Barack Obama is faced with a large task as he enters office today as the 44th President of the United States. Our nation faces numerous battles militarily and is strained for cash because of the record deficit, but he also must do something to turn around an economy that is clearly sinking quickly.
To this point Barack Obama has primarily spoken of his stimulus plans and how he believes they can create jobs for at least 3 million Americans. The stimulus plan will be expensive in the interim, but President Obama sees it as being well worth the cost in the long because he believes it can bring a great return of investment for our nation. Today in President Obama’s inaugural speech he also said that plans will have to be gone through thoroughly and some that are not performing will have to be cut. Clearly President Obama understands that real changes must be made and quickly.
Wall Street and much of the investment world was slightly concerned with President Obama’s talk through the election season about some of his tax plans. Some on the street think that President Obama could end up making the economy worse by raising the capital gains tax to as much as 40% as he suggested he might. Others worry that though Obama promised tax cuts for 95% of the country, it will be hard for him to deliver on such a promise with a deficit that is already out of hand. The spending of our government clearly must be slowed down, and many hope that President Obama understands this.
So can Barack Obama right the economy? We won’t know the answer for quite some time. The other truth is, it will never be one person that turns an economy upwards or downwards, but the President must pick a cabinet stocked full of people who are wise to the issues we face in this modern economy. As Bharathi said in today’s post earlier, Americans like myself, as well as the rest of the world are surely hoping that his words turn into actions that stimulate the economy over time! This is a global economy and President Obama holds a very important position in leading the path to a possible recovery.
Wonderful post – I was heading for a similar article which I will probably still take a shot at, but from a slightly different angle. Thanks for sharing this with your readers…Obviously a lot of others appreciate it too!
Barack Obama is the best democrat president in my opinion. he makes the best judgment and foreign policies.. ‘
It’s really a nice and helpful piece of information. I’m glad that you shared this helpful info with us. Please keep us informed like this. Thanks for sharing.
I’ve learned a few important things through your post. I will also like to express that there may be situation in which you will have a loan and don’t need a co-signer such as a U.S. Student Aid Loan. But if you are getting financing through a standard banker then you need to be willing to have a co-signer ready to enable you to. The lenders will certainly base their own decision over a few elements but the most significant will be your credit score. There are some loan merchants that will in addition look at your job history and come to a decision based on that but in many cases it will be based on on your rating.