Despite the conservative noise making machine and the tea parties, America has made progress in the first year of the Obama administration. Consumer confidence is up since taking office and record job losses under Bush's administration has been reversed and on a steady basis. The unemployment rate which started to go up each month before Obama took office has now been stabilized. Still too high but the more the job market improves the more unemployment will go down.
Major parts of the economy are growing again and the GDP for the fourth quarter of 2009 was up over 5% annual rate. Manufacturing orders are steady and up for the past several months. The stock market (DJIA) average has gained over 4000 points and portfolio's are up. Financial markets have been stabilized to a greater extent and lending has increased. Retail sales have been up so consumer spending has increased, not yet to the extent needed to propel the economy but enough for a turn around and heading in the right direction.
According to the last report only half of the $787 stimulus has been spent. There are many area's of the economy where states are putting in their applications to receive and spend the balance of the stimulus. The Regional Transit Authority in New Orleans was just awarded $45 million in funding for a new streetcar line in the city. As states line up their applications and the awards are granted more people will find badly needed jobs. There is much more to be done and the administration is working on that. Mean while the economy has been improving.
Progress has been made in Afghanistan and a number of high ranking Taliban leaders have been eliminated or captured according to reports. There were no major terror attacks on U.S. soil during Obama's first year in office and the country did much better in that regard than the previous administration did in its first year in office. The country is still on track with our withdrawal of troops from Iraq and should stay on track.
There is still much to be done and the President needs to stay focused. He must not let the negative noise machine dictate the agenda and he and the democrats in congress have to finish the job on health care reform and other important legislation that will help produce a sustained economy and sustain job creation. The reason that is so important is because the republican party still has no record of creating a sustained economy or job creation.
