Independent daily Newspaper


 Old Archive RSS Feed    Advertise



 The Tumultuous Era in US Economy and Presidential Election

 Opinion — Analysis
  The opinions expressed in this commentary are solely those of the author


The Tumultuous Era in US Economy and Presidential Election ‎ 24.5.2012 
By Omar Sindi
Special to

Share |

U.S. President Barack Obama. Photo: Reuters. Read more by the Author
May 24, 2012

In the near term, the outlook of the U.S. economy’s recovery looks grim. In the long term, the outlook of the economy looks grim. It’s so uncertain that it might take a decade before any president of either party or ideology can count on a claim of credit for a fixed economy. Recent polls show that President Obama has a slim lead ahead of the presumptive Republican nominee, Mitt Romney. However, if Obama loses in November, the ultimate factor should not be Romney because he (Romney) has not offered any cure or economic policy agenda for the near term solution nor long term fix, other than his campaigning slogans blaming all economic ills on Obama‘s policy.

In fact, the United States economy was in deep trouble before Obama and his team before entering into White House. In addition, that the President Obama ‘s recent revealing support, for gay marriages could further delineate support from conservative groups, especially religious sects, Catholics, Protestant, Muslims, etc.; however, on the other hand it might also motivate and transpire more liberal minded people to vote for President Obama on election day .

The winter's confident signs of outlook of recovery have decapitated away to spring uncertain. A See Saw- weekly unemployment claims has risen again and housing starts have diminished. The outlook of a new European recession may be threatening to suffocate U.S. exports and jeopardize the Worlds finance. However, it is the reason behind past economic trouble news, indeed threaten Obama‘s chance of re-election and wish a risk Romney‘s in 2016, if he unseat Obama this fall. It looks like the U.S. economy will not generate enough jobs or prosperity that a president or a party can claim credit.

Regard of the housing market: The difficulty is not just over 10 million people homeowners owe more on their homes than those homes are worth of. In addition, housing outlook forecast sales remain very sluggish, because many buyers do not have enough cash for a down payment or do not qualify for a new loan term, under a new regulation set up by the Federal government. Even though, the interstate rates as low as it can be.

That what befalls, when United States incomes fall and they have persisted to do despite in the midst of U.S. outlook semi- recovery.

The slow down or decrease in wages is partly due to U.S. multinational corporation, which have in past helped to create jobs, with high pay.

Now these corporations are hiring abroad or moving over sea for a much cheaper work force. Some time ago, Commerce Department data showed that U.S. multinationals raised a little bet domestic workforce by a few percentage during 2011, while they raised oversea workforce, with much higher percentage point. Many of those companies previously were based in United States.

With off shoring comes lower wages for American workforce, whose jobs may be transferred to where cheaper labor forces are more available.

The current consistency decline wages in American manufacturer jobs, perhaps slow recovery. For example, in United States the average manufacturer hourly rate is above $20. while in China and India with the same work, may be below $5.00 an hourly rates, probably with no benefits. Now booing company, has announced will help to train Chinese workforce to built the Commercial Airline, that will take another chunk of very sensitive American jobs .Transferring American Technology to oversea will cause more American to join unemployment line, then more people will not be able to buy the house or a car, perhaps a college tuition for their kids education. “Little over month ago New York Time poll, which showed Obama and Romney at even percentage points, many respondents were worried about the status of U.S. economy and their offspring’s economic well being.

In this century, the only U.S. economy can simultaneously afford two wars for more than a decade at the same time; this war has cost U.S.

taxpayer more than two-trillions, + U.S. $ dollars, Iraq and Afghanistan. The Iraq war intention at least on surface, was overthrew the entrenched a dictatorial system, to replace with a new world order, with a democratic system; all pundits agreed that did not happen yet and Iraqi Prime Minister Nuri al- Maliki is trying to consolidate power, to go to a mono- rule, despite U.S. ambassador James Jeffery claimed on one of his interview with the Arabic Magazine said, U.S. left behind a young democracy in Iraq. Afghanistan’s war, if history is any lesson to be learned neither British nor former Soviet Union succeeded previously. The current war led by the U.S. in Afghanistan, the outlook does not look promising either and U.S.
taxpayer keep funding on going conflict.

No signs that Romney’s enroll suggests he wish defiance these course.

To extending worker power to reinstate the share of corporate revenue that used to be to go to wages, or using the government ’s power to help build domestic industry, his tax proposal call for lowering taxes on the wealthy, his philosophy lowering taxes on rich people ,will create jobs in the United States.

But President Obama has been trying to blame economic ill on his predecessor, said when he took the presidency, the U.S. economy was overly exhausted.

Late President Ronald Reagan was reelected second term, he convinced majority of American people that his policy is based on a good economic forecast. And Former President Bill Clinton elected on second term based a strong U.S. economy and Clinton was one of those president, which the U.S. economy had projected surplus.

Omar Sindi - United States, a regular contributing writer and columnist for

Copyright © 2012 All rights reserved 


  The opinions expressed in this commentary are solely those of the author


Copyright © 1998-2016 Kurd Net® . All rights reserved
All documents and images on this website are copyrighted and may not be used without the express
permission of the copyright holder.