Four years ago, Americans elected President Obama on a platform of hope. Hope for an America that is more stable economically. As Americans go the polls later on this year, they will undoubtedly evaluate the impact of Obama’s presidency on the economy as well as his plans for the next four years and decide whether or not to give him a second term as their president.
President Obama highlighted his achievements over the last four years and presented an economic blueprint during the recently concluded Democratic National Convention (DNC). The president acknowledged the challenge of recovering from the economic recession which has seen unemployment levels rise to 8.3% (Barro). He, however, reiterated that after half a decade of economic decline, his government had created more than half a million jobs in the manufacturing industry within the preceding two-and-a-half year’s period (Whitesides).
The president stressed on rebuilding the American economy by growing the manufacturing and energy sectors that will form a strong foundation for the economy by creating more opportunities and jobs (Barro). He targets to create a million new jobs in the manufacturing industry by 2016 as well as doubling the exports by the end of 2014 and halve net oil imports by 2020 (Harnden). In addition, the president pledged to invest in the economy money that was previously being spent on war. He also pledged to reduce America’s deficit by more than $4 trillion over the next decade (Harnden). Towards this end, the president also plans to renew tax cuts with exceptions on incomes above $250,000 stressing that millionaires ought to contribute in offsetting the federal deficits.
As Americans gear up to the November 2012 polls, they will elect a president who best epitomizes economic reforms. In the recent DNC, President Obama stated that he prioritizes growing the manufacturing and energy sectors, increasing access to college education, revising tax cut and reducing the federal deficit in his bid to rebuild the American economy and curb increasing unemployment.
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