President Obama: Manager of the Economy

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Table of Contents

The United States President Obama second term which started January 2013
His role as the manager of the economy
What he had accomplished
What he is working to accomplish in the role in his second term
Bibliography
Footnotes

The United States President Obama second term which started January 2013

The United States president Barrack Obama was sworn in for second term on 20 January the year 2013. There was a ceremony for all people before the president could begin his duties during the second term in office.

The theme of the occasion was having faith in the future of America and uniting people from all races without favor or discrimination. According to the speech of president Obama, God gives freedom and it is the responsibility of people to secure it all the time. ¹There were laws for combating climate change, reforms of immigrations as well as controlling guns.

The president said that human rights are very important and there should be no discrimination based on gender or race. Promotion of democracy should be considered where the poor need to be assured that there is hope as well as taking care of the sick people. The president said that the existing alliances would remain strong; there would be recovery of the economy and end war so that the world may remain peaceful.

The preservation of freedom of individuals involves collective action. The president said that the decision was upon the people of the United States and they could not delay. This was the right time for action without engaging in politics that were not beneficial. The people of America are supposed to be treated equally in order to ensure that they work together for the success of the whole nation.

The journey could not be completed if the law ignored the gay brothers as well as sisters. The president said that there was inequality of wealth where some people are rich while others struggle to make it in life. ²The children who are born in poor families should have equal chance to succeed like any other child.

His role as the manager of the economy

President Obama is the leader who is concerned with unemployment, making profit by businesspersons and an economic adviser. His main aim is to ensure that the country is running so that it can prosper now and in future. When many citizens of America lost jobs, Obama tried to get solution in order to save them from poverty where he proposed credits on tax to companies that were willing to provide employment to the United States citizens.

This made the country have large amount of debt and tax cuts were pulled for more than sixty million people who were billionaires to increase the money they pay so that the economy can have balanced rate. ³President Obama wanted to take care of people who were not employed during the time they lost jobs so that they do not suffer because of poverty.

President Obama is credited for managing the economy because of his realization that the taxable amount should depend on the amount of income of the individuals. The people with ability to pay should pay more and those who are not able to pay should pay less so that everybody is equal. He extended the unemployment period so that those who were not employed could get job of their choice according to the qualifications. President Obama advocates free market, which is dynamic so that the economy is secure through innovation.

President Obama ensures that employees have a choice to act freely where there is a bill with penalties in case of violations of labor. There was minimum wage for employees depending on the number of hours worked so that the salary and wages paid were according to the amount of work done.

The president favored equal pay for all gender where the act of equal payment was improved. The private schools were not allowed to undermine public schools where he offered funding to students who completed high school. The teachers pay was increased in order to motivate them to offer quality education to all students. ⁴President Obama proposed decrease in oil consumption in the United States of America in order to reduce imports and encourage alternative sources of energy.

What he had accomplished

President Barak Obama phased out all weapons that were outdated and brought other weapons to end fraud. The economy improved under the leadership of president Obama through a recovery program and taxpayers were able to know how the taxes were utilized after collection. ⁵The recession period made more than 800,000 people loose jobs when President Obama came to power but after one year more than 2.1 million people were employed, which led to economic growth.

President Obama managed to complete the rescue plan for banks and recovered money that had been lost. He made houses affordable through the plan for refinancing where the United States Citizens owned houses that they were able to pay with the disposable income. He came up with means of detecting fraud through investigation by the federal government where all those involved in fraud were prosecuted.

The financial systems were protected from loss of funds, which prevented economic meltdown in all sectors of the economy. The amount of money spent in infrastructure was increased after it had been neglected for many years.⁶ The recovery program led to employment of more than 300,000 people in the education system that would have lacked job opportunities.

What he is working to accomplish in the role in his second term

President Obama believe that United States of America will Prosper and have freedom through collective action. The debt ceiling should not be affected by politics so that economic growth can be achieved. Tax policies will be implemented to solve the problem of income inequality where the wealthiest people in the society will pay more taxes.

The people should come up with new ways of overcoming the new challenges that arise in order to preserve the freedom of all individuals. The people of the United States of America should come together to improve the quality of education, build better roads, train workers as well as provide security all the time.

President Obama said that there could not be division of people who had different interests as well as opposing views. The people of America should enjoy freedom all the time regardless of their wealth or social status. The change in climate, which is a major threat in the nation, is addressed as well as ensuring the sources of energy are sustainable.

The United States of America will find solution to the differences it has with neighboring nations in order to maintain peace, love and unity among all citizens. ⁷America will continue to form alliances with other nations and have institutions that will ensure that there is solution to the crisis in order to remain peaceful.

Bibliography

Blinder, Alan. After the Music Stopped. The Financial Crisis, the Response and the Work Ahead. New York: The Penguin Press, 2013.

Carroll, Richard. The President as Economist. Scoring Economic Performance from Harry Truman to Barrack Obama. New York: Amazon, 2012.

Daron, Acemoglu, and Robinson James. Why Nations Fail. The Origins of Power, Prosperity, and Poverty. New York: Paperback, 2013.

Folven, Edwin. 2012 Campaign Barrels through L.A. Parke: Beverly Press, 2011.

Rasmus, Jack. Obama’s Economy. Recovery for the Few. New York: Paperback, 2012.

Shear, Micheal. Obama Launches Re-Election Facing New Political Challenge. United States: The New York Times, 2011.

Stockman, David. The Great Deformation. The Corruption of Capitalism in America. Massachusetts: Harvard University Press, 2013.

Footnotes

11. Shear, Micheal. Obama Launches Re-Election Facing New Political Challenge (United States: The New York Times, 2011), 24.

22. Blinder, Alan. After the Music Stopped. The Financial Crisis, the Response and the Work Ahead (New York: The Penguin Press, 2013), 53.

33. Folven, Edwin. 2012 Campaign Barrels through L.A (Parke: Beverly Press, 2011), 13.

44. Rasmus, Jack. Obama’s Economy. Recovery for the Few (New York: Paperback, 2012), 37.

55. Stockman, David. The Great Deformation. The Corruption of Capitalism in Americ (Massachusetts: Harvard University Press, 2013), 43.

66. Daron, Acemoglu, and Robinson James. Why Nations Fail. The Origins of Power, Prosperity, and Poverty (New York: Paperback, 2013), 22.

77. Carroll, Richard. The President as Economist. Scoring Economic Performance from Harry Truman to Barrack Obama (New York: Amazon, 2012), 17.

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