Obama\'s Economic Plans Barack Obama\'s

Obama's Economic Plans

Barack Obama's Economic Plans

Thank you for the opportunity to speak today and present to you what is known so far about President-Elect Barack Obama's economic plans.

Attention getter) by the way there will be a pop essay quiz immediately after my presentation on what percentage of the Obama family budget should go for dog food, dog grooming, and canine entertainment in the White House.

Seriously, why should high school students care about what Obama says he will do when he takes office? Here's why: these are very difficult and stressful times in the lives of many if not most Americans. Those who are paying attention to the news know that millions of Americans have lost their jobs, tens of thousands of families are losing their homes, and the prospects for an upturn in the economy seem elusive at best. We're in a world of financial trouble, and I mean all of us, you and I and our families included.

Thesis) Frankly, a key reason that Obama was elected in November is that voters were frustrated and afraid of what is happening due to current economic conditions in America. They have put their faith and trust in Obama and have very high expectations that he will deliver on his promise to get America on the right track economically. They did not have the same faith in McCain and Palin

Today, I will lay out the specific steps that Obama must take to get the economy back on the right track, and to jumpstart businesses that are shutting down one by one every day.

Number One: He must gain the trust of the American people; right now it is obvious that Americans have little or no faith in the Bush Administration's ability to get us out of the black hole we are in economically.

Number Two: He must have the support of Congress as he goes forward with plans to spur the economy. Number Three: He must keep his promise to always tell the truth to the American citizens; he seems to be doing that because the other day he said that the U.S. economy was "likely to worsen before it improves" (Knowlton, 2008). Number Four: Obama must use the $700 billion Congress authorized to create jobs, save families from losing their homes, and stimulate the economy through massive public works programs.

Body of speech) President-Elect Barack Obama is dealing with the biggest economic crisis American has faced since the Great Depression. In November alone over 530,000 Americans lost their jobs. Banks are unable to make loans and consumers are hanging on to what little discretionary money they have which is causing a huge slow-down in retail sales.

In dealing with those critical issues Obama has been forthcoming with public pronouncements as to his plans. He spoke on NBC's Meet the Press Sunday about making "the biggest investment in the nation's infrastructure since President Dwight D. Eisenhower created the interstate highway system a half-century ago" (Bloomberg.com). Obama said at a news conference in Chicago Monday that the governors of many states have projects that are "shovel ready" and can be launched quickly to provide jobs and begin the massive task of rebuilding the nation's aging infrastructure.

Deficit) Obama knows that the credit markets are frozen, home prices are falling, and even though the federal budget shortfall is nearly $1 trillion, he said, "We can't worry, short-term, about the deficit...we've got to make sure the economic stimulus plan is large enough to get the economy moving.... we need to be rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels" along with building "fuel-efficient cars and alternative energy technologies that can free America from dependence on foreign oil..." (District Chronicles, 2008).

Autos) the multi-billion dollar line of credit that Congress is expected to pass to help the auto industry survive has Obama's support, but he insisted the bailout be "tied to a reinvention and streamlining...and hold the industry's feet to the fire." In other words, the day of the gas-guzzling SUV may be on the way out, and hybrids will be in.

Banks) Obama said that his administration will launch a "strong set of new financial regulations, in which banks, ratings agencies, mortgage brokers...will start having to be more accountable and behave much more responsibly" (New York Times).

Technology) in Obama's radio address last Saturday he insisted that "It is unacceptable that the United States ranks 15th in the world in broadband adoption...every child should have the chance to get online and they'll get that chance when I'm president."