Obama Bailout: Still trying to gather momentum?
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.