Jan 20 2009
Obamanomics and the Current Financial Crisis
Barak Obama the new US President who has made history by becoming the first colored US president has a tough task ahead in the form of the current economic crisis gifted to him by his predecessor Bush. Obama has indicated in many of his appearances and public statements in the wake of the current economic crisis that he will be taking the crisis head on.
Obama recently gave a go ahead to the current president Bush’s team for spending the money earmarked to be given to the companies in crisis. He didn’t want to take credit for what was a necessary measure and needed immediate action. Obama’s insistence on giving priority to the bail out of the sinking automobile giants that are pride of the the fledgling manufacturing business in the US shows a lot about what is to come in the form of economic policies in his tenure as the President.
Obama had during his Obama for President campaign given hints at trying to stop outsourcing of jobs from the country to other less costly countries. It even makes sense to save the country’s vast recently unemployed population from facing the situation of prolonged joblessness and thereby deterioration in the quality of life of a huge population. If he allows to let this deterioration happen then that would be injustice to the people who have shown faith in him by electing him the first colored President making history.
The citizens of America will have to wait and watch as their new president shows his economic skills - or should we say Obamanomics.
Your comments are welcome.
