Finally, we have a black president. History has been made. A racial boundary has been trounced. But now what is in store for the United States? What will he do for the United States? What can he do for the United States? Is it possible to rebuild the once mighty U. S. economy? Well, with the guidance and intelligence of our vibrant, young president, things are bound to get better, or are they?
Capital Hill insiders reported that it is likely Obama will move quickly to name Cabinet nominees so that they can move through the Senate confirmation process quickly and hit the ground running in January. He has already selected Treasury Secretary: Timothy Geithner, Secretary of State: Sen. Hillary Rodham Clinton, Attorney General: Eric Holder, Defense Secretary: Robert Gates, Homeland Security Secretary: Gov. Janet Napolitano, National Security Advisor: Retired Marine Gen. James Jones, Commerce Secretary: Gov. Bill Richardson, National Economic Counsel Director: Lawrence Summers, and Office of Management and Budget Director: Peter Orszag. With this cabinet Barack Obama announced, "I've got an economic plan that is similar to Bill Clinton's." Obama is implying that his tax policy will be as prosperous
as the Clinton policy when, in truth, the economic environment bequeathed to Bill Clinton was totally different from today's economy. Obama wants to avoid the experience of President Bill Clinton, who waited until relatively late in his transition period to fill Cabinet posts.
While wages remain flat, the costs of basic necessities are increasing. U.S. consumers are being forced to scale back their purchases, are keeping their overall purchases rising at a reasonably strong rate. From the price of food to medicine, the necessities have gone from easy-on-the-pocket to pocket-emptying. If Mr. Obama is obliged to taxpayer-funded, government-designed highway and energy pork projects, he has gone hog-wild over "refundable tax credits," which is the polite description of...