By Aditya Thakur:
When Obama became the first African-American President of the U.S. in 2008, it was a monumental moment in the history of the world. That moment made promises on behalf of the Obama regime which haven’t been fulfilled. Promises of change in the fundamental ways things were done in American politics have turned out to be nothing but empty words.
The problems faced by the Obama regime are multifaceted. While he faces scrutiny over ignorant remarks about the private sector, and national security leaks, the inability to build a coordinated team for economic policymaking and a proper representative to send out a message to the country, is going to be the biggest blow to his chances in the upcoming elections. The euro crisis can hurt both U.S. and global markets and in such a time of deepening financial emergency, the absence of Obama’s Treasury Secretary Tim Geithner, has been his biggest problem when it comes down to a second term re-election.
But these problems will need to be addressed if there is a second term for Obama. Right now Obama needs policy ideas that are bold and creative and that will provide his supporters with the gumption boost they so badly need. America is on the verge of a period of great growth based on three facts: the recent boom in U.S. oil and natural gas production; intellectual capital that will lead the world into the third big industrial revolution; and a low price of dollar that will help in infrastructure investments. Obama needs to recognise this opportunity and he needs to create a vision of an American rebirth story with some policies that will set the fiscal priorities straight and differentiate between spending and investing, fix the tax code, reduce inequality and increase social unity and basically rekindle the American dream.
Even though it seems like it’s too late, here are 5 ideas how Obama might be able to pull off this miracle:
1. Fix the Tax code. The tax code needs simplification and loopholes need to be removed so that the wealthy 1% are not the only receivers of all the benefits. The American people don’t want to work hard just to make the rich even richer anymore. The filing of taxes needs to be made easier. The introduction of a carbon tax might help in generating the new revenue that the country will need in three to five years.
2. Take more credit for his achievements in Trade reform. Obama had set and now is about to achieve the very bold goals for doubling American exports. But just taking credit for what he’s done won’t be enough. He also needs some new breakthrough ideas to set a positive vision for the future. For example a U.S.-E.U. free economic zone. Both U.S. and E.U. are big markets and both need growth. Coordination with E.U. will also mean that U.S. gets more approachability to newer markets.
3. Bring in a Defence revolution. The American Defence budget has been pressurising the country for many years because of irrational spending based on 20th century systems and concepts. With new advances in technology and weapons such as the unmanned aircrafts and more precise munitions, it is time to bring about a revolution in how the military is formed and make substantial cuts in the budget while also strengthening the forces. Obama should concentrate on all the work he has already done in this area and also on the new concepts that the country should invest in.
4. Provide Jobs. The upcoming boom is going to make sure that there are plenty of jobs in the future for Americans. But some big refreshing ideas are also needed. Obama could focus for example on education. Let immigrants who get higher degrees at U.S. universities get green cards and lower taxes on teacher’s salaries to attract better teachers. Standing up to the teacher’s union would definitely win him a lot of cheers all around the country.
5. Set goals for Energy independence. The U.S. is already an energy exporter and a report by Citibank says that by 2020 “the U.S. should see combined domestic supply and Canadian imports of oil reach over 20 million barrels per day, while U.S. oil demand falls 2 million to below 17 million barrels per day, leaving a 3 million barrel per day surplus available for export.” North America is headed for energy independence by 2030 with new gas discoveries and alternative technologies leading the way. Obama could start this process with a commitment to framing an all inclusive energy policy that focuses on this goal.
These 5 ideas may not be the magic elixir to Obama’s campaign but it will definitely help him rebuild enthusiasm amongst his supporters and give him a fighting chance to win a second term in White House.
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