Obama has a lot of lofty plans for his administration already. According to the article, he has plans of a $300 billion stimulus package and wants to save 2.5 million jobs. Also, even though he talked of repealing the tax cuts for people earning over $250,000, now he says he will most likely just wait until that plan runs out in 2011. Obama basically wants to have his plan set by the time of his inauguration, if not sooner through working with Bush. I think Obama has the right idea wanting to start his plan as soon as possible to cushion the damage of the state of the economy, but it seems like his has very high expectations for what can be accomplished immediately upon inauguration. I also think it is a good idea to let the tax cut for the wealthy run out rather than try to repeal it; that way he will not alienate conservatives in congress right away and maybe they will be more open to his stimulus package. I think Obama should be less worried about how much the stimulus package will cost and just focus on trying to get the economy back on its feet and try to get people jobs who are out of work.
News that Geithner, the president of the federal reserve bank, would be the treasury secretary boosted the stock market 500 points. I think this is a good sign that Obama is on the right track since he has already had a hand boosting the stock market and he is not even in office yet.
Overall, even though Obama may think he can get his plan going a lot quicker than he really can, I do think he will do a good job in helping the current state of the economy.
Article: http://www.nytimes.com/2008/11/24/us/politics/24transition.html?pagewanted=1&_r=1&hp
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment