President Obama, Meet The Economy
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Not only did Democrats vote Barack Obama into the presidency, so did wealthy Republicans. The strong support shown for Barack Obama will give him leeway and a mandate to execute on his plans for the economy, healthcare system, job creation, international relations and better regulation of the financial system.
Although, we are living in difficult times with unemployment at record levels, our troops fighting two wars, Barack Obama thinks he is positioned to bring our country the needed hope and promise to bring us through these times. Some may not agree with his policies regarding taxes (higher taxes for wealtier Americans) or the healthcare system, but the overwhelming vote for Obama, gives him time to execute on his strategy. But, if his strategy and tactics do not work, voters will turn on him.
Many are saying Senator Obama is inheriting the toughest environment for a new president since Franklin D. Roosevelt. Obama even acknowledged this in a speech yesterday. "Even if we're successful tomorrow, we will be facing bigger challenges than probably any administration since FDR,''
Barack Obama does not have much time to relax after his victory last night. He is likely to pick a secretary of treasury soon and then assemble the rest of the cabinet.
Obama is looking for a massive overhaul of our health-care system, transform our energies policies and alter the tax system. However, I think in the first 100 days, his top priority will be how to stabilize the economy and return jobs to the U.S. He needs to show some progress to achieving these goals in his first quarter as President, in order to instill the needed confidence in our economy.
Obama will likely look to achieve some of his goals by allocating more monies to a "middle-class rescue plan." He's talked about increasing his "middle-class rescue plan" from $115 billion to $175 billion. Obama advisers are saying if a stimulus is not pushed through this month, an Obama top priority will be to give a $1,000 tax rebate to eligible families making under a certain income level. Obama will also look to increase taxes on businesses and individuals making more than $250k.
Obama needs to put in place several programs to stimulate the economy, create jobs, fix housing glut, regulate the financial system and eventually stop sending so much money over to foreign countries for our energy needs.
We, as Americans, must hope that Obama's strategies and tactics do work, because if they do not, then we should expect our economy to worsen, confidence to wane and the destruction of wealth will continue to spread throughout the United States.
Although, we are living in difficult times with unemployment at record levels, our troops fighting two wars, Barack Obama thinks he is positioned to bring our country the needed hope and promise to bring us through these times. Some may not agree with his policies regarding taxes (higher taxes for wealtier Americans) or the healthcare system, but the overwhelming vote for Obama, gives him time to execute on his strategy. But, if his strategy and tactics do not work, voters will turn on him.
Many are saying Senator Obama is inheriting the toughest environment for a new president since Franklin D. Roosevelt. Obama even acknowledged this in a speech yesterday. "Even if we're successful tomorrow, we will be facing bigger challenges than probably any administration since FDR,''
Barack Obama does not have much time to relax after his victory last night. He is likely to pick a secretary of treasury soon and then assemble the rest of the cabinet.
Obama is looking for a massive overhaul of our health-care system, transform our energies policies and alter the tax system. However, I think in the first 100 days, his top priority will be how to stabilize the economy and return jobs to the U.S. He needs to show some progress to achieving these goals in his first quarter as President, in order to instill the needed confidence in our economy.
Obama will likely look to achieve some of his goals by allocating more monies to a "middle-class rescue plan." He's talked about increasing his "middle-class rescue plan" from $115 billion to $175 billion. Obama advisers are saying if a stimulus is not pushed through this month, an Obama top priority will be to give a $1,000 tax rebate to eligible families making under a certain income level. Obama will also look to increase taxes on businesses and individuals making more than $250k.
Obama needs to put in place several programs to stimulate the economy, create jobs, fix housing glut, regulate the financial system and eventually stop sending so much money over to foreign countries for our energy needs.
We, as Americans, must hope that Obama's strategies and tactics do work, because if they do not, then we should expect our economy to worsen, confidence to wane and the destruction of wealth will continue to spread throughout the United States.
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