Amid the transition, it is befitting to take stock of the condition of economy the incoming president would be inheriting, which takes us back to the question of how the economy had fared under Barack Obama.

Obama's Tenure

Obama was inaugurated as president for his first term on January 20, 2009, and he was elected for a second term in 2012, becoming the 17 individual to win two presidential elections. Thus, his presidential tenure ran for eight years (from 2009–2016).

Well-Behaved Economy

The subsequent recovery, though uneven, was orchestrated by several policy actions by several agencies, including the Federal Reserve, Treasury and the SEC. Though the economy never got around to achieve its trend-like growth, it did well enough to stay afloat in the eight-year period, Obama was at the helm.

Debt Overload

Even this measure does not accurately reflect a country's debt servicing capability, as the government's income is only the tax revenue it collects and not the overall value of goods and services produced in an economy. Measured in terms of tax revenues, the debt servicing capability of the United States could be even worse.

Job Market: Bright Spot

Non-farm payroll gains have been robust, at least after the recovery got entrenched and gained some momentum. After bleeding jobs during the recessionary phase, the economy moved to a trajectory of sturdy job gains since late 2010.

Thus, Obama seems to have done well to steer an economy, he inherited as a weakling following the Great Recession, out of the doldrums. Although the economy hasn't been able to regain the glory of its heydays, it has definitely made strides in achieving a semblance of normalcy. All credits to Obama and his team of economic advisors!