Obama Inherits Bad Legacy
Washington – 14.01.09 – President elect Barrack Obama may have to start in office inheriting the bad legacy left behind by the Bush administration.
When the new President assumes office on January 20th, he will have two unfinished wars, deep economic recession, and budget deficits mounting to US $1 trillion to cope with. The tarnished image of the country abroad does is no help for him either.
Political analysts believe that this is the worst legacy left behind by an outgoing president for an incoming one since Herbert Hoover left one for President Franklin Roosevelt with the great depression.
Despite the expectation of Bush loyalists that history will adopt a kinder view about his legacies, debate is already on whether the Bush legacy is even worse compared to the ever worst legacies left by Herbert Hoover, James Buchanan, and Warren Harding.
“Can anyone really doubt that this was an abysmal presidency?” said Political Scientist Shirley Anne Warshaw of the Gettysburg College in Pennsylvania. “All that’s left to sort out now is just how far down the list he goes.”
Worst financial crisis that hit America in the last 80 years and the lowest approval ratings for any president at under 30% makes Bush a strong candidate to be named as the worst president ever.
The huge support he won on the wake of the September 11th attacks in the year 2001 has waned since long. The Unpopular Iraq war, inept response to the Hurricane Katrina as well as the meltdown at Wall Street has put the White House under shadows. The 16-year high unemployment scenario makes the situation look even worse.
Only saving grace was that “We haven’t had another attack in seven years,” spokeswoman for White House Dana Perino said. “And that matters.”
Overseas impression about Bush administration was reflected in the hurling of shoes on him by the angry Iraqi journalist. At the same time the nuclear standoff with Iran could be one of the greatest challenges faced by Obama. Resurgence of Taliban in Afghanistan is another issue while Osama bin Laden is yet to be captured or killed.
And above all, the Israeli attack on the Gaza Strip was the last nail in the coffin for the Bush Administration and a thorn in the neck for the upcoming Obama regime.
Obama calls for supporting his economic rescue plan
In one of the starkest warnings given out by president-elect Barack Obama he stated that the United States economy faces a risk of going on a downward spiral journey that could last for years if his initiated rescue plan is not implemented and supported to its fullest.
His aides have been placing pressure on him to back down until he assumes office saying that the country can have only one president at a time. He brushed aside the appeal of his aides and boldly made the statement public. Such deep involvement by a president elect before taking office has rarely been witnessed. Yet on the Gaza issue Mr. Obama has remained silent.
Mr. Obama had a consultation with Bush in the White House a day before which is what sparked the future president to make his appeal. He warned
“This recession could linger for years.” His solution to the problem is a massive job creation program along with major tax cuts which he wants the congress to adopt as soon as possible.
The future president said “I don’t believe it’s too late to change course, but it will be if we don’t take dramatic action as soon as possible. If nothing is done… the unemployment rate could reach double digits.” He said the economic meltdown had followed “after a period of profound irresponsibility.” From the common American citizen to the political leaders and specifically the Wall Street have been irresponsible regarding the economy which is why the country is in the current problem.
Mr. Obama has been intervening in matters of the economy since the last four days. Yesterday’s efforts were however the most high profile involvement that he has shown so far. He addressed those Republicans that that had been criticizing his program saying in his own defense that the rescue initiative was more than “just a public works programme.” The program, if implemented is aimed at creating over three million jobs that is going to “spark the creation of a new clean energy economy.”
The president elect has also shown interested in making renewable energy sources more accessible. He aims to double the amount that is currently being generated so that around 75% of the government buildings can be made more energy efficient along with a large number of homes. These measures would enable the U.S to save billions of dollars and create millions of jobs.
Senate Democrats retreat on Burris due to pressure from Obama
Under pressure from the president elect Barack Obama himself, the Senate Democrats hastily retreated on the accused Roland Burris as the successor to the Obama. According to Obama and the critics such a standoff was shedding negativity on the future administration. 
Even though no formal agreement had been made regarding swearing in Burris as the successor he could be seen posing for photos at the capital along with Senate leaders. A forty five minute meeting followed up at the end of which supportive words were put forward for the nomination.
According to Democratic officials Obama held talks with Senate Majority Leader Harry Reid in order to look for a way to put an end to the dispute immediately. Obama said during the conversation that if Burris had the legal standing the legal standing to be seated albeit the controversy that surrounds him then it should be done sooner than later.
The disputes arose when some of Burris’s supporters had apparently made some racial remarks. Following Obama’s departure from the Senate, the former Illinois attorney general would be the only black member of the Senate.
Burris said during a discussion between him and Reid along with Dick Durbin that “My whole interest in this experience is to be prepared to lead Illinois, very shortly I will have the opportunity to do that.” These statements were not disputed by Reid nor Durbin. The problem was that they believed that the Democrats would not be willing to seat a senator who was nominated by a governor that is being accused of selling the seat. Obama agreed with their decision.
Obama said speaking to the press that Burris was fond of him and that the two would be looking forward to work with each other. Reid and Durbin then made public statements regarding the dispute “First of all, understand we don’t have a problem with him as an individual,” He praised him by calling him an extremely nice person but went on to say “At this stage, the process is working out.” Durbin added “I’ve known him for such a long time. We are friends and on a first-name basis.”
The latest developments and the tone that has been set amongst the Senate officials suggest that the former state attorney general will eventually get the chance to be seated. This is however conditional to whether Burris is able to clear his name of the dispute regarding how he got to the position that he is in.
Automaker industry will challenge Obama’s economic resolve skills
Barack Obama has warned the auto industry not to take undue advantage of the lifeline thrown at them by the government in these difficult economic times. The government has promised to support struggling auto industries with billions of dollars so as to help them get out of the economic quicksand.
If the struggling auto industries declare sudden bankruptcy the economy would further suffer in the long run. Understanding the importance of keeping the auto industry alive the government has pledged to help them out with their finances. The new bailout program will give Barack Obama the chance to jolt the industry back to life while at the same time it will test his resolve.
The newly elected president is all set to take over office in 2009. Barack Obama has been very vocal about his concerns regarding the American automobile industry since well before he was elected as president. During his time in service as the United States senator Barak Obama had sponsored two bills for the automobile industry. One of these was concerning the fuel economy standards and the other was to encourage the widespread use of alternative fuels.
Barack Obama has written and spoken aloud about the future of the automobile industry. His efforts in this direction show that he has a keen interest finding solutions and upgrading the technology especially related to fuel efficiency.
The current financial mess that the country is in is going to place major hurdles in the new President’s way as he tries to resolve the issues of the automobile industry. He has long been voicing his plans but will be forced to compromise on them due to the current financial state. The newly elected president will have to balance out the resolutions as a lot of effort is required to stabilize the broader economy as well.
The President was voted in with the help and support of the United Automobile Workers Union. Now the Union would want to have a say in the proposed changes and their execution. Mr. Obama is an environmentalist and that is where his interest in the automobile industry springs. He faces a tough challenge up ahead and all eyes will be on him as he tries to balance out this difficult situation.
Obama plans economic revival with $850 billion stimulus
Friday, Dec 19 – In his latest bid to revive the sinking US economy, Barrack Obama aims to place $850 billion stimulus financial plan before the Congress next year.
His bid comes on the wake of the US economy sinking into recession, massive growth of unemployment, and crumbling infrastructure in the country.
The amount which is around 6% of the $14 trillion US economy, may be the antidote to US economy further sinking into recession, believes the president-elect’s economic advisors.
Speaking on the condition of anonymity, a prominent advisor of the president-elect said the need of the hour is to reverse the trend of rising unemployment in the country. That being the background, it is not surprising that the president-elect aims to create around 2.5 million employment opportunities over the next couple of years.
“The plan basically aims at achieving exactly that objective. It exceeds initial estimates by House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid. It even surpasses the estimates made by leading economists and the International Monetary Fund” he said.
Obama’s plan does not confine itself to prevention of unemployment alone. While the proposal is now in circulation in the congress, his advisers are working with the lawmakers crafting a package that aims at overall improvement of the crumbling infrastructure like roads and bridges in the country.
“The plan may also include state aid for unemployed and health care as well as incentives such as tax credits for promoting renewable energy production”, lawmakers say.
With the ever rising unemployment problem in the country, the estimates prepared by economists assessing the requirement to meet the challenge have also been rising. Kenneth Rogoff, Professor Harvard University and advisor to Republican Presidential Candidate John McCain and Nobel Prize winner Joseph Stiglitz estimated the requirements at a staggering $1 trillion.
The Global scenario is not much different from what Obama aims at. While the UBS AG estimates the global stimulus of 1.5% of GDP over the next year, the IMF has asked for at least 2% of GDP set out for the purpose. The European Union Leaders are drawing up similar stimulus packages that would together worth for around 1.5% of the 27 nation economy. They would sum up at around 200 billion euros or $289 billion. Among the Asian countries China leads the way with a plan of around 4 trillion yuan or $585 billion stimulus.