7 Ways President Elect Barack Obama Can Fix the Economy
7 Ways President Elect Barack Obama Can Fix the Economy
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7 Ways President Elect Barack Obama Can Fix the Economy
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Home Page > News and Society > Politics > 7 Ways President Elect Barack Obama Can Fix the Economy
7 Ways President Elect Barack Obama Can Fix the Economy
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Posted: Dec 01, 2008 |Comments: 1
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1. Reputation Repair
With the stock market going up one day and down the next, good foreign investor relations need to be kept intact. The money we are spending on the bailout plan does not all belong to us, and it does not all go to American companies. A lot of our economic security lies in the hands of foreign investments, and the next president should work to improve these relations. We need to show investors that we can and will manage our money and policy better than in the past.
2. Prioritize Agenda
With so many important items on the agency, it is hard not to get caught up in too many things at once. History has shown us that problems ignored usually get a lot worse, and end up at the top of the list eventually any ways. Prioritizing his agenda early can save Obama both time and money and focus on getting the job done right the first time.
3. Improve Congressional Relationships
The relationship between legislative and executive branches has been negative for too long. If we could make this relationship more open and less attacking perhaps they might come to more well rounded, honest decisions. It is hard to get any bill passed into law with an unhappy congress, so keeping the relationships friendly and professional will benefit the country as a whole.
4. Reduce Outsourcing
With the tough economy, more and more companies are looking to outsource their manufacturing. However, the problem is that doing so can make the economy even worse. While it may be cheaper for a company to outsource, it gives valuable jobs to other countries. If the government could give these companies some incentive to produce their goods at home it would create more American jobs, and benefit the whole economy.
5. New Energy Policies
Obama needs to come up with a clear and concise energy policy that addresses foreign oil dependency as well as all of our individual dependency on oil. Exploring, funding, and distributing alternative energy will save the country billions in the long run and can create “green collar” jobs in the meantime.
6. Promote Innovations
By funding and rewarding technological and medical innovation and discovery, we can increase our countries competitiveness in the global market. These new discoveries will provide a service to all Americans who benefits from them, and by developing ways to reduce our dependence on foreign oil we can stop sending so much of our money to foreign producers.
7. Market Regulation
By closely monitoring trading activity and spending, we can help prevent market manipulation and hopefully prevent another mess like the one we are in now. Barack Obama was quoted as saying, “the American economy does not stand still, and neither should the rules that govern it. Old institutions cannot adequately oversee new practices. Old rules may not fit the roads where our economy is leading.”
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The Tax Lady Roni Deutch and her law firm Roni Lynn Deutch, A Professional Tax Corporation have been helping taxpayers across the nation find IRS tax relief for over seventeen years. The firm has experienced IRS tax attorneys who will fight the IRS on your behalf.
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1. Devin 25/12/2008
The only way to fix the economy is to promote economic growth, which requires high productivity, innovation and investment. If you can produce goods and services of a higher quality at the same price, or the same quality at a lower price, then demand will follow.
Throughout history, there are examples of economic success stories where this principle was applied. England during the Industrial Revolution; Germany and Japan after WW II; and recently China, until our economic collapse finally caught up with them.
Where has socialism ever worked? You might aruge that Nazi Germany and the Soviet Union pulled themselves out of a deep hole. Maybe, but you first must be in a very deep hole, and that’s not where we are. Besides, their growth hit a brick wall. Totalitarianism, slave labor and self-sacrifice can only get you so far.
Obama’s approach, which is the socialist approach, is one-sided in that it deals only with demand. He wants to put money in the pockets of fiscally irresponsible people, thereby driving up demand. But simply transferring wealth does not stimulate economic growth. It actually thwarts it by reducing investment and creating disincentives for creating wealth.
What’s worse is that he will continue to import poverty from south of the border, and subsidize these people. The jobs magnet has been replaced by the welfare magnet. The prospect of getting a free home, free health care, education, food, fuel, and a guaranteed income is a powerful driving force for immigration. But we don’t need any more economic burdens.
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