George at Studio 2GLF 89.3 fm

George at Studio 2GLF 89.3 fm
Broadcasting Emission Kontak

Monday, 12 November 2012

Obama winner or loser ?

A win for Obama or a lost for Romney ? by gdl.

While 50.2 percent of Americans rejoicing of the reelection of Barak Obama, there are still 49.8 percent of Americans who think that Obama' first term as President of the USA was a failure.
Those who disapproved Obama's social, economic domestic policies, as well as his military and foreign policies, are said to be more on the conservative side, or coming from the conservative states.
These so called conservatives, accepted the Mitt Romney's policies no matter how controversial they are seen by the other side. Romney's voters are categorised to be from the right ( traditional Republicans) and from the far right( followers of the Tea Party). They reject social policies like the rights of marriage to gays and lesbians, are anti-abortionists and more inward looking. They opine that America should lead the world (unipolar) and confrontation with the Arab world (an open war with Iran for example) and accusing China of currency manipulation are good policies!!!
Obama's first term has not been overwhelmingly good. America has a deficit of $16 trillion dollars and an unemployment rate is nearly eight percent. There is a looming  "fiscal cliff" of $600 billion to face on the 1 January of 2013. However, Obama ended the war in Iraq, withdrawing the troops from Afghanistan and killed Osama Bin Laden, are the positive highlights of his first term. He  has also managed quite well the Global Financial Crisis and there are ominous signs that the America's economy is recovering, although still very ailing.
The results from these elections show that the USA is divided into 2 blocks. On one side the progressists, and on the other the conservatives. The victory at the electoral colleges,( state based) means nothing besides the popular vote. The popular vote is the real reflection of the Americans' mood in terms of real democracy.
Obama knows that he has 49.8 percent of Americans watching, and expecting him to fall and fail. But,  as he will not be standing for elections again, he has nothing to lose in opening up and compromise with the Senate and House of reps to overcome the "fiscal cliff" on one side, and bring down the deficit to a reasonable level on the other. These are  the real challenges for Obama and his team. The "reasonable" budget deficit acceptable by the IMF is normally three percent of GDP while America's deficit is nor more than 50 percent of its GDP, actaully 84 percent !!!! .
Surely, this is a mammoth job for the Democrats, let alone unachievable by the Obama's administration in the next forr years. It is virtually impossible for them to even balance the budget in the next for years. Again the legacy of Barak Obama, when he will definitely leave office, will not be bright in this field and will leave Hillary Clinton, (who is poised to be the next Democrate candidate to the Presidency ) to " please explain ".
But so what the USA have always lived the deficit anyway...


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