Saturday, 10 November 2012

Obama

Congratulates to Obama on winning the Presidential Election! However now he has secured the role, Obama has a long and difficult road ahead of him. I have collected a nice list of the four main problems the president faces, which are;

1. A still-struggling economy
Unemployment remains at 7.9%, and hiring is too slow to adsorb the millions on unemployed Americans. Economic growth is down to only 2%, and the US is slowly crawling out of the worst economic downturn since the Great Depression. 

2. The fiscal cliff and budget deficit
On the 1st January a volley of tax-rises and spending cuts will hit nearly every American in the USA, and could potentially cause devastation to the already weak economy, unless Congress takes action to cancel them. 

3. Iran
Iran is another source of headache for the president, ensuring stability in Iraq and promoting a solution to the Israel/Palestine situation, fighting terrorism, ensuring open access to energy and preventing a nuclear war are also all on Obama's to-do list. The US remains determined to prevent Iran gaining a nuclear weapon, however Iran maintains its nuclear program is solely peaceful and its leaders refuse to back down.

4. Medicare costs


In 2011, Medicare provided healthcare to 48.7m Americans. However, Medicare, the enormous government healthcare program for over-65s and disabled Americans, is projected soon to run out of money. Medicare's hospital insurance program is currently projected to run out of money in 2024. The doctor visit and prescription drug programs, which have an unlimited pot of money, will rise to 3.4% of GDP in 2035 from 2% last year.