The economic agenda Barack Obama faces is a long one. My analysis will focus on both near term and longer term issues Obama is likely to address.
There are four main areas. The first is the near term credit crisis and recession. Second is energy and infrastructure investment. The third is the the health care system. The fourth is re-regulating the financial system. The Obama team recognizes and has discussed the first three, of course. I will explore the likely outcomes, given the various complex factor involved, the new appointees, the political environment and Obama’s own philosophy. The Obama team recognizes the fourth but has not devoted serious attention to it as yet. I will discuss re-regulation, however, including new international regulation.
But I will also argue here that there is much more to do. There is in particular a wage crisis in America and also a family finance crisis. Looming above all is federal finances. Will the federal budget deficit undermine Obama’s broader social and economic strategies as it did with Clinton’s? Are there grounds for optimism? They reside with Obama the man and not his appointees, who are largely centrist and fiscally conservative. After initial political victories, based on Obama’s popularity and the experience and contacts of his staff, the appointees may lead him down wrong and unproductive paths.
There are four main areas. The first is the near term credit crisis and recession. Second is energy and infrastructure investment. The third is the the health care system. The fourth is re-regulating the financial system. The Obama team recognizes and has discussed the first three, of course. I will explore the likely outcomes, given the various complex factor involved, the new appointees, the political environment and Obama’s own philosophy. The Obama team recognizes the fourth but has not devoted serious attention to it as yet. I will discuss re-regulation, however, including new international regulation.
But I will also argue here that there is much more to do. There is in particular a wage crisis in America and also a family finance crisis. Looming above all is federal finances. Will the federal budget deficit undermine Obama’s broader social and economic strategies as it did with Clinton’s? Are there grounds for optimism? They reside with Obama the man and not his appointees, who are largely centrist and fiscally conservative. After initial political victories, based on Obama’s popularity and the experience and contacts of his staff, the appointees may lead him down wrong and unproductive paths.
