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Most economists say the economy was in very bad shape when President Obama took office: the United States was in the middle of a severe recession. Many sources, including some Republicans who had originally supported President Bush, came to believe the policies of the Bush administration were not fiscally conservative, and that his actions (two wars that were not paid for, tax cuts that favored the wealthy, a prescription drug bill that also was not paid for) contributed to the bad economy; however, there are some who say it was not Bush's fault, but rather a combination of factors including downturns in the world economy. But in either case, President Obama inherited a very bad economy.
Wiki User
∙ 11y ago
The economy was in a severe recession before Obama took office in 2009. The financial crisis of 2008 had caused a collapse in the housing market, a sharp increase in unemployment, and a decline in consumer spending. The Stock Market had also plummeted, and many businesses were struggling or closing down.
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How obama took office?
he took a hundred dollars from office sucker
What was the economy like when Obama took office vs when he left office?
When Barack Obama became president, he inherited a terrible economy from President Bush. Most analysts said the US was heading for a recession, perhaps even a depression. Millions of jobs had already been lost: in fact, in just the month he took office, more than 800,000 jobs were lost. While not everyone will agree with how Mr. Obama handled the economy, the fact remains that his policies helped bring the country out of that economic crisis. The recovery was not felt in all parts of the US equally; but gradually under Mr. Obama's leadership, the economy as a whole began to turn around. By the time he left office, Barack Obama had presided over 75 consecutive months of job growth. When he took office, the unemployment rate was as high as 7.8%, and when he left, it was down to 4.7%.
How old was Obama when he took office?
47
How old was Barack Obama when he took office?
47
Where did Obama stay before he took office?
President-Elect Obama and his family stayed in the presidential suite at the Hay-Adams hotel, across the street from the White House.
Was Churchill bust in White House returned to British?
Yes it was. It was scheduled to be returned before Obama took office, but it fell to Obama to see that it was carried out. It was returned in Feb. 2009.
What was his occupation before President Obama took office as President?
He was the Illinois state senator. Now, he's the president of the United States.
When did Obama come to live in washington?
President Obama took office on January 20, 2009.
When did Obama took office for his 2nd term?
January 21,2013
What was the price for a gallon of gas when Obama took office?
$1.84
What was is the price of crude oil when obama took office?
1.89
What year did Obama elected?
Mr. Obama was elected in November 2008 and took office in January 2009.
