So here it is. We are less than one month away from having an African American president. During Obama’s entire campaign, he told us that he will bring about change. Obama has become an icon for change by giving much of this country hope for the potential this country has for everyone. So I suppose it is only fair to ask what change will we likely see…if any?
To see whether Obama is about change, let us take a look at his newly appointed inner cabinet. Many of the members that Obama chose to be around him are former Clinton advisors including Rahm Emanuel, Bill Richardson, and Paul Volcker.
In respect to the economy, Obama wants to increase taxes, create more regulation, as well as bailout failing businesses. I do not agree with any of those proposals. Raising taxes during an economic crisis is change, but in the wrong direction. More regulation is not needed. What is needed is a complete overhaul of the SEC. The SEC is the problem when it comes to “regulating the market.” Bailing out failing businesses is useless. The tarp money that was issued to the financials was originally stated, by Paulson, to buy out bad mortgage assets at a premium rate. A month after that was said he comes out and completely changes the tarp’s purpose. Also, these companies use the tarp money to basically pay the executives their bonuses and vacation day spa’s (AIG).
Obama is the first African American president and that is change. We will have to see what Obama does in his first 6 months in office to see whether or not real change is coming in this country. I have high hopes for this administration when it comes to the progression of alternative energy as well as the progression of science. Both of which I feel has been stunted in the last 8 years by the Bush administration.
From what I have been observing and the people Obama is surrounding himself with, I feel that this administration can be named Clinton 3.0. Hopefully Obama will take the reigns on many of these issues and really do something new. Or hopefully these Clintonites will have something new to offer in this day and age. Ultimately it all comes down to hope, and I hope our president-elect keeps to his word and things change.
Filed under: Finance, Politics , Barack Obama, Change, Politics
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