|
The Tumultuous Era in US Economy and
Presidential Election
24.5.2012
By Omar Sindi
—
Special to
Ekurd.net |
|
|
|
May 24, 2012
In the near term, the outlook of the U.S. economy’s
recovery looks grim. In the long term, the outlook
of the economy looks grim. It’s so uncertain that it
might take a decade before any president of either
party or ideology can count on a claim of credit for
a fixed economy. Recent polls show that President
Obama has a slim lead ahead of the presumptive
Republican nominee, Mitt Romney. However, if Obama
loses in November, the ultimate factor should not be
Romney because he (Romney) has not offered any cure
or economic policy agenda for the near term solution
nor long term fix, other than his campaigning
slogans blaming all economic ills on Obama‘s policy.
In fact, the United States economy was in deep
trouble before Obama and his team before entering
into White House. In addition, that the President
Obama ‘s recent revealing support, for gay marriages
could further delineate support from conservative
groups, especially religious sects, Catholics,
Protestant, Muslims, etc.; however, on the other
hand it might also motivate and transpire more
liberal minded people to vote for President Obama on
election day .
The winter's confident signs of outlook of recovery
have decapitated away to spring uncertain. A See
Saw- weekly unemployment claims has risen again and
housing starts have diminished. The outlook of a new
European recession may be threatening to suffocate
U.S. exports and jeopardize the Worlds finance.
However, it is the reason behind past economic
trouble news, indeed threaten Obama‘s chance of
re-election and wish a risk Romney‘s in 2016, if he
unseat Obama this fall. It looks like the U.S.
economy will not generate enough jobs or prosperity
that a president or a party can claim credit.
Regard of the housing market: The difficulty is not
just over 10 million people homeowners owe more on
their homes than those homes are worth of. In
addition, housing outlook forecast sales remain very
sluggish, because many buyers do not have enough
cash for a down payment or do not qualify for a new
loan term, under a new regulation set up by the
Federal government. Even though, the interstate
rates as low as it can be.
That what befalls, when United States incomes fall
and they have persisted to do despite in the midst
of U.S. outlook semi- recovery.
The slow down or decrease in wages is partly due to
U.S. multinational corporation, which have in past
helped to create jobs, with high pay.
Now these corporations are hiring abroad or moving
over sea for a much cheaper work force. Some time
ago, Commerce Department data showed that U.S.
multinationals raised a little bet domestic
workforce by a few percentage during 2011, while
they raised oversea workforce, with much higher
percentage point. Many of those companies previously
were based in United States.
With off shoring comes lower wages for American
workforce, whose jobs may be transferred to where
cheaper labor forces are more available.
The current consistency decline wages in American
manufacturer jobs, perhaps slow recovery. For
example, in United States the average manufacturer
hourly rate is above $20. while in China and India
with the same work, may be below $5.00 an hourly
rates, probably with no benefits. Now booing
company, has announced will help to train Chinese
workforce to built the Commercial Airline, that will
take another chunk of very sensitive American jobs
.Transferring American Technology to oversea will
cause more American to join unemployment line,www.ekurd.net
then more people will not be able to buy the house
or a car, perhaps a college tuition for their kids
education. “Little over month ago New York Time
poll, which showed Obama and Romney at even
percentage points, many respondents were worried
about the status of U.S. economy and their
offspring’s economic well being.
In this century, the only U.S. economy can
simultaneously afford two wars for more than a
decade at the same time; this war has cost U.S.
taxpayer more than two-trillions, + U.S. $ dollars,
Iraq and Afghanistan. The Iraq war intention at
least on surface, was overthrew the entrenched a
dictatorial system, to replace with a new world
order, with a democratic system; all pundits agreed
that did not happen yet and Iraqi Prime Minister
Nuri al- Maliki is trying to consolidate power, to
go to a mono- rule, despite U.S. ambassador James
Jeffery claimed on one of his interview with the
Arabic Magazine said, U.S. left behind a young
democracy in Iraq. Afghanistan’s war, if history is
any lesson to be learned neither British nor former
Soviet Union succeeded previously. The current war
led by the U.S. in Afghanistan, the outlook does not
look promising either and U.S.
taxpayer keep funding on going conflict.
No signs that Romney’s enroll suggests he wish
defiance these course.
To extending worker power to reinstate the share of
corporate revenue that used to be to go to wages, or
using the government ’s power to help build domestic
industry, his tax proposal call for lowering taxes
on the wealthy, his philosophy lowering taxes on
rich people ,will create jobs in the United States.
But President Obama has been trying to blame
economic ill on his predecessor, said when he took
the presidency, the U.S. economy was overly
exhausted.
Late President Ronald Reagan was reelected second
term, he convinced majority of American people that
his policy is based on a good economic forecast. And
Former President Bill Clinton elected on second term
based a strong U.S. economy and Clinton was one of
those president, which the U.S. economy had
projected surplus.
Omar Sindi - United States, a regular
contributing writer and columnist for Ekurd.net
Copyright © 2012 ekurd.net. All rights reserved
Top |
The opinions
expressed in this commentary are solely those of the
author
|
®
