Obama has tough task in hand
Barack Hussain Obama might have successfully overcome all the hurdles to become the US President. But his life as US President is going to be really tough. Consider the following facts :
The financial condition of US is worsening by every passing day
Bank lending to customers and companies have virtually dried up, choking the business system badly
More and more US citizens are losing their jobs, and the defaults are set to rise
US housing prices continue to crash to record lows, due to increasing supplies and decreasing demand
US auto majors and Insurance majors have so far swallowed over 200 billion dollars of tax payers money with no signs of revival
Iraq and Afghanistan, and now Pakistan, continue to haunt the military capabilities of US
And all the above issues have widened the US fiscal deficit to record highs which means, leverage for further stimulus spend, by Obama could be difficult.
If the US economy does not recover in the coming quarters, Obama might be forced to pull back most of the tax benefits to individuals and corporates.
Let us all wish Obama all the very best.
