Five Economic Lessons From Obama's Presidency

I remember vividly the economic and financial mess President Barack Obama inherited when he was sworn in as the 44th U.S. president eight years ago. Growth and trade were imploding, millions of Americans were losing their jobs, and the stock market was in free fall. This frightful combination was also playing out in many other countries, fueling a sense of deep economic and financial insecurity that had not been felt for more than 70 years.

As his time in office comes to an end, Obama presides over an economy that has done more than help the world avert what would have been a very painful multiyear global depression, both for current and future generations. The U.S. has been a star outperformer in the advanced world, delivering record job creation, boasting an unemployment rate that is the envy of many other countries, and remaining the best facilitator of innovation and entrepreneurship. Meanwhile, all major U.S. stock indexes are trading close to record highs, having delivered enormous returns to investors during the president’s tenure.