Friday, February 13, 2009

Here is the O'conomy, I mean Obama’s Economy..Will it be affordable?

Now it has been decided that new presidential administration will look into every matter & they are currently taking shape. So, We can wait for some changes in US economy & generally it is known as O'conomy, I mean Obama's Economy. So, My questions is will these economy policy be affordable? President Elect Obama has promised:

1. Increased Regulations on Wall Street

2. Health Care for Everyone

3. Increased Taxes on Success

4. Changes in Unionizing Rules

5. 150 Billion for Alternative Energy

6. Save the US Automakers and Union jobs

7. $10 Minimum Wage

Unfortunately, most of the above points are at opposite ends of the spectrum in that they negate the economies of scale that free-enterprise avails. For instance, raising minimum wage causes small businesses to lay off workers. Forcing small businesses to provide health care insurance will cause them to hire only part-time workers and let workers go.

Unemployment is in the top level in US & most of the people will go for Government assistance & also businesses are running poorly there will be lower tax revenues to the government. In this situation the government will have to either borrow or increase taxes to pay their obligations to the people. But if the government will increase the taxes it will hamper the standard way of living in US as well as it will slow the small businesses growth, often causing more small business failures. This in turn reduces retail sales, travel and so many other industries.

But the conclusion is that the political war is over & this is the time to face the reality. The objectives and promises of the Obama Campaign are not feasible or advisable if we are to get this nation's economy firing on all cylinders again. Finally we need to keep one thing in our mind that if we will fail to fulfill these then the whole world will suffer because we all are globally connected. So, We need to be very careful regarding this.

If you need more information or posts regarding this matter. Please visit different article submission sites because somehow i also got some important points from those sites.

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