Obama’s economic policy
President Obama’s economic policy was crafted to deal with the economic crisis in the country. He has tried to normalize the situation he inherited. He has discussed with the banking sector, the possibilities of introducing new banking policies which will benefit the customer. A very important part of his economic policy is to make relations with other countries broad-based to include business and trade. Development and growth have not been even in recent times, but the policies are all being geared to strengthen productivity and growth.
There is a stress on equality in financial access. Reforms are being worked out to ensure better health care. The new economic policy is seeking to lower the rate of unemployment. It is hoped that the per capita gross domestic product will grow. There is research and growth in the fields of aerospace and computers. Through these times of economic recession, the President is trying to steer the country to normalcy by launching many domestic economic initiatives. He feels that economic recession is slowing down, and noted that the number of job losses in the current fiscal quarter averaged 400,000 a month as compared with 700,000 a month in the previous quarter.
The economic bubble was and is like a national and international Ponzi scheme (because it was based on the artificial and manipulation) created by government and politicians meddling, They don’t have a clue about business or economics,don’t have monetary/budget limits and care more about their special interests. Some meddling was due to good intentions, but the results were horrible for even the original people they were trying to help.