Obama's Economics Are Working

Ignore the political crowd, the president's been great for business
By Kevin Spak,  Newser Staff
Posted Mar 10, 2010 1:11 PM CST
In this Monday, Sept. 14, 2009, file photo, a television screen on the floor the New York Stock Exchange shows President Barack Obama as he speaks at Federal Hall.   (AP Photo/Richard Drew, file)

(Newser) – President Obama doesn't get much political credit for it, but the numbers show his economic policies have been a resounding success. Since he took office, the S&P 500 is up 41%, credit spreads have narrowed, commodity prices have surged, and housing prices have stabilized, writes Mike Dorning of Bloomberg. GDP grew 5.9% in the fourth quarter, far more than analysts predicted, and job losses have slowed.

“We’ve had a phenomenal run in asset classes across the board,” says one economist. “If he was a Republican, we would hear a never-ending drumbeat of news stories about markets voting in favor of the president.” So far Obama’s performance hasn’t helped him politically, but economists think that’ll change once prospering companies start hiring. “Households will eventually benefit,” says one economist, “but they’ll have to see it before they believe it.”

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