Barack Obama's Presidential Years with Figures

• 01.19.2017, 11:55
•  America

The 44th US President Barack Obama assumed his presidency on January 20, 2009 . In November 2016 presidential elections were held in the United States, which, in fact, ended the period of the Obama administration. What were the years of the Obama administration like for the US economy, let’s try to figure out with the statistics of key indicators.

Gross domestic product: US GDP per capita registered a growth trend during the Obama presidency. Thus, in 2009 the index amounted to 47 575.6 million dollars. In 2010, the index reached the threshold of $ 4834.1, in 2011- 49.725, in 2012- 51.384, in 2013- 52.608, in 2014 - 54.375, and in 2015 the GDP reached to $ 55.868.

For comparison, it should be noted that in the period of 2006-2008, the GDP per capita fluctuated between 49.000 dollars. Since 2009 (that year there was registered a decrease to 47,000) a growth was recorded.

Gross domestic product in the period of 2009-2016 showed the following statistics:

 

2009 - 14418.74 billion dollars,

2010 - 14964.37 billion dollars,

2011- 15517.93 billion dollars,

2012- 16.155.26 billion dollars,

2013 - 16691.52 billion dollars,

2014 - 17393.1 billion dollars,

2015 - 18036.65 billion dollars [1]

 

Economic growth

Unlike Gross Domestic Product data, the indicators of economic growth calculated with GDP only (calculation of factors such as inflation) did not have a stable growth trend. It should be noted that in 2009 the economic growth rate in the United States registered a record low 4.1 percent growth for the period of 1948-2016 [2]. Since 2009 the index was positive (1.6% in 2011, 2.2% in 2012, 1.5% in 2013, 2.4% in 2014, 2.4% in 2015).

Trade

In contrast to 2008, the exports from the United States showed a sharp decline in 2009. (In 2008 the threshold was 160000 million while in 2009 it was approximately 120000 million [3]), and then, the export began to increase (2011-2016 respectively: 6.9%,  3.4%, 2.8%, 3.4%, 1.1%).

In 2009, the import also registered a decline (from 240000 reaching to 120000), and then a rate of non-proportional growth was recorded (2011: 5.5% 2012: 2.2%, 2013: 1.1%, 2014: 3.8%, 2015: 4.9 %).

State debt

US government debt under the Obama administration registered a significant growth.

Year	Amount, US dollar
2008	10,024,724,896,912.49
2009	11,909,829,003,511.75
2010	13,561,623,030,891.79
2011	14,790,340,328,557.15
2012	16,066,241,407,385.89
2013	16,738,183,526,697.32
2014	17,824,071,380,733.82
2015	18,150,617,666,484.33

 

It is noteworthy that during Obama administration along with the state debt the public debt also grew (98.3% in 2011, 102% in 2012, 104% in 2013, 105% in 2014, 106% in 2015).

 

Unemployment rate

From 2008-2009 the unemployment rate in the United States ranged from 4.5-5%. From 2009-2010 it registered the highest rate, 10% in the last ten years. Since 2011, the index gradually declined (8.9% in 2011, 8.1% in 2012, 7.4% in 2013, 6.2% in 2014, 5.3% in 2015)

Positive trends were demonstrated in inflation - reaching -0.9% in 2015 from the 3.9% of 2009.

The average wage per hour has also increased. From $ 18 / per hour figure of 2008 it reached to $ 22 / per hour in 2016. [5]

Most statistics also showed decline in military expenditures. From 2008-2009 US military spending was around 621131 million. Only in 2010, the military budget grew reaching 698180 million dollars, after which there was a decline (in 2012 - 684780 million, in 2013 - 640221 million), reaching $ 598.5 billion in 2015. 

[1] http://www.tradingeconomics.com/united-states/gdp-per-capita,  http://www.tradingeconomics.com/united-states/gdp

[2] http://www.tradingeconomics.com/united-states/gdp-growth-annual

[3] http://www.tradingeconomics.com/united-states/exports

[4] https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

[5] http://www.tradingeconomics.com/united-states/wages