bush debt ceiling

President Obama: Questions and answers clear and hard

In the last election has made some interesting changes in the United States. Could he said that "change" that some of us have been looking for. The question now is "What seems to change?" and how to move forward.

problems Legacy of President-elect Barack Obama are growing day by day. Today brings a rescue plan that is close to almost 5 billion dollars due to a bait that has been approved by both elected parties.The automaker is on the verge of collapse, with American Express. All this comes before the holiday season, reports and details sad that the point of view (Of course, all this is excellent news in terms of Wal-Mart).

These are challenges that hope is not enough to solve. We look at the impending collapse of global financial system. The fate of the world rests in the United State's ability to repay debt. If the defaults States Together with a Treasury bill that it now holds, then we will see the world's economies crumble in a few hours.

This time, China is carried out between 600 million and $ 1.3 billion in government bonds, the Treasury held that the reports you want to believe. Japan has the right to approximately $ 700 million. bonds. Our rating credit as a nation is about to lose its "AAA" best of the best.

What does this mean? President Obama will lead a rapidly deteriorating economy, fiscal policy restricting free trade, almost all means of debt relief by reducing tariffs import, etc.

Shall cease to be engaged with the rest of the world rather quickly.In fact it is putting in place the pieces that will make it even when George W. morehated Bush. How? Well, Obama is heavily indebted to vote Labour, on the basis of his strong campaign for the American-based manufacturing. This includes up keepingin generous pensions, wages and health plans for mining and automotive. You can not go back on his promises and without a serious reaction.

Internationally, Rahm Emanuel has been recruited as his chief of staff. Although mostknow him as a democratic citizen, elbows pointed, the internationalcommunity know another way, an ardent Zionist. With the nation of Israel increasinglybecoming a thorn in Europe, Russia and Africa side, thought of a former member of the boards IDF President Obama is sure to cause severe discomfort in U.S. foreign policy, particularly within the coalition of Arab countries. Do not forget of the current situation in Iraq, Afghanistan and other challenges that might occur.

From an environmental perspective, the challenges are even more pronounced. How Obama climate policy balance between aggressively change the face of rising costs ofimplementing these regulations? The bureaucracy needed to manage a major effort would be incredible. Forget not, so clean, new policies will cost more. The so-called "cap and trade" schemes will be responsible Business travel on what the Government considers appropriate. Although this will be an additional revenue system, it is likely that the money be used to pay debt Rather than financing cleaner technologies. Will he be forced to delay or abandon a complete face a real recession?

One of the problems Obama is facing is the direction to take with the financial markets. Stricter regulation is a fact, but what about the increase in capital gains it has promised? He is walking a tightrope here, as most people take profits (if any) before the Obama administration may increase the rate of 15 to 30 percent. If it fails, then by virtue of the fact that no rate hike is considered as a continuation of George Bush policy.

Similarly, Barack and Co. will be in regular income tax? The ceiling was reduced from $ 250,000 to an official figure of 200,000, Joe Biden speak at a time to a maximum of $ 150,000 for those who can not wait for tax increases. The exact number has not yet been appointed. Some say that this level be reduced $ 100,000 or maybe more. From John McCain and Barack Obama has proposed the addition of two billion more in spending above our current level is almost obvious that the tax cuts are not in the cards. In fact, a large increase in the rate would be necessary to compensate for our short-term debt, the policy does not mention that have seen the light of day yet.

I wish President Obama's success to these challenges, they are certainly myriad.His fate and mine are perfectly interwoven.As Americans, our national wealth increase or decrease depending on their management. Questions remain, but we hope the answers will be clear and correct, when President Obama is called to respond.

About the Author

Kurt Hartman is Head of Employee Training at Mobile Fleet Service, Inc. They sell tires to the mining, construction, and heavy equipment industries. You can find news, commentary, and
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