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Barack Obama inherited a bankrupt economy, a bankrupt government, and a bankrupt foreign policy.

But despite historic levels of obstruction, President Obama was able to bring the economy back from the verge of a second Great Depression.

You could argue that Barack Obama faced in '08 a situation as bad as any president since the Great Depression. What Obama inherited from the Bush administration, we all remember, was just an absolute global catastrophe.

In his first term, President Barack Obama played a cautious manager navigating the worst economic disaster since the Great Depression and cleaning up the messes left by President George W. Bush in Iraq and Afghanistan.

In the end, for all of Obama's grand rhetoric on ridding the world of nuclear weapons, history has doomed him to preside over the emergence of two rogue nuclear regimes (North Korea and Iran).

If history is a guide, a victory for Obama means he faces the prospect of a second term dogged by scandal or inertia.

In his first year in office, President Obama pulled us back from the brink of the greatest economic crisis since the Great Depression and worked to lay a new foundation for economic growth. The president identified three key strategies to build that lasting prosperity: innovation, investment, and education.

By failing seriously to confront the most predicable economic crisis in our nation's history, the President's policies are committing us and our children to a diminished future.

Without an understanding of history, we are politically, culturally and socially impoverished. If we sacrifice history to economic pressures or to budget cuts, we will lose a part of who we are.

I thought Obama was in a position to do some things. I thought 2008 was a turning point in history, with him and the Wall Street crash happening at the same time, but you just learn that those entrenched powers were really entrenched; those decayed institutions were really decayed.