Archive for the ‘obama bailout plan’ Category

It was bound to happen sooner or later.  Ever since he revealed his blueprint for the economic recovery of the United States, packaged in the much talked about “Obama bailout plan”, President Barack Obama has lived under intense scrutiny, with the better part of the United States placing all of his actions under a collective microscope of sorts, dissecting them and examining which actions contribute to the supposed plan to bail out the United States from the economic stupor it is currently in.  It turns out that this scrutiny is also not the quiet type, since people would really rather crucify politicians publicly than praise them for their efforts on something they promised they would do, and are trying their best to do, in the face of all adversity.  While many would say, “hey, tough, but that’s what they’re paid to do”, it should still be a point of consideration that some of these politicians really are trying their best to make good on the promises that they made, and perhaps the best example of this is President Barack Obama.  In the face of all criticisms, he is still very much into doing what he promised to do: get the American economy back on track.  No small feat, no matter how you look at it, so it really is no surprise to hear that he has finally decided to hit back his detractors and have a say in the matter.

The president has finally responded to the growing criticism he has been receiving regarding the stimulus package he has been pushing for in Congress.  The president went on to say that just like all solutions, his offered solution will take some time to take effect, and n the face of all the criticism that he has been receiving from his detractors, a single one of them has yet to offer a plausible alternative to the solutions that he has offered to the nation.  The critisim has been steadily growing amidst an equally steadily growing number of job losses in the United States, primarily the result of the economic crunch that the United States is experiencing, as with most economies all over the globe.  Detractors are quick to point out that one part of the promise of the Obama administration was that unemployment would stay well below 8 percent.  A new announcement from the same administration, however, has warned the public to brace for a spike in unemployment, well beyond the 10 percent mark.  This warning has apparently caused more detractors to verbalize their disbelief of all that was promised in the Obama bailout plan.

While the intelligent thing to do would be to wait and see how it turns out, since there really isn’t anything anybody can do about it, the question remains:  when are we really going to get out of the rut that we are in right now?  And is the Obama bailout the solution to it all?  We have yet to see.

The Associated Press reports that U.S. President Barack Obama has once again met and convened with business leaders at the White House recently to tackle the issue of creating new jobs on the face of the surrent economic downtrend, all still part of the famed Obama Bailout plan.  While sources say that at best, the entire event had all the timmings and trappins of a typical and traditional political campaign, President Obama was all humanitarian and public servant about the entire issue.  He was, however, quick to dismiss the critics who maintain that the entire matter is just simply too complex and is not really quite as solvable as the president puts it.  The president has also addressed the issue regarding the health care debate, saying that the current economy is really not likely to get back on its feet if no one cares to do something about the “crushing cost of health care” today.

The president’s discussion with the CEOs of some of the leading energy companies in the United States were mostly made up of talks on how to produce new methods of producing energy, and at the same time save it and distribute it more efficiently and at a more cost-productive manner.  The plan also needed to draw up ways to produce unique opportunities to create millions of jobs for job seekers in the U.S.  To give people an idea of just how much more jobs are needed, in the month of June alone, at least 467,000 jobs were lost, although this figure is still seen as comparatively better, with only 4,000 jobs lost every month, compared to at least 700,000 lost every month in the previous quarter.  As part of the contingency measure outlined in the Obama bailout plan, the Obama administration has taken extraordinary measure to somewhat buffer the impact of the worst recession to hit the United States and the better part of the financial world since the financial meltdown of the 1930s.  The Obama administration says it is also keen on extending aid to those who have been hit hardest by the economic turmoil.

Having said all of these, the question remains: has the great Obama Bailout finally gathered enough momentum to actually make a dent in the suffering U.S. Economy?  Or are we all just clutching at straws hoping that the heavens will rain down a real and lasting solution to all our economic woes?  At this point, it remains to be anyone’s guess.