Since returning to the US, it seems the news is filled with criticism for President Obama. In a subtle way, it almost sounds as if people are blaming him for the high unemployment. They are holding him accountable for the amount of people out of work because he has not created enough jobs.
Looking at the big picture, you have to wonder if any politicians are committed to fixing the economy or if they’re busy playing the blame game. So who’s to blame? President Obama because inherited an economy that was in a downward spiral?
For Obama, it is analogous to a sinking ship. What are the choices when the ship is as it’s going down? You can jump ship. You can use buckets to throw the water overboard while the water is coming in at a faster rate. Or you can patch the hole. Obama hasn’t bailed. He has tried to create jobs, however, entire industries were collapsing around him. The economic landscape was changing, and even if he had created jobs in the beginning, people would still be out of work as their entire industry sunk. Unemployment levels were rising faster than we could hand out jobs.
You have to start at the source of the leak, and patching the hole in our economy does not happen over night.
When you have a sinking ship, you would have to make many tough choices and incredible sacrifices. Where do you devote your resources? Do you save lives or worry about temporary damage to the contents of the ship? In the case of the economy, once the cargo, in this case, the industries in danger are secure, they can go back to a stable growth mode. The ship can continue on its way.
Additionally, while Obama needed to be sure these industries grew, it seems apparent that additional regulatory policies had to be put in place to avert another economic crisis. Even if that regulation risked destabilizing some of their growth. It was necessary to patch the hole so it does not open again.
We’re now in a testing phase, patching the holes and seeing if the cork we used was the right size.
While I believe the President took appropriate measures to fix the economy, it does not mean I agree with everything. He should be careful about additional taxes for the people who create jobs in this country: business owners. As a business owner, if I am willing to risk my resources – time, money, effort and family – why should I be penalized? We live in a country where people who make the greatest effort reap the greatest rewards. It’s the American way. Imagine if the person who trains the best and wins the gold medal in the Olympics is told they have to give up their medal to the less fortunate. Who would want to win the gold?
Whether accumulating wealth from trading stocks or owning a business, allow us to benefit from our expertise. Entrepreneurs and those growing businesses should be rewarded and encouraged most of all. As we gain, we eventually need greater support from others. Let us distribute the wealth to others who have developed an expertise.
What do you think? I would love to hear it below.