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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.

The entire point of the Obama bailout plan was to revive the US economy from the massive slump it is currently in. This necessarily entailed taking steps to ensure that the greenback stayed well within the country, as opposed to the huge trend that characterized the period just before the recession: huge outsourcing contracts. The huge trend in outsourcing provided American companies with a vast opportunity to contract various services for almost a fraction of the amount they would normally spend if they had the service done locally. The premise of outsourcing also presented a self-contained manpower solution to the companies that largely outsourced their manpower needs to other countries; American companies didn’t have to devote time to seeking and building a workforce, maintaining back operations, and handling other internal necessities of a company. Outsourcing companies largely packaged their business solutions as a complete and full service manpower and staffing business where they would provide the American companies with people who are already trained and ready to work at a moment’s notice, since outsourcing companies also included product training during the orientation of the people they hired. The large outsourcing trend, however, meant even less jobs for more Americans, and this is on top of an already growing unemployment and underemployment problem in the US. The outsourcing trend also meant more US dollars were going out of the country, and in an economy that was less than a hundred percent stable, this is an unwanted thing.

President Barack Obama now seeks to turn this around by taking away all the incentives initially offered to companies that outsourced, and giving the incentives instead to companies that employed people within the US. This is actually part of the major changes the president had explained while delivering his speech on the Obama bailout plan, saying this is a move to start repairing the damage to the US economy. Offering incentives to companies that prefer to hire within the US rather than outside of the country is definitely a deterrent to companies that are looking to heavily conduct their operations offshore, and may very well prompt them to hire from within the US instead, thus opening more work opportunities for undemployed and underemployed Americans everywhere. This may be quite a problematic development for a lot of people that were outsourced for American companies, since this will definitely mean that they will soon be seeking employment elsewhere, and there is also a good chance that this would mean the closing of many outsourced companies on foreign soil, although the entire point may be moot, since the global economic pinch that swept across the greater part of the world pretty much did that already. The recession has claimed the lives of a countless businesses everywhere, with corporations closing their doors and leaving countless millions unemployed. While this may not be the true goal of the Obama bailout, it is a natural consequence of the move.

There are those, however, that believe that an improvement in the US economy is bound to benefit everyone, because the US economy is inextricably tied in the with global economy. Hence, if all American companies subscribe to the incentive of the president to pull their offshore operations and simply continue operations on US soil, the countries where they pulled out their businesses may suffer significantly for a time, but may very well benefit from an improved global economy once more. This, however, is one big “if”. There is absolutely no guarantee that this is indeed the way things go. At best, all everyone can do is cross their fingers and hope for the best and pray that the obama bailout does wonders for the economy, without having to sacrifice significantly.