Since this will be my final passion blog post for the class, I wanted to just write about my general thoughts concerning what I think will most likely happen between now and November, when the general election is set to take place.
Ultimately, I think that President Obama will be re-elected for another 4 more years in office. While his first term has certainly not been without speed-bumps, on the whole I think he has done as good a job as could be expected with the situation he was dealt when he entered office. He passed a major health-care overhaul (the Patient Protection and Affordable Care Act), a lengthy financial regulation law (the Dodd-Frank Act), bailed out several major players in the financial and automotive industries (TARP), and ordered the mission that killed the world's most wanted terrorist (Osama Bin Laden). Under most circumstances, I think President Obama would be more of a shoo-in for a second term, but the economic recovery, the main concern of voters the past 4 years, has been tepid at best. Unemployment is lower than it has been in years, but 8.2% is still far too high. In my opinion, the President's inability to seriously tackle the nation's debt crisis and put the nation on a more sustainable fiscal path has been his biggest disappointment. Hopefully, if he is reelected, he will be able to have enough political capital to make the very hard and painful decisions that are sure to come with a reduction in spending, a rise in taxes, and a large restructuring of entitlements.
Former Governor of Massachusetts Mitt Romney is very qualified to run for public office. As an executive in both the private and public sectors, he has the experience and management skills that he says will pull the nation out of its dire fiscal straits. Unfortunately for him, I don't think that the President has all that much power over how good or bad the economy does. I would think Ben Bernanke (Chairman of the Federal Reserve) has more direct power over it. Gov. Romney's solution of cutting spending to get the nation out of debt also strike's me as irresponsible, especially with the unemployment rate as high as it is.
Ultimately, I think that President Obama will be re-elected for another 4 more years in office. While his first term has certainly not been without speed-bumps, on the whole I think he has done as good a job as could be expected with the situation he was dealt when he entered office. He passed a major health-care overhaul (the Patient Protection and Affordable Care Act), a lengthy financial regulation law (the Dodd-Frank Act), bailed out several major players in the financial and automotive industries (TARP), and ordered the mission that killed the world's most wanted terrorist (Osama Bin Laden). Under most circumstances, I think President Obama would be more of a shoo-in for a second term, but the economic recovery, the main concern of voters the past 4 years, has been tepid at best. Unemployment is lower than it has been in years, but 8.2% is still far too high. In my opinion, the President's inability to seriously tackle the nation's debt crisis and put the nation on a more sustainable fiscal path has been his biggest disappointment. Hopefully, if he is reelected, he will be able to have enough political capital to make the very hard and painful decisions that are sure to come with a reduction in spending, a rise in taxes, and a large restructuring of entitlements.
Former Governor of Massachusetts Mitt Romney is very qualified to run for public office. As an executive in both the private and public sectors, he has the experience and management skills that he says will pull the nation out of its dire fiscal straits. Unfortunately for him, I don't think that the President has all that much power over how good or bad the economy does. I would think Ben Bernanke (Chairman of the Federal Reserve) has more direct power over it. Gov. Romney's solution of cutting spending to get the nation out of debt also strike's me as irresponsible, especially with the unemployment rate as high as it is.