President Obamas Plan To Bankrupt the USA

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It mandated that insurers cover everyone, even those with pre-existing conditions. The ACA legislation made changes to Medicare. One change was more coverage of prescription drug costs. It also began paying hospitals for quality of care, not for each test or procedure. Trump's health care plans did not try to reform these specific aspects of the ACA. In , anyone who didn't obtain health insurance also paid a tax.

The cost of Medicare and Medicaid threatened to eat the budget alive. Many policies at the time had annual and lifetime limits that were easily exceeded by chronic illness. It slows the rise of national health care costs. They can treat their illnesses before they require expensive emergency room care. The Obama administration negotiated the TPP.

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Trump has not said whether he would continue negotiations on the TTIP. Trump advocates trade protectionism. In , he launched a global trade war.

2020 Elections

The end result of the trade war is still unclear, however, many economists predict that a prolonged trade dispute will end up hurting American businesses and consumers, and could even lead to an economic recession. Trump claims that China artificially undervalues its currency, the yuan, by percent. If it didn't reduce its trade surplus with the United States, he would impose duties on its exports. As president, he imposed tariffs without officially naming China a manipulator. It made another financial crisis less likely.

Trump would like to repeal Dodd-Frank completely. They no longer have to hold as much in assets to protect against a cash crunch. They also may not be subject to the Fed's " stress tests. In addition, these smaller banks no longer have to comply with the Volcker Rule. Bush's last budget to create the largest deficit in U. As the economy improved, each year's deficit became smaller. Each year's budget deficit adds to the debt. But an economist at the St. Every president uses this sleight of hand to make deficits look smaller.

As a result, looking at debt by president provides a better gauge of government spending. Trump has betrayed his campaign promise to eliminate the debt. That's as much as Obama did while he was fighting the worst recession since the Great Depression. Trump's plan to reduce the debt relies on increasing economic growth to 6 percent. Like most Republicans, he used tax cuts to spur that level of growth.

In fact, Trump's tax cuts for the rich have not seemed to trickle down to ordinary Americans, and the debt load of the government is projected to balloon under Donald Trump. These include cutting foreign aid, increase defense spending to boost growth and cut entitlement programs. Research shows these aren't the most effective ways to cut spending or boost the economy.

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At least 55 of the participating countries must now ratify the agreement before it can go into effect. These two countries emit the most greenhouse gases. He enacted the Clean Power Plan in It does this by setting carbon reduction goals for the nation's power plants. To comply, power plants will create 30 percent more renewable energy by They'd ship high-grade Canadian crude oil to refineries in the Gulf region. Trump pledged to revive the coal industry while remaining committed to clean coal technology.

He rescinded orders to address the link between climate change and defense. He initiated a review of Obama's Clean Power Plan because of its regulations on the coal industry. His administration is expected to allow states to set their own standards on coal emissions. The Balance uses cookies to provide you with a great user experience. By using The Balance, you accept our.

US Economy Fiscal Policy. These provisions were tantamount to a generous handout to the pharmaceutical industry, which had lobbied heavily for the bill. Not surprisingly, it also did precisely nothing about sky-high drug costs. This is a decidedly mixed legacy. The gains of the ACA are evident: indeed, for some of those who gained coverage, it was lifesaving.

The National Debt Explained

When that happens, we should dub the resultant fiasco GOP-Care, and blast it for all its injustices. For this reason, the time to push for universal single-payer health care is right now. Some of his cornerstone achievements reflect a liberal multicultural agenda, emphasizing queer and trans inclusion in institutions which may not be the best vehicles for liberation.

During his first two years in office, when congressional cooperation was possible, the president supported and signed the Matthew Shepard and James Byrd Jr. The former added sexual orientation and gender identity to existing hate crimes law, imposing additional criminal penalties in crimes motivated by anti-LGBT animus; the latter allowed gays and lesbians to serve openly in the military. While many LGBT advocates welcomed these developments for their expressive value — finally there were LGBT protections in federal law — critics, myself included , scolded the administration for promoting LGBT inclusion without accounting for the effects that longer prison sentences and easier militarization would have on other marginalized communities.

Policies of uplift must not be lost in pursuit of inclusion. Behind the scenes, President Obama directed the vast armature of the administrative state to support LGBT inclusion in unprecedented ways, including a major effort to provide legal protections for transgender Americans at work and in schools. Through executive orders and administrative guidance, President Obama expanded the definition of sex-based discrimination to include sexual orientation and gender identity at the Department of Justice, Department of Education, Department of Labor, Housing and Urban Development, and US Occupational Health and Safety Administration.

This type of regulation made it easier for transgender litigants to vindicate their rights, including trans students seeking access to gender-appropriate facilities and trans people seeking insurance coverage for gender affirming care. The Equal Employment Opportunity Commission was particularly aggressive in pursuit of LGBT rights, making it a stated priority in its —16 Strategic Enforcement Plan, and issuing landmark decisions for queer and trans protections in the workplace.

But because it was conducted through executive action, this progress will be particularly vulnerable come January Of course legal protections for vulnerable LGBT people should be pursued in any way possible, but President Obama did not fight hard enough to enshrine them in federal statutes. Despite this failing, there has been a bright spot in these closing hours of the Obama administration.

He granted relief for immigrant children through Deferred Action for Childhood Arrivals DACA , one of the most significant federal actions for immigrant communities in many years.

President Obama on 8 Years of Economic Progress

That same day, however, he also announced that the Secure Communities program to be replaced by the Priority Enforcement Program PEP , and that the priorities for deportation were shifting, making people who arrived or were ordered deported after January priorities for deportation. Similarly, although the shift in priorities meant that those who arrived to the country before were not a priority for deportation, that shift also led to the immigration raids on women and children at the start of Even under the reforms in the Department of Justice, immigrants have been sold short.

One moment where this contradiction was highlighted was in October , when the president announced the release of six thousand federal prisoners in an effort to reduce prison overcrowding and provide federal relief to drug offenders who have received harsh sentences, and two thousand of those people were deported instead of being reunited with their communities.

There are many immigrants who are thankful for opportunities that he has created. But on immigration, President Obama will be remembered as deporter-in-chief. Today, he hands over a massive, brutal immigration enforcement machinery to a man who promises to challenge Obama for this title. In the face of entrenched corporate power, President Obama promoted symbolic equality over material gains for the working class. But aspirations toward a New Deal—type stimulus faded fast. Congress then proved useless in failing to push through even modest investments in infrastructure, restoring funding for basic welfare programs, or making health-care reform truly equitable for working-class people instead of an insurance industry racket.

The squelching of the Employee Free Choice Act , which would have eased the unionization process, further constrained efforts to build workplace democracy. Obama never lifted a finger for the act in the early days of his presidency, when it was still politically possible. First, the collapse of immigration reform efforts, which only further entrenched a permanent underclass of undocumented workers. Additionally, the perpetuation of the warped neoliberal trade policy that has devastated working-class households who previously enjoyed a modicum of upward mobility. Through his executive power, he expanded labor protections for tens of thousands of federal contractors, including wage hikes, paid sick leave, and fair-pay rules.

The Labor Department extended minimum-wage protections to home-care workers under new administrative guidelines. Rulings at the National Labor Relations Board boosted collective-bargaining rights for contractors and graduate student workers , and helped advance organizing efforts for fast-food franchise workers. But many major changes in labor policy realized under Obama happened on the state and local level, like the proliferation of paid sick leave laws in states and cities in the past few years.

That Obama will be succeeded by such an outrageously regressive, racist regime reflects the structural inequalities that no president could begin to dismantle, since they are tied to a neoliberal global economic structure. But in many ways Obama failed culturally to grapple with those injustices, retreating instead into the safer sphere of promoting symbolic equality without material equity. Fighting those inequalities requires not technocratic tinkering in Washington but enlisting local communities through organizing in workplaces, classrooms, and communities. Obama built his career opposing the Patriot Act and Bush-era secrecy.

No more national security letters to spy on citizens who are not suspected of a crime. No more ignoring the law when it is convenient. It extended controversial Patriot Act provisions year after year. All of this happened under a liberal former constitutional law professor. The question must be asked: What will follow under Trump?

“U.S. Declares Bankruptcy!”

On climate change, Obama showed the best of what environmental advocates can expect from a Democratic administration. They were ignored. In the United States, hopes for climate policy imploded a year later. The Waxman-Markey bill outlined a cap-and-trade program to limit emissions in the United States, reliant on the creation of a complex and loophole-ridden carbon market.