Political positions of Barack Obama

President Obama was first inaugurated in January 2009, in the depths of the

Next came the federal budget debates. The Great Recession had caused federal government revenues to fall to their lowest level relative to the economy's size in 50 years. At the same time, safety net expenditures (including automatic stabilizers such as unemployment compensation and disability payments) and stimulus measures caused expenditures to rise considerably. This drove the budget deficit up, creating significant debt concerns. This caused several bruising debates with the Republican Congress. President Obama signed the American Taxpayer Relief Act of 2012, which included the expiration of the Bush tax cuts for high income earners and implemented a sequester (cap) on spending for the military and other discretionary categories of spending. Compared against a baseline where the Bush tax cuts were allowed to expire on schedule in 2010 for all income levels, this law significantly increased future deficits. Compared against the previously years, it reduced the deficit and limited future cost increases. Along with the recovering economy, the law even lowered the deficit back to the historical average relative to GDP by 2014.^[2]

With the economy recovering and major budget legislation behind him, President Obama began shifting to another priority: income and wealth inequality. From 1950 to 1979, the Top 1% earned roughly a 10% share of the income. However, this had risen to 24% by 2007, due to a combination of globalization, automation, and policy changes that had weakened workers' bargaining position in relation to capital (owners).^[8] He referred to the widening income gap as the "defining challenge of our time" during 2013.^[9] His tax increases on higher-income taxpayers lowered the share of after-tax income received by the Top 1% from 17% in 2007 to 12% by 2015,^[8] while job creation remained robust.

Wealth inequality had also risen similarly, with the share of wealth owned by the Top 1% rising from 24% in 1979 to 36% by 2007.^[8] While U.S. household net worth rose to nearly 30% from its pre-crisis peak from 2007 to 2016, much of this gain went to the wealthiest Americans, as it had before Obama became president. By 2015, the wealth share owned by the Top 1% reached 42%.^[10]

President Obama also tried addressing inequality before taxes (i.e., market income), with infrastructure investment to create middle-class jobs and a federally-mandated increase in the minimum wage. However, the Republican Congress defeated these initiatives, but many states actually did increase their minimum wages, due in part to his support.^[2]

President Obama's energy policy can be understood by looking at the different investments in clean energy that was evident in the American Recovery and Reinvestment Act of 2009.^[specify]

At Andrews Air Force base on March 31, 2010, President Obama announced a "Comprehensive Plan for Energy Security", stating that "moving towards clean energy is about our security. It's also about our economy. And it's about the future of our planet."

Obama proposed cuts of $1 billion, or 3%, to the Federal Emergency Management Agency (FEMA) for 2013. More money would be given to state and local programs under Obama's proposal.^[13]

Obama's overall foreign policy philosophy has been postulated as the "

Obama's first major speech on foreign policy was delivered to the Chicago Council on Global Affairs on April 23, 2007. He identified the problems that he believes the current foreign policy has caused, and the five ways the United States can lead again, focused on "common security", "common humanity", and remaining "a beacon of freedom and justice for the world":^[17]

• "Bringing a responsible end" to the war in Iraq and refocusing on the broader region.
• "Building the first truly 21st century military and showing wisdom in how we deploy it."
• "Marshalling a global effort" to secure, destroy, and stop the spread of
  weapons of mass destruction
  .
• "Rebuild and construct the alliances and partnerships necessary to meet common challenges and confront common threats," including
  global warming
  .
• "Invest in our common humanity" through foreign aid and supporting the "pillars of a sustainable democracy – a strong legislature, an independent judiciary, the rule of law, a vibrant civil society, a free press, and an honest police force."

During that speech, Obama called for an expansion of the U.S. Armed Forces "by adding 65,000 soldiers to the Army and 27,000 Marines", an idea previously introduced by Defense Secretary Robert Gates.

In a Washington, D.C., speech entitled "A New Strategy for a New World"^[18] delivered July 15, 2008, Obama stated five main foreign policy goals:

• Ending the war in Iraq responsibly.
• Finishing the fight against al Qaeda and the Taliban.
• Securing all nuclear weapons and materials from terrorists and rogue states.
• Achieving true energy security.
• Rebuilding US alliances to meet the challenges of the 21st century.

United States