Obama To Fix The Economy?

[Spyda 0]

When it comes to priorities, many polls suggest Americans want President-elect Barack Obama to fix the economy first when he enters the Oval Office in a little more than two months.A poster this week in Los Angeles, California, depicts President-elect Barack Obama as Superman.

A poster this week in Los Angeles, California, depicts President-elect Barack Obama as Superman.

Getting Congress to approve tax cuts promised on the campaign trail may be a good start toward tackling the problem, analysts say.

If that goes well, experts say, the political momentum will help make it easier for Obama to keep his other campaign promises on alternative energy and getting health care for millions.

"In Washington, winning leads to winning, and losing breeds losing," said Stuart Rothenberg of the nonpartisan The Rothenberg Political Report.

However, setting priorities often means navigating treacherous waters. Video Watch the challenges facing Obama ť

"Between now and inauguration, every group in the country is going to lay down their marker as to what they think should be done, what they need, what they want and how they got him elected," Rothenberg said, adding, "This is a very fine line with various constituencies. Everybody wants a piece of Barack Obama."

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I think currently there may be too much pressure on Obama to fix the struggled economy. As it stands, the economy is in EXTREMELY difficult position, on that has not been as bad in a couple of decades or so.

The bad thing is, if it finds Obama isn't able to fix the economy in such a short matter of time, people are going to get anxious and annoyed so very quickly. I sort of feel bad if this does happen, because so much is currently being hoped for by Obama, and failure really isn't an option anybody can afford.

The first step for Obama will be to get Congress to approve one of his major tax cuts. If he is able to do that, then this will really make a lot of other things so much easier for him. Since congress is mainly democratic, I'm pretty sure that this is going to help speed up a lot of the processes, and help Obama get more things done w/o having people bag on him.

Nonetheless, I'm hoping Obama is able to come through, and get this Economy back in shape

[jlhaslip 4]

Regardless of the Political party leading the country, the decisions that are the best to make for the Economy are typically the toughest Political decisions. The right decision, economically, is often unpopular.The Keynsian Economic Theory suggests that when times are good, the Government needs to tax the population and create a nest egg of funds to spend during the bad times. This is basic Economics. However, that is an unpopular political decision for the party in power and will often lead to its demise at the next election. Particularly in the USA where the opinion of 'every man for themselves' is so predominant.In my opinion, the States needs to become more benevolent towards the 'less advantaged' members of its population. Instead of trodding on those less fortunate, provide a hand-up, not a hand-out. Create Educational opportunities to the less fortunate, even if it costs money today, those people assisted will become better suited to becoming productive members of the society and they will be in a position to contribute to the economic cycle, providing tax income in the future. Create a decent Health care system that will be affordable. The jobs created will fuel economic growth, research into Health matters, and a more productive society in general.<rant on>As well, the States needs to also lead by example throughout the World. Extending a helping hand economically and socially in the parts of the world where they are or have been actively earning profits by taking advantage of the local economies, whether by using the natural resources or the indigenous population as a Labour source to provide goods and services at cheaper rates than they can get labour in their own country. Yes, I am for a decentralized, border-less, free trading system, but not at the expense of other cultures and societies. A perfect example would be China... the conditions for the local peoples who work in the sweat-shop factories to oil the US economy by providing cheap goods for sale at Wally-world is sickening. Walmart and the US Government should be caring enough to allow the same wages and benefits to those working under the terrible conditions found in the Third World as it would cost them in the States. The USA has been its own worst enemy abroad, so perhaps Obama and the Democrats in the House and Senate will recognize this and take steps to improve both its own condition in the US economy as well as abroad in the lesser developed regions they have been raping for as long as they have.</rant off>Obama, and the people he selects to operate the Government, have some very tough decisions to make for the US economy. And in spite of the American attitude of 'winning at all costs', please consider that whatever they decide to do, the impact is felt throughout the World. I am Canadian, skilled enough to earn a decent living, but still, any decision they make, or policies they affect, will also affect me... yet I didn't get a chance to vote... I wish them all the best.

[TheDisturbedOne 1]

I have a feeling that Obama won't help the economy at all. First, in order to do all of his 'nice things' that he promised us less than a week ago, he has to get the money from somewhere. That somewhere is the middle class (though he says he won't tax us more, which I highly doubt) and the upper class. And who are the people who are investing in these companies are...you guessed it, the middle and upper class. So then we won't have more money to buy more stocks, that will then in turn help the economy. I think the Bush plan wasn't that bad, it's just that it wasn't even given a chance. People judged it too early, and I think it will work, and Obama will take credit for it.

[serverph 0]

money is the problem? for all the that the armchair economists in the USA who expound that more taxation is all there is that can be done by the incoming US president-elect obama (who hasn't even been inaugurated yet and who is yet to actually begin to clean up the mess by the still sitting US president GWBush's government... until late january next year), here's a thought for you.... how much is the USA spending again in the the war on terror in afghanistan and iraq again on a daily, weekly, monthly, yearly basis? more taxation is not the only way you can afford to pay for all the economic fixes planned by the government. it boils down to WILL POWER... and the audacity by the leadership to properly and realistically realign the priorities of the US government when it comes to government spending.

 

people shouldn't just be mouthing what they hear from the talking heads on the idiot box on issues as broad as the economy. like during the election campaign sorties... joe plumber this, joe plumber that. give the election winner a break (for now), and stop raising the ghost of taxes, taxes and more taxes until it is clearly on the president's IN-tray and he acts on it with dead-sure certainty and he has initialed his name on the "phantom" initiative. wait for his first 100 days in office and see what he comes up with to ease the problems on the economy of america (and consequently, the world)... then let's return to discussing the merits of this subject on ghastly (and ghostly) taxes if it is apt or not.

 

in the meantime, the transition of government is still underway with GWB still clearly on the helm. that's still more than two months the economies of the USA and the world has to bear. obama is not a magic pill for the economic woes of the world... but instead of griping about what and how he is perceived to act, wait until he actually executes an action then critic on it all you want. it seems that a lot of those who haven't voted for him in the elections where the republicans and libertarians and independents lost doesn't want the obama government to succeed. in the end, who ultimately loses is the american people if you don't get behind the man the majority of the democratic process in your country has decided to lead you in these embattled times. in these troubled times, you can't afford to let your government fail you. it is not that you are just to be passive in things your president and your government does.... but the more that you should be active in making your government be accountable for their promises and actions, now that you are off to a fresh start in governance. the USA is not obama, the USA is YOU the american people.

 

obama is your representative to the world... so repudiate him if you see something wrong, but don't forget the good he does when he's finally in office too. we, who come from other parts of the globe and who don't form part of your union of states, can only wish that your president-elect can make the right gestures and actions which will stabilize the economy. and for the people of america, act like one UNITED STATES OF AMERICA, not only in name, but in deed as well. a lot of nations look up to you, although it can be also said that the admiration is somehow misplaced. coming from a so-called third world country, i will second the rant posted by jlhaslip.

[Mich 0]

Politics on Trap 17. Wow. I only have one thing to add to all this conversation about Obama and the economy.

 

A President can only accomplish things with the co-operation of the House and Senate. No one person can do it all alone, nor does one person have all the answers. With input from US citizens, cabinet members, advisors, consultants, Senators, Congressmen as well as the President, I pray that the "right" decisions are made. We, the people of USA, all need to pull together to see that this mess we are in is corrected ASAP.

 

God Bless Us All!

Edited November 10, 2008 by Mich (see edit history)

[Echo_of_thunder 1]

well the way I feel of Obama and taxes?he could fix it, but he only has 4 yrs to do it. Even less really, because the 1st year everyone is gonna be testing him. His last year he will be campaining so that really leaves him just 2 yrs. and with how things are. it will take longer than that just to fix what Bush has done to this country.Also too. The House and Senate. Will they let him do what he has to do to fix all this?Willing to bet the farm they dont give him any leeway on anything without a big fight.

[Deretto 0]

This is true, but I have strong belief that that both groups will side with Obama. I'm not just saying this because the house and senate are mostly democrat. I honestly believe that everyone believes in the plans Obama will come up with. Heck, look at what he was trying to get Bush to do for the automobile industry. He's not waiting two months to get started. He's jumped along in the backseat already. I think he's already off to a great start.Yeah, there may be some pressure, but I'm sure he likes it that way. I mean, look how much he got the entire US pumped up!

[joeblogg 0]

i don't think Obama will be able to fix the US economy. only time will heal it. there is no simple solution to the crisis at the moment. oils running out heaps of countrie's are in recession and everything is basically stuffed. but there is a temporary good side. with the bad economy fuel is becoming cheaper . but Obama has a huge task ahead of him and i don't think his experience will be enough to get through. i think McCain would have been by far the better choice. but America has decided who they want to lead them through these troubled times and that is there choice.

[adriantc 0]

Many people see Obama as some kind of savior, but I think this crisis isn't going to be "fixed"; at least not anytime soon. I like Obama and I hoped he will win the elections since it shows how much the world has changed. At least on the side of tolerance the world has done a huge step foreword. 40 years ago there were buses and toilets separated by skin color and now a black person is president of the USA. But, euphoria aside, things are not looking good for the USA or for the rest of the world. Maybe there are some not ready to admit, but we are in some deep s**t!

So why I think Obama can't fix this troubled economy? Because capitalism has one rule that states the following... If the trend is positive it will keep getting "more" positive; if a trend is negative it can only get "more" negative. In other words this problems are only going to get worse as more companies fail, more people will loose their jobs, spending power will lower; less demand -> more bankruptcy -> job loosing and so on... There is of course a bottom to this fall but I thik we are no where near. In fact what we have seen is only theory - on paper. The real massacre is when this crisis hits the real market - and that has just begun. Remember this: THIS IS ONLY THE BEGINNING!

 

I think there is not much thing Obama can do on the short run. This "bailouts" are only worsening the situation as it will increase inflation and lower the buying power even more. The same situation with lowering the interest... On the short run it helps, but on the long run it will only get things worse. What Obama can do is to make this period shorter or better. But he can't fix this tomorrow or in 2-3 years! Just today I read that Obama's advisers are thinking that by the end of January General Motors (if not helped) will reach bankruptcy. Imagine the jobs lost! The great General Motors falling - I never thought I would live to see this happen...

 

So what is my advice... Get ready for some very rough times!

Edited November 13, 2008 by adriantc (see edit history)

[darasen 0]

The Keynsian Economic Theory suggests that when times are good, the Government needs to tax the population and create a nest egg of funds to spend during the bad times.

This theory is also 100% false. It has been proven time and again that lower taxes increase government revenue.

[kobra500 1]

please, the US's taxes are so low that whenever anything bad happens it doesn't get sorted out, there fraction to what they are over here. If New orleans was in so many other countriest the problem would have been fixed in the year, instead nothing happened, trust me, in the US you get undercharged on things such as tax and its the best thing your government can do by raising them.

[jlhaslip 4]

This theory is also 100% false. It has been proven time and again that lower taxes increase government revenue.

I was not referrring to the Tax Rates, i was expressing the opinion that the purpose of Government is to spend money and stimulate the Economy when times are tough. The source of funds for that spending should derive from Taxes collected when times are good.

[Saint_Michael 3]

Odds are that Obama won't be able to fix it within his presidency, our country is so far in debt that if we ask every country to pay us back for all the billions and trillions we have given them they will laugh in our face. The oil industry has ruin this country with all their bribes and lobbyists and what not, if the US were to tax the crap out of them we could make a big dent in our national debt. Of course, that will never happen because the Middle East, parts of Africa and South America control 99 percent of the oil market and so they use oil as a bargaining chip to screw the American citizens over. Hopefully Obama will do the right thing and get all the money from the rich because most of those people don't do nothing with the money except to collect dust and what not.

[harrison858 0]

Personally, I don't think he will lower our taxes. I think he is concerned about the bail-out plans, and he probably thinks that the government dosent have enough money. Then, he will raise our taxes.Our economy will then get much worse, and there's nothing we can do about it. Obama would be too inexperienced to make big changes like this. He'll have a bunch of people in congress on his side because they will mostly be democrats. His officers are mainly democrats.So, lets say that he raises our taxes. More businesses will fall, more people will end up on the streets, and there will be nothing that we can do. The crime rate of America will rise charply because people have no other choice. The stock markets will start to fall sharply. The value of the dollar will fall sharply. Obama can cause another great depression, because no president would ever be dealt with this kind of situation. You have an election right when the economy fails. There is no worse time to have an election than that. People all over the nation, all over the world will panic. Countries will start to attack each other to gain power and wealth. The world will be in chaos.

[Echo_of_thunder 1]

Odds are that Obama won't be able to fix it within his presidency, our country is so far in debt that if we ask every country to pay us back for all the billions and trillions we have given them they will laugh in our face. The oil industry has ruin this country with all their bribes and lobbyists and what not, if the US were to tax the crap out of them we could make a big dent in our national debt. Of course, that will never happen because the Middle East, parts of Africa and South America control 99 percent of the oil market and so they use oil as a bargaining chip to screw the American citizens over. Hopefully Obama will do the right thing and get all the money from the rich because most of those people don't do nothing with the money except to collect dust and what not.

Don't hold your breath on him fixing it at all. Remember, He will have to have help from all. House and Sente, and odd's are he will not get it, Obama is too knew in Washinton and there still a lot of the old timers around that are going to try and cute him down a few pegs.

Besides With how the country is now? It will take longer than 4 years or even 8 years to fix.

THANKS BUSH!