USA HISTORY

Detailed explanation-1: -President Obama’s first inauguration was held during the depths of the Great Recession. The situation was dire; the economy had lost nearly 3.6 million jobs in 2008 and was shedding jobs at a nearly 800, 000 per month rate when he took office.

Detailed explanation-2: -High unemployment rate, lagging job creation, unfavorable balance of trade (importing more than exporting), unfavorable trade practices by economic competitors, slow economic growth, failure to significantly reduce spending; Stock Market, gas prices, home prices, and overall consumer debt moved steadily upward.

Detailed explanation-3: -He took steps to create jobs, rescue the auto industry, and rebuild the economy on a new foundation for growth and prosperity.

Detailed explanation-4: -Obama signed many landmark bills into law during his first two years in office. The main reforms include: the Affordable Care Act, sometimes referred to as “the ACA” or “Obamacare", the Dodd–Frank Wall Street Reform and Consumer Protection Act, and the Don’t Ask, Don’t Tell Repeal Act of 2010.