Keywords or Terms:
Republican Convention; Democrats Convention; Governor Mitt Romney; President
Barack Obama; America’s Economy; General Elections; Party’s Platform; Promises,
Propaganda and Second Chance.
It will not take long before November 6, 2012 is here,
politicians, Republicans and Democrats, will continue to become antsy about
their chances. But the promise of each Party’s flag bearer and competitiveness
of each party’s platform before voters may quickly evaporate if the debates
between the two candidates for the office of Presidency points to an
alternative universe: it is better to give the incumbent a second chance.
Republicans and their flag bearer, Governor Mitt Romney, may be averse to this
argument; however, many voters who have been looking at the unemployment and
job market, may actually be seeing the silver lining at the end of the rainbow
regarding the whole American economy. Will the American Voters give the
incumbent of the White House a second Chance? This question is explored in
today’s blog.
While Republicans may want President Obama to stumble, actually
some are praying for that in the forthcoming Presidential Candidates’ debates,
over who is a better candidate to pull or see America out of the recession, one
brought on us by two consecutive Republican Administrations, which had engaged
in unpaid double foreign wars, Democrats are making an affirmative choice, that
waiting for the miracle of gradualism in solving America’s economy’s malaise,
is much superior to the aggressive tax brake and write-offs promised by a
proposed Mitt Romney Administration. Republican voters are perhaps focused on
the chances of occupying the White House, once again, where they can bring on
the society, the supply-side economic policies, which many Democrats frown
upon; and, which many neoclassical economists argue is not in the interest of a
nation deep in debt and a tittering economy; where unemployment problems are
still issues of great concern. Democrats on the other hand, will want the
American voters to evaluate the work so far in stimulating the American
economy, including policies already implemented and the time needed to see them
work, to allow the economy to gain the necessary momentum to douse the
unemployment problem.
One of the hidden aspects of corrective economic policy
implementation is that it often takes a while before the full impact is realized
across the economic spectrum. Although rapid growth in the economy is often
sought by the pensive and impatient voters, especially by those suffering from
the direct impact of a recessional economy, no other means of knowing the
impact of implementation of corrective economic policies, but time. It takes
time for policies to begin to bear positive fruits; and in some occasions, it
takes double doses of corrective economic policies or measures to actually
achieve the needed threshold of success. This is why you hear the argument: was
the initial economic stimulus plan, embarked upon by Obama’s Administration, huge
enough to make correction to the recession the nation found itself beginning in
the last quarter of 2008?
Over the past four years, we have experienced undulating
performance of the job market statistics and the economy. Consumer’s
consumption have dipped and roughly edged upwards for some time, only once
again, to fall on its face, because of poor management of stimulus plans and
sometimes, the resistance of some economic indicators to budge in the face of
fiscal pressures. Much as the Federal Reserve Bank Board has kept the borrowing
rate at close to zero; household consumption and credit still remain
lackluster. This fact, together with the recalcitrance or uncertainty in
congressional support of current Administration’s legislative initiatives has
compounded America’s
economic problems; and this has presented room for criticism of Democrats by
Republicans for the poor handling of the economy. While President Obama has
remained reconciliatory and sought support for his plans to stimulate the
economy, he has constantly been rebuffed by Republican lawmakers and this has
made his job difficult and sometimes exasperating. Truth of the matter is there
is hardly much that the Obama’s Administration can do to rapidly bring about
the desired positive impact from policies perspectives on the issue of
unemployment if congress is failing to work with the executive branch. Hence,
it is not for the voters to blame completely the issue of the high
unemployment, solely on the Obama’s Administration. The United States Congress
bears the same guilt and responsibility for the poor job market in America
Although the Party in the White House often gets blamed for
a poor job market, it can be blown out of proportion, especially in an election
year, when the opposition party is seeking to unseat the incumbent and change
the composition of congressional membership in their favor. When the
unemployment problem in America became dire straits, with the unemployment rate
hovering around 8.5 percent, despite a 22 straight month’s consecutive job
situation improvement in the manufacturing sector, some conservative think thank reports
still asserted that the unyielding unemployment rate and lack luster job market,
was as a result of Obama’s Administration failure to appreciate the magnitude
of the recession. Much as this may be true, the expressed considerable
displeasure with Obama’s Administration understanding of the deep hole in the
economy and or unemployment problem must be equally blamed on congressional Republicans,
who were less disposed to corrective policies to stimulate the economy in the last
four years.
It will be more accurate, in sum, if the Obama’s
Administration had failed to see the need to put in place a stimulus plan or
other corrective economic measures or policies, when the economy was trending
into a recession, just about the time the Democrats began to occupy the White
House. When Obama took up the mantle of power in 2009, the size of the
deplorable state of the economy was hardly known; and if at all, the
Republicans who were handing over power, were more mystified by the performance
of the economy. After the fall of Bear Stearns, Lehman Brothers and Washington
Mutual, then Secretary of Treasury, Henry Paulson, an insider Wall Street man, who
once ran Goldman Sachs with an Harvard MBA, was either lost or untruthful about
his estimation of how bad the economy was and how terrible a recession, the
country was about to get into. Political expediency or the need to cover up for
the out going Republican Administration may have played into this. But even
before then, there were already noticeable indicators that the booming nation’s
economy was trending to a burst, as the astronomical house prices were falling
like a yo-yo, an indication of how very unstable the economy was and why it is
imperative, that drastic corrective plan, or huge stimulus plan, was imperative
to rebound the economy; or save the economy from completely bottoming out.
Frankly, there are enough blames to go around for both Republicans and
Democrats.
The American Unemployment problem and the lackadaisical
economic performance under President Obama are much more complex than they
appear on the surface. When you try to evaluate all the factors that led to the
economic depression, people tend to quit at the stage of their personal biases,
without looking at the whole picture. The housing burst had complicated an
understanding of all the factors that were in play as the nation’s economy was
at the brink. Because the nation’s housing burst were intertwined with sale of
international economics derivatives, there were some other foreign economic
factors that played into the failure of America’s Economy, vis-à-vis, the
world’s economy. To unravel all the problems that led to the recession and
unemployment problems, one must not ignore what was going on in Europe, the nation’s biggest economic partner. When your
biggest economic partners are having liquidity and banking problems; definitely,
you are likely to feel the pinch or throw back from sliding demand of your
goods and services. Could the Obama’s Administration have corrected for all the
possible external factors that could have impacted or were impacting America’s
economy, during his first term in office or since taking on power? Probably
not, but one thing is clear: The Obama’s Administration was at least proactive
and did all within its power to see that the economy does not go into complete abyss!
What President Obama lacked in the face of the worse
recession in America’s
history, was the support of the legislative branch. The Republicans in congress
saw the shellacking of their party by Obama in 2008 as an affront on the White
race: the unknown, unexpected black man, with rather an unassuming name for an
American, was occupying the highest office in the land! Hate and racism
beclouded reason and many Republican legislators who were about to help out,
were kicked out of office for supporting any reform that could have allowed
jobs to remain, or create new jobs in America. The White oligarchs were
bent on protecting their position at the expense of the middle-income and
ordinary Americans. Those lawmakers that could have ensured that reforms come
quickly, backed off, from supporting legislation that could have turned the
economy around very quickly. This is really the bane of the difficulty and
terrible job market that America
is today experiencing. If all the Republicans had cast off their differences with
Democrats and the first African-American President, we probably would not be in
the bent shape the economy and unemployment are in America. There are other
compounding issues to the current state of the America’s economy, which I would
not like to get into at this time. However, a second term and a more
cooperating legislative body to this administration, is a better choice, than
us going back to the deregulatory policies and supply side economics that
nearly completely destroyed our economy and our people. This is the reason why
voters must retain Obama in office and impinge the character of those
Republicans who have vowed to make Barack Obama, a one-term President.
Apart from the current platform of the 2012 Democratic
Party, including the focus of moving America forward, rebuilding middle class
security, working to make everyone play by the same rules, collaborating to
strengthen America’s communities and building stronger, safe and secure America
at home and abroad, President Obama’s second term must contemplate the
following associated elements as notified by Democrats at their convention:
1) putting America back to work; 2) enhancing the middle class bargain; 3)
cutting waste, reducing deficit, asking all to pay their fair share; 4)
building an economy that last; 5) continued reform of Wall Street; 6)
transparency and accountability in government; 7) political campaign reform; 8)
community building and strengthening; 8) protecting citizens’ rights and
freedom; 9) ensuring safety and quality of life; 10) ending Afghanistan wars
and returning our troops back home; 11)
preventing the spread and use of nuclear weapons; 12) countering emerging
threats to America’s interests; 13) strengthening alliances, expanding
partnerships and revigorating international institutions; 14) promoting global
prosperity and development; 15) maintaining a strong military and advancing
universal values. The point of all these, is to position the nation at the
verge of success from essential reforms and initiatives necessary for a
stronger economy, military might and resources to better the quality of life of
every American.
All the campaign propaganda used by Republicans and those
naysayers regarding the decline of America’s strength must be harnessed to
better our service to America and its citizens, without regard to sex, race,
national origin, disability, color, age or party affiliation. From my perspective, President
Obama deserves a second chance and must be given a second term if we are to
benefit from the foundation of change he has built, despite the obstruction
from Republicans in congress. This proposition may not be shared by many in the
Republican Party; however, the supply-side economics proposed by the Republican
flag bearer, Governor Mitt Romney, will hardily hasten the demise of
unemployment problems in America.
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