ABSTRACT
Barack Obama took bold action. He adapted to changing circumstances. He balanced the principle of helping every economic interest with emphasizing what worked, which was bailing out the big financial institutions even though this was unpopular. Obama showed impressive political skills in persuading the Democratic majorities in Congress to approve the American Recovery and Reinvestment Act of 2009, which contained his controversial economic stimulus package. He helped to shore up the financial sector through re-regulation, and rescued the auto industry. Obama’s adaptability, sound judgment, and preference for quiet deliberation—his signature leadership traits—carried him and the country through what became a global economic meltdown and big declines in world markets. He persevered. And he achieved success.
