Obama’s Economic Plans & You

obama economics

President Barack Obama has clearly left a mark on history when he won the presidential elections. Eyes are now turned to President Obama as people wonder about his economic plan and what the country would soon face under his regime. How will he take action on the current situation particularly on increasing job opportunities and restoring America’s sinking economy?  Will he take the same path Bush had gone through or will he choose a different way?

A lot of challenging jobs are awaiting our future leaders. Heidi Shierholz who is an economist at the Economic Policy Institute in Washington, D.C., stated that America had a devastating decrease of employment during the first 10 months of 2008 by 1.2 million. The situation got worse as the paychecks were adjusted and dropped to 2.5 percent.

Experts say that it is too early to judge the administration of President Obama, but others believe America is ready to resolve the complications that it’s going through. People say that there will be long-term and short-term solutions included in Obama’s economic plan that will handle the situation. There are others though, that believes Obama’s solutions cannot remove but will only reduce the effect of the unavoidable obstacles that America is yet to go through.

I believe modifying policies particularly research and development subsidies, education grants and worker-retaining funds will improve the country in the long run. Education is one of the economic policies that is worthy of the government’s attention. If workers have enough knowledge and training on in-demand jobs, this would come with up to three decades of gains to America.

Obama’s economic plans contain short term income enhancers. The president has included development of unemployment insurance, support in state budgets and improvement of job opportunities to the people of America. $150 billion is invested in clean energy for 10 years to increase jobs by 5 million.

Motivating business people to invest is not very advisable nowadays.  This would greatly affect the number of jobs that can be available to people.  The pains of the credit crisis that the businesses are caught up with are also felt by their employees. It would be better to keep a limit on federal tax rates and not to make any modification on business policies because it would only worsen the situation.

To top it all off, experts believe that Obama’s economic plan should not limit to physical policies alone. America is in desperate need of hope and inspiration to go through these devastating moments. Giving $500 to every employee is not a very wise move to motivate them to work. The people need great leaders that would serve as role models and would stimulate the people to aspire and reach their goals.

Don’t forget to try the salary calculator if you need help figuring out how much you really make with the new tax brackets.

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