The Government which promised ‘Change’ and ‘Hope’

The Obama led Democratic Party raised concern over the issues that led to the economic meltdown and the aftermath of recession. Stagnant salaries, unemployment issues and financial meltdown scenario propelled Obama to victory.

After being proclaimed as the first African American to be elected as the President in the history of America, the time has come to answer the demands and election manifestos.

State of Affairs and the Impact of Obamanomics:

Obamanomics or Barrack Obama’s speech on economic program was rather blatant, focused clearly towards middle class or the so called working class Americans. It carried an agenda of taxing the rich all the more and less for the rest, expenditure on infrastructure to boost the economy, tax exemptions and rebates for the needy and those who are badly hit due to recession and finally a check on high finance.

Keeping the state of financial condition in the US it is either increase in taxes or reduction in expenditure that can help run the economy, which is in sharp contrast to the President’s agenda.

Given the condition the action is simple and clear, it is bailing out and saving our economy from dooms day. And more plans to follow. More to the news is that Barrack Obama is the first American President who has come to power, with very less or no commitment to corporate interest group.

Reduction is taxes have been in addition to the energy rebate. Obama proposes a new college tax credit of $4000, as a result providing free education for Americans studying in Community Colleges. The effect on the tuition fee structure is certainly beneficial. Obama’s proposal includes funding for those colleges and to the victims of dwindling state funding. In addition to which he has stated a long list of measures to ease the pressure on the middle class namely, health plan cover for the uninsured, a retirement plan with automatic pension schemes, unemployment insurance and heavy investment on infrastructural projects for the benefit of the citizens.

How do you see Obamanomics?

People have interpreted President’s speech in number of way, some think it means more taxes on the way while many are optimist about tax credit funding for students. So what is your view on the impact of Obamanomics on the Student Community?