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Economic Recession: Obama's Steps for Economic recovery

Updated on October 3, 2013
PResiden Obama-Trying hard to overcome problems
PResiden Obama-Trying hard to overcome problems
 Keeping the dollers within the country-is Obama's priority
Keeping the dollers within the country-is Obama's priority

Obama's recent speech

In his latest speech in American parliment, President Barack .H. Obama has expressed his keen desire to bring his country out of economic crisis and combat unemployment. He is very much worried about his people loosing jobs and becoming unemployed.After great depression that occured last year, every country (perhaps China apart) is struggling hard, to keep itself economically safe. America can never be an exception.

Obama's plans For economic recovery

in his speech, Mr. Obama streed American Congress , to pass the bill restricting giving outsourcing works to other countries like India.he has stated," By this measure, we cannot get back the jobs alrready lost by 70 lacs of Americans. But atleast, we can stop further loss of 20 lacs jobs, which our people are going to loose in a short time. Now every one of 10 Americans is unemployed."

The bill, apart from restricting outsourcing, also proposes to spend $3000, as loan to small industries sector.He also plans to create more employment in the year 2010. But how, he has not eloborated it. He plans to invest more in training the emploees in skills, and quality production.

Doubling Forex exchange

He has also expressed his wish to double the forex exchange in next five years. But it seems he has no definete plan for that just now.

If industry boosts up, it definitely pushes foreign currency trading ahead, in almost every country in the world,whose foreign exchange is connected to U.S. dollars. That further recovers American economy, as the dollar values jumps further.

Wish to remain Super power.

In the same speech, Mr. Obama has further stated, that America wants to retain its 'Super power no.1' position.But it is better if he keeps himself off the ambitious plans like attacking other countries, encouraging industry related to war weapons, etc, in order to maintain this pseudo image. In the past, wars have proved costly much for America.

But Mr. Obama has also stated that he wishes to withdraw his forces from Afganistan, after training the native military forces. That, if implemented, will be a good step.

Effect on India

Mr. Obama's this intention has sent shivers in software industry in India. Large part of its work contract is from U.S.A.Many of Indian software engineers may loose jobs or they may get less salary.On the other hand, it may not be possible for software using companies to stop outsourcing to India, as they may not find suitable workers there, and the required work, if assigned to them, may be delayed very much.

Another contradiction

Even though Mr. Obama's decision sounds right from the point of view of saving employment chances in his country this decision has to be seen from another angle also. American government, since long, hes been urging other countries including India, to 'Open the doors and leave the business chances open to all'.It is by USA's pressure only the policy of globalization, economic liberalization etc, have come to existence. That has affected many other countries . These ideas have changed the age-old systems of living in those countries and made the life expensive.

But now the wheel has turned and acting like a boomerang. Now American government wants to impose restrictions on free trading. That may affect it in other ways in days to come.

It has to be seen and judged!

Strengthened Dollar

Now, by August 2013, American dollar has gained strength remarkably.It is firm against Euro, and going up against Indian rupee.Rupee is falling down.This has given U S A a strong come back on world economic front.

Govt.shut down in USA

Since 1st October, American govt. has shutdown its offices and has largely cut down its expenses as American parliament has not sanctioned Obama's budget.Its objection was against Obama's 'Healthcare project expenses, termed 'Obamacare'.It is said that it takes weeks to start govt.'s normal functioning again.

ALSO SEE


http://hubpages.com/hub/Shuoldnt-Indians-eat-good-food


http://hubpages.com/hub/---The-glory-of-GOLD

http://hubpages.com/hub/Top-ten-financial-institutions-of-the-world

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Please poll your opinion

Do you think Mr. Obama's steps to restrict outsourcing help America?

See results

Comments

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    • prasadjain profile imageAUTHOR

      Dr.S.P.PADMA PRASAD 

      6 years ago from Tumkur

      Additional Note

      After one year of publishing this hub, now when we retrace the happenings, it seems Obama was not fully wrong. American youths have, to some extent , secured jobs, but American Economy has not come back to normalcy.Ont he other hand, European Economy itself is in danger of recession.But US dollar is gaining strength.

    • profile image

      Johnny Bridges 

      7 years ago

      Thanks for this write-up on the recession. One profession which is more or less recession-proof is trucking. There will always be products that need to be transported, and truck driving jobs will always be in demand. Just a thought...

    • prasadjain profile imageAUTHOR

      Dr.S.P.PADMA PRASAD 

      8 years ago from Tumkur

      thank you all, for giving me good feedback.

    • Teresa Laurente profile image

      Maria Teresa Rodriguez - Laurente 

      8 years ago from San Antonio, Texas, U.S.A.

      Great information. Thank you for sharing your thoughts. Would love to hear more.

    • shabarigirish profile image

      shabarigirish 

      8 years ago

      Very informative hub prasad jain. Restrictions on outsourcing may create some jobs for Americans, but America will definitely get a cost advantage if they outsource works from other countries. Keeping control on cost is also an important aspect to be considered.

    • stars439 profile image

      stars439 

      8 years ago from Louisiana, The Magnolia and Pelican State.

      Very nice hub, and love the way you treat subjects with dignity and intelligence. You are a fine writer and quite skilled at the art in my humble opinion. God Bless

    • ratnaveera profile image

      ratnaveera 

      8 years ago from Cumbum

      Very nice Hub indeed! I hope Obama is trying to recover American economy in a short period of time. All his steps would be really helpful to unemployment and economical problems in the country. Thank you very much for this nice Hub!

    • profile image

      AARON99 

      8 years ago

      Thank you sir, for your valuable advice. By God's grace that oppertunity will come soon.

    • profile image

      AARON99 

      8 years ago

      A very insightful hub on these topic. Keep it up.

    • JYOTI KOTHARI profile image

      Jyoti Kothari 

      8 years ago from Jaipur

      Hi Prasad,

      Restrictions on out sourcing can not help America. American economy seems to go down, down and down. American era has been coming to an end.

      Thanks and thumbs up!

      Jyoti Kothari

    • H P Roychoudhury profile image

      H P Roychoudhury 

      8 years ago from Guwahati, India

      A great hub. . Obama might be in right track in this juncture of economic crisis.

    • prasadjain profile imageAUTHOR

      Dr.S.P.PADMA PRASAD 

      8 years ago from Tumkur

      Listen, think and talk Mrs.v_k. How can democracy survive, if citizens do not talk sensible things?

    • v_kahleranderson profile image

      v_kahleranderson 

      8 years ago from San Jose, California

      I will admit to preferring to hear about politics than to talk about it. I grew up listening to my father and his father, and others around me at work. I just don't get involved. So I welcome reading and listening politics.

      Good Hub!

    • Nenu profile image

      Nenu 

      8 years ago

      Thanks For Giving Such A wonderful Peace Of Information.

      I Would Like To Put it on my blog.

      Keep It Up.

    • prasadjain profile imageAUTHOR

      Dr.S.P.PADMA PRASAD 

      8 years ago from Tumkur

      Obama's idea in restricting outsourcing is to get employment oppurtunities to his people. That's one of the ways to get economic stability. That is necessery to remain as superpower. That's his line of thought.

    • Kevin Peter profile image

      Kevin Peter 

      8 years ago from Global Citizen

      restriction in outsourcing will never help America to become super power........

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