USA: President Barack Obama campaigning for a second 4 year term as President of the USA

Le 22 septembre 2011 par IvoireBusines - “Yes We Can”! President Barack Obama’s famous campaign slogan was the foundation of his message that resonated with people throughout the

world. Barack Hussein Obama took the oath of office as the nation’s first African American President on January 20, 2009. The inauguration of the 44th President was seen by people throughout the world, and they chanted “Yes We Can”! It was three simple words that gave people hope, and caused them to be optimistic about a brighter future. Black people all over the world celebrated, and believed that the first African American President would fight for their issues. President Barack Obama came into power with a lot of promises to change things. However, many people throughout the world feel that things have changed for the worse. There are many Polls that reflect that President Barack Obama’s popularity has gone down since his inauguration.

Many people worldwide witnessed on the day of Obama’s inauguration a crisis in the financial system. The Dow Jones Industrial average fell below 8,000 points shedding 4%. NASDAQ and the Standard & Poor’s 500-stock index both plunged more than 5%. Economists have reported that the USA experienced the worst economic recession beginning in 2007, and ending in 2009 as very little progress has been made towards a recovery.
The Census Bureau recently released new figures showing that nearly 1 in 6 Americans lives in poverty. The actual amount is a record of 46.2 Million people. The poverty rate currently at 15.1 percent, and is the highest of any major industrialized nation. It is believed that it could get worse before it subside.
President Obama’s recent jobs package would offer tax cuts for workers and employers by reducing the Social Security payroll tax. There are spending elements that include more money to hire teachers, and rebuild schools. Also it will include money to pay unemployment benefits. Finally, there are tax credits to encourage businesses to hire veterans and the long-term unemployed. The proposal to cover most of the cost which is nearly $400 Billion will come from limiting the deductions on charitable contributions, and other items that wealthy people take advantage of. There is also $40 billion from closing oil and gas loopholes. Finally, there is $18 Billion from hiking taxes on certain income made by Fund Managers, and $3 Billion from changing the tax treatment of corporate jets.

Adina Queen Le Gare
(Deux mains d’un seul Cœur)