Sunday, 7 June 2009
Obama's Challenge
After I read The Economy is Still at the Brink, an op-ed article written by a couple of ex-workers of Wall Street (Sandy Lewis and William Cohen), I realized that even though the United States and world's financial crisis is not because of Obama's financial policies, he faces the challenge of being forced to restore the economy to how it was before he became president, because otherwise his name will be remembered as the president who crashed the US's economy. That's just about everything the American people are expecting him to do with his presidential period, and if he doesn't manage to do it, the once extremely popular president may be stigmatized as one of the worst presidents in history, not because he really is bad, but because he happened to have the misfortune of ruling during this period of time, just like George Bush had the misfortune of ruling during the World Trade Center attacks, which forced him to invade Iraq and earned him an image of a "war-hungry" president. Obama has clearly shown the world that his economic policies to get the United States out of the crisis are working up to now, but some people, like Lewis and Cohen, are still saying that he's doing a bad job, even though the stock market has still stabilized. I think and have heard that the worst part of the crisis has already passed, and that now it's just going to get better, and although I do not think that Obama will be able to completely fix this mess in four years only, I think he will give the economy the push to recovery so that it will fullfill its recovery after Obama's ruling period. Although he faces a huge challenge, he could also be remembered as the president who saved the US from the 2008's great recession. As they say, "A crisis can also be the moment of greatest opportunity".
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