dad jokes, thank you for the embarrassment, thank you for the hi-5’s, thank you for letting us know that as long as we give it our best shot, we are more than good enough; thank you for the foundation that allows us to lift our heads high as we venture out into the world. Thanks for being great dads!
A president is often referred to as the father of the country. He nurtures it, guides it in the right direction, lays down policies that will not only help the country in the interim, but also ten, twenty, thirty years down the line. When his term is done, (the formative years of a child’s life) the country has either regressed or grown in leaps and bounds. In that vein, let’s take a look at how far America has progressed under Barack Obama, the 44th President of the United States.
Passed the Stimulus: The Bush-led Great Recession was costing the economy nearly 800,000 jobs per month by the time President Obama took office. Signed $787 billion American Recovery and Reinvestment Act in 2009 to spur economic growth amid greatest recession since the Great Depression. Weeks after stimulus went into effect, unemployment claims began to subside. Twelve months later, the private sector began producing more jobs than it was losing. The economy has now created over 6 million jobs.
He oversaw the completion of the massive TARP financial and banking rescue plan and also leaned on the banks and others, and recovered virtually all of the bail-out money.
Oversaw the creation of more jobs in 2010 alone than Bush did in eight years.
Signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) to re-regulate the financial sector after its practices caused the Great Recession. The new law tightens capital requirements on large banks and other financial institutions, requires derivatives to be sold on clearinghouses and exchanges, mandates that large banks provide “living wills” to avoid chaotic bankruptcies, limits their ability to trade with customers’ money for their own profit, and creates the Consumer Financial Protection Bureau (now headed by Richard Cordray) to crack down on abusive lending products and companies.
He created the Making Home Affordable home refinancing plan.
Along with Democrats, and almost no Republicans, implemented an auto industry rescue plan that immediately saved as many as 1 million jobs. This resulted in GM returning to its place as the top car company in the world.
Signed the Democratic-sponsored Fraud Enforcement and Recovery Act giving the federal government more tools to investigate and prosecute fraud in every corner of the financial system, and create a bipartisan Financial Crisis Inquiry Commission to investigate the financial fraud that led to the economic meltdown.
Signed the Democratic-sponsored Credit Card Accountability, Responsibility and Disclosure (CARD) Act, which was designed to to protect consumers from unfair and deceptive credit card practices.
Through the Worker, Homeownership, and Business Assistance Act of 2009, he and Congressional Democrats provided tax credits to first-time home buyers, which helped the U.S. housing market recovery.
Initiated a $15 billion plan designed to encourage increased lending to small businesses.
Played a lead role in getting the G-20 Summit to commit to a $1.1 trillion deal to combat the global financial crisis.
Through the American Recovery and Reinvestment Act, saved at least 300,000 education jobs, such as teachers, principals, librarians, and counselors that would have otherwise been lost.
Signed the Democratic-sponsored Lilly Ledbetter Fair Pay Act, which restored basic protections against pay discrimination for women and other workers; giving women who are paid less than men for the same work the right to sue their employers after they find out about the discrimination, even if that discrimination happened years ago. (The first bill he signed into law)