Did Obama Turn Around the Economy?
Jeff Frankel’s Weblog
February 20, 2012
Commentary by: Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth
Topic: U.S. economy
“With November’s election fast approaching, the Republican candidates seeking to challenge President Barack Obama claim that his policies have done nothing to support recovery from the recession that he inherited in January 2009. If anything, they claim, his fiscal stimulus made matters worse. And, despite recent improvement, the level of unemployment indeed remains far too high.
Obama’s Democratic defenders counter that his policies staved off a second Great Depression, and that the US economy has been steadily working its way out of a deep hole ever since. Middle-ground observers, meanwhile, typically conclude that one cannot settle the debate, because one cannot know what would have happened otherwise.”