Tag Archives: Obama

Occupy White House

When Barack Obama was elected on a wave of euphoria three years ago this month, the US was in the grip of its deepest recession since the 1930’s.

Times were tough, but when the silver-tongued President-elect spoke of hope and change, of America as a place where all things were possible, he spoke to the American dream. People wanted to believe.

After three years of economic pain and political bickering, Americans are angry and frustrated. They have lost faith in their political class. For the first time in living memory the American dream itself is being called into question. People are no longer so sure that if they work hard and save hard, they will be able to provide a secure future for their children. Continue reading

Lessons for Ireland from Obama’s Jobs Plan

Barack Obama knows that his 2012 re-election chances may hinge on his ability to tackle unemployment which has remained stubbornly above 9%. With the US purse strings in the vice-grip of a US Congress controlled by a Republican Party with a deficit fetish, he knows better than to expect help from this quarter.

If more fiscal stimulus is impossible, whether because of real funding constraints, as in Ireland, or because of purely political constraints, as in the US, then the next best approach is to get more bang from the government buck. It is this concept, formally known as the ‘balanced budget multiplier’, that underpins President Obama’s latest jobs plan. Continue reading