As the first non-white American president elected during one of the worst recessions since the great depression, Barak Obama certainly receives a lot of spot light. He has also generated many controversies in his actions; one of such controversy is his health care reforms.
Now, after a decent amount of time in presidency how is Obama doing as a president? His image overseas is extremely good. In countries like Turkey and Korea, the support rate for America is almost rock bottom, while the support rate for Obama easily soars. This phenomenon is due to people perceiving America and Obama as two different entities, he is known for keeping very open and charismatic procedures and the world has high hopes for him improving America’s image internationally.
Though many do not admit it Obama’s policies have been able to keep the recession more restricted than would have been without government intervention. America was the starting domino in the effect which toppled the world’s economy into a recession. To recover from this, the most effective reaction was not applying reforms, but getting consumers to spend. 70% of America’s GDP comes from consumer spending. If anything could get America back up on its feet, it would have been the consumers.
The $787 billion stimulus package “American Recovery and Reinvestment Act of 2009”, "Cash for Clunkers", and “Public-Private Investment Program” are all fiscal policies which helped the consumers spend more. The lack of confidence of consumers was gained back through these policies.
Obama is referred to as a charismatic orator, and for a good reason too. He’s a very unique president with strong visions for the country. Obama has done well keeping the economy intact during this recession and deserves a lot more credit than what americans give him today.
Tuesday, January 19, 2010
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