Usa economy Research Paper Example | Topics and Well Written Essays - 750 words

Usa economy - Research Paper Example The present US economic crisis would possibly get recovered before 2010 has been a serious matter for discussion throughout various media for last few months. This research work attempts to analyze the current crisis and factors that are more likely to help the economy overcome the current economic turmoil. This paper discusses how the plans that are taken by new president Barack Obama can bring possible changes within the economy so as to save millions of families who suffer from job loss, falling of wages and home values and other difficulties. US new President Barack Obama has been shining out as the opposite of affirmative section, because he is paradoxically a post racial figured among those who are exhausted of racial discriminations. But, this is now his most challenging time to put efforts in order to save the economy. Robert Kuttner (2008) emphasizes that all of the promises and expectations come to naught if Obama fails to help economy overcome the deepening recession caused by distressed financial system and bad consumer purchasing power. (p. 17). The crisis had greater impacts on US politics that in turn it became the challenge for Obama. According to David McKay (2009), â€Å"The effect of the crisis on American politics was profound. First it helped plunge the economy in to recession-a recession that in turn helped Barack Obama secure the presidency in 2008† (p. 398). When he became US president, people expected him to come with effective measures to overcome economic crisis and thus the economic crisis itself had brought responsibility upon him. Obama’s challenge includes finding solution to the simultaneous outbreak worldwide inflation, the increasing unemployment, the worst collapse in housing market price, banking loss between $1 and $2 trillions of capital and widening income insecurity and inequality. When President Barack Obama announced his