Goodbye to blogging

Well, it has been a very eventful semester blogging about politics, the election, and post election.  I have learned a lot and felt very informed during the process of electing our new President.  Althought I have not agreed with everything that went on, I was grateful to be apart of such a history making decision.  It will be interesting to see what happens after Obama takes presidency.  Looking forward to the future..

Out of the limelight

After President Bush steps down and passes  the torch onto Obama, he will be out of the limelight and public speculation.  He will fall in line with all the previous presidents and will just be a memory. 

“The first year for every ex-president is really hard,” said David Brinkley, a presidential historian at Rice University. “You have to raise all this money for your library, you’ve got to build an organization, you have to write a huge memoir, your papers are in disarray, and you suddenly realize your mistakes because your pace slows down.”

How will taxes be spent?

In a national poll, 6 out of 10 Americans voted that they don’t believe the automobile bailout plan will be a good idea.  They don’t believe that it is fair to use taxpayers money to help the automobile companies.  The poll, conducted Monday and Tuesday, also indicates that a majority of Americans, 53 percent, don’t think government assistance for the auto makers will help the U.S. economy.  ”  Only 15 percent say that they would be immediately affected if the auto companies went bankrupt,” CNN Polling Director Keating Holland said.

Tax cuts coming soon

When Obama becomes President on January 20th, we might see the middle-class tax cuts showing up in paychecks early next year.  He hopes to have a massive economic stimulus plan waiting for his signature it’s expected to include hundreds of billions in spending on infrastructure and green energy, but he also made clear last week that he wants it to also feature tax cuts to lower- and middle-income Americans.  Obama wants to start putting money back into the American’s hands as soon as possible, and it sounds like he’s not going to waste any time.

Who will take Clinton’s seat?

Some speculation is that Bill Clinton will try to take his wife, Hillary’s seat in the Senate since she has been appointed Secretary of State by Obama.  The task of choosing a successor to Clinton will be tough but that job falls to David Paterson, New York’s Democratic governor.  The replacement will serve for two years, then a special election will be held in November 2010 to decide who will fill out the final two years of Clinton’s term.  Leaving the Senate will be hard for Hillary she has said, she loves her job.

Governors help

President-elect Barack Obama and Vice President-elect Joe Biden met with governors to discuss rising unemployment, falling tax revenue and increased demand for state services and to press for federal money to ease their fiscal strain.  Obama wants the governors to help the country hands on implementing strategies.  Obama and Biden told those at the National Governors Association meeting that the federal government needs to build a deeper relationship with the governors in order to put America on the path to long-term prosperity.   

Obama nominating Republicans?

I think it is a great idea for Obama to allow Republicans to be apart of his cabinet.  I believe that it will level the playing field somewhat, and hopefully allow both sides to be heard on issues.  Although I am pleased with this decision, I can see why his advisers would not think this to be a smart move.  Some of the names that have been mentioned are Senators Dick Lugar, Chuck Hagel; and Governor Arnold Schwarzenegger.  There have not been any promises yet, so the options are still in the air at this point.

Obama choses his leaders

Obama said he sought leaders who share his fundamental belief that “we cannot have a thriving Wall Street without a thriving Main Street.” 

Obama has chosen Tim Geithner as treasury secretary and Larry Summers as chief of the National Economic Council.  Geither was New York Federal Reserve President and Summers was a previous treasury secretary.  Also chosen were Melody Barnes, as director of the Domestic Policy Council; Heather Higginbottom as deputy director of the Domestic Policy Council and Christina Romer as the chair of the President’s Council of Economic Advisers.

Saving the economy

President elect, Obama knows that with the economy the way it is now he must move fast.  On January 20th he will begin work to stimulate the economy with an estimated about of at least $175 billion.  His chief adviser believes that the number will need to be a lot more, and with unanimous support needed to go ahead with his plan Obama says he will take ideas from both Democrats and Republicans.  He plans to bring millions of jobs back to the United States and to allow the American people to rebuild our country again.

Auto bailout

Automobile industry in need of $25 billion dollars with the slow economy at hand.  The Bush administration as well as others are not sure if this is the best plan yet.  Lawmakers said that the auto companies have to prove that they would put bailout money to good use – so they wouldn’t come back asking for more in the future.  Opponents of an auto bailout argue that GM or any other automaker that can’t sustain itself should use bankruptcy protection to to become competitive, rather than depend on federal assistance.  ”It is all about accountability and viability,” said House Speaker Nancy Pelosi, “We need to see a plan where the auto industry is held accountable. Until they show us the plan, we cannot show them the money.”