Finance: 100 Days into the Obama Presidency

The 100 day mark is a milestone for new presidents, and is sometimes seen as a precursor of things to come for the rest of the term. This infographic depicts what has happened from Washington on down in the economy and finance in America since President Obama took office.

Finance: 100 Days into the Obama Presidency

The 100-day mark is a milestone for new presidents, and is sometimes seen as a precursor of things to come for the rest of the term. With the president and congress trying to get out of the worst financial crisis in nearly a century, here’s what has happened from Washington on down in the economy and finance in America since President Obama took office.

January 1: White House announces pay freeze for its staff

As a signal of commitment to restoring the nation’s economic health and the need to use tax money wisely, President Obama announced the freezing of senior White House staff members pay.

January 29: President Obama signs the Lilly Ledbetter Fair Pay Act of 2009

The first act the president signed into law happened to be a financial one: The Lilly Ledbetter Fair Pay Act of 2009. This act created a law to ensure fairness in salary and wages for all employees, regardless of gender, age or various other factors.

January 30: Obama makes executive order to prevent wasteful spending: Economy in Government Contracting

This executive order among other things, orders efficiency in government contracting and prohibits using government funds for goods and services that are not directly related to the contractor job. For example, salaries for time spent in meetings, preparing and distributing materials and hiring or consulting legal counsel or consultants cannot be billed to the government.

February 6: Obama makes executive order to establish President’s Economic Recovery Advisory Board

This board is established to oversee the economic recovery plan, including the use of recovery funds, and to ensure transparency in government spending for economic recovery.

February 13: The $787 billion stimulus bill, the American Recovery and Reinvestment Act, was passed by Congress

The Senate and the House of Representatives both pass the stimulus bill, a monumental piece of legislation designed to bolster the economy and speed up the process of recovery. The bill included billions of dollars in tax cuts, aid for state and local government, relief, infrastructure, energy efficiency and human capital.

February 17: President Obama signs stimulus bill

The American Recovery and Reinvestment Act becomes law per the pen of the president. This same day, Recovery.gov is launched to monitor and show the use of the funds and the progress of the act.

March 23: Secretary of the Treasury, Timothy Geithner, details rescue plan to buy up to $1 trillion in troubled assets.

Mr. Geithner outlines his plan for a new federal entity, in partnership with private investors, which could help to clear out bad assets that are clogging up credit markets.

April 23: Obama holds meeting with credit card companies about reform and consumer protection

Obama met with representatives from the credit card industry to discuss consumer protection and new standards that credit card companies will be held to in the future. This includes the requirement for credit card forms and statements to be written in plain language, with no confusing terms or conditions, in order to achieve maximum transparency and honesty. Additionally, the president called for contract terms to be available online in plain English for all customers, and that more accountability needed to be built into the system.

With 100 days down, a lot has happened in the economy and finance, and a lot more is going to. Lucky for the president, not just America is counting on him—the whole world is watching with fingers crossed to see what will happen next.