Things are better than expected, the rise for employment and economic stability continues to improve. Though, the surveys on unemployment were conducted before the storm Sandy. There are estimates that this storm could shave off 50 billion dollars of the GDP. “Generally, the report shows that things are better than we’d expected and certainly better than we’d thought a few months ago,” said Paul Dales, senior United States economist for Capital Economics. “But we’re still not making enough progress to bring that unemployment rate down significantly and rapidly.” Again, President Obama might have an upper hand, which could add more votes in his power. These economic gains are still inching in under Obama's presidency, could give him some lead. Romney on the other hand is confident that there will be major economic growth, if elected president. “Today’s increase in the unemployment rate is a sad reminder that the economy is at a virtual standstill,” he said. Not sure if Romney is convinced about the slight unemployment change, he might think its not doing well enough at this rate. Frankly, his plan is unclear but in broad strokes it appears to be a classic top down republican approach. Some have compared these views and economic strategy to those of Ronald Reagan. Romney is an admirer and inspired by Reagan. Reagan was famous for saying "In this present crisis, government is not the solution to our problem; government is the problem." A major part of Romney's platform is to reduce the size of government and reduce the federal government's regulation of the private sector. This is the cornerstone of his pro-business economic strategy and it is very Reagannesc.
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ReplyDeleteGreat point of view. Reagan was a great president and despite of democrat or Republican, we all admire him for his great contribution toward American people. Reducing the size of government and the regulations from private sector are good ideas. Obama administration can think about it. When the question of cutting spend, both government and citizen should be equally conserved. I am sure lots of people liked Romney's ideas of economy that is the reason he was so close to the victory.
ReplyDeleteNow when we have reelected President Obama for the second time and lots of people are connecting him with President Franklin Roosevelt who was elected for his 2nd term with the highest unemployment rate and was able to pull the nation out from great, people are expecting the same from Obama. In his speeches he also said through his campaign he got changes to listen people and to know what they want. Hopefully he will use his experiences to help America to get out from this unemployment depression.