The Problem for Obama is That America Isn’t Working

President Obama’s stewardship of the world’s largest economy has been lacking, argues Matthew Lynn

by Matthew Lynn

Falling levels of unemployment. A return to growth. House prices recovering. And, perhaps most significantly of all, a central bank that has felt so convinced the economy is on the mend that it has actually raised interest rates once in the past year and may do so again before Christmas comes around. The American President Barack Obama had some fair points to make as he defended his economic record over the last eight years.

As he prepares to start writing his memoirs, Obama has started what is usually the final lap of any term in the White House – securing his legacy, and doing what he can to make sure his own party, no matter how much he may dislike the nominee, keeps the keys to the Oval Office.

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