It’s hard to argue with the fact that President Barack Obama has been good for the economy.
But it is a sure bet that some people will confidently express great doubts. The stock market has reached new highs with the Dow topping 17,000. It was under 8,000 when Obama took office in 2009.
The unemployment rate under Obama has gone from a high of 10 percent in October 2009 to 6.1 percent in June. The president now just has to do something about the long-term unemployed people who have stopped looking for work.
The latest data also shows that the U.S. deficit is going in the right direction.
The Wall Street Journal reports that the federal government's deficit from October through June was $366 billion, down 28 percent from the same period in 2013, the Treasury Department said Friday. Revenues exceeded spending in June resulting in a $71 billion surplus.
The deficit is headed toward a low not seen since 2008, which was when George W. Bush was president.