President Obama is fighting against unemployment

When Obama was a candidate for the presidential elections in 2008 he spoke eloquently telling the people that his top priority would “the people’s business”.

The people were concerned at that time about their jobs; jobs continue to be their main concern today also.

The economy is failing to give the opportunity for them to realize the great American dream – the dream that made it into a mighty nation. The economy was open giving chances to the meritorious.

Once upon a time each citizen irrespective of ethnicity, and social status, and political beliefs could hope to climb up the ladder. One could hope to purse education beyond high school, own a car and a house. With hard honest work it could be achieved by anyone.

But today the middle class of yesterday have gone down the ladder because their jobs have been given away to places where labour costs are low. Too many have been harmed by the gluttony of mega financial banks and other entities who were allowed to run wild without leashes. None of those who steered them and the country in to the mess have been hauled up for fraud.

The financial bigwigs overreached themselves. It led to the breeding of a climate of distrust that caused the excessive valuing of financial tools known as derivatives. But to save the internal and international financial system the leaders of the country gave the green signal to staggering bailouts which worked fine for those sitting on wealth, power and perquisites.

But it did nothing for the man in the streets who cannot find work or to dream about improving their life style; rather it is sliding down. The elderly who are dependent on fixed retirement earnings are seeing the value of their annuities declining. Millions have been impacted by this.

Barack Obama as President had little choice but had to tackle this international financial crisis as well as continue with the two wars that had been started by the previous government. The Republicans had plunged into it without thinking how it would be financed and sustained. It is leading to the increasing of the financial debt. Today the budget deficit has broken historical records.

The criticism is that the Obama team instead of dealing with the problems of the people is focusing on total health care plans at all levels. The foreclosures are out there hitting hard.

The anger of the people was reflected in the election of a Republican candidate, Scott Brown, from a Democrat stronghold, in Massachusetts. That one single vote means the Democrats lack the 60 votes they require to push through legislation without opposition. Things are poised for a deadlock.

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