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Obama presents his first weekly address as President of the United States on January 24, 2009, discussing the American Recovery and Reinvestment Act of 2009 Job Growth by U.S. president, measured as cumulative percentage change from month after inauguration to end of term. 2016 was the first year U.S. real (inflation-adjusted) median household income surpassed 1999 levels.
President Barack Obama makes a statement in the Brady Press Briefing Room at the White House announcing a deal that resolved the US debt ceiling crisis. July 31, 2011. On July 31, 2011, President Obama announced that the leaders of both parties in both chambers had reached an agreement that would reduce the deficit and avoid default. [101]
The unemployment rate has risen on average under Republican presidents, while it has fallen on average under Democratic presidents. Budget deficits relative to the size of the economy were lower on average for Democratic presidents. [1] [2] Ten of the eleven U.S. recessions between 1953 and 2020 began under Republican presidents. [3]
This pattern of increased deficits has continued under Biden. As of September 2024, the Biden administration had approved more than $5 trillion in new 10-year costs since taking office.
Fact check: Biden said the U.S. trade deficit with China is at its lowest since 2010 ... far more than in any year during the Obama administration. Fact check: Trump says Biden is allowing ...
The federal government ran deficits under Presidents George W. Bush and Barack Obama, and during Trump's first term, and yet inflation remained under control until 2021.
The Budget Control Act of 2011 (Pub. L. 112–25 (text), S. 365, 125 Stat. 240, enacted August 2, 2011) is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011.
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