Obama’s Promise for the next ten years
In February 2011 Obama presented a $3.729 trillion budget proposal for fiscal 2012. In the budget he will create another 200 billion dollars deficit for this country in 2011. The most interesting part is that he promises to reduce the federal deficit by 1.1 trillion in the next 10 years when his presidency year has only two years left. My question is that as a president he cannot even prevent his health insurance reform being reversed how can he guarantee that his budget plan works when he is out. If he is failed in the next election even the national debt is really reduced it should have nothing to do with him, isn’t it? His proposal proofs that he tent to make empty talk.
He is worried that Republicans will cut into the recovery. House Speaker John Boehner said “Over the last two years the federal government has added 200,000 new federal jobs. If some of those jobs are lost in this, so be it. We are broke.” Actually in the last two years Obama did nothing to create jobs. He simply created debt to support those so call job opportunities. He considers that is his achievement for recovering economic. He forgets that anybody could do what he did – borrowing money.
In his budget proposal he insists to invest in high-speed rail and energy efficiency. He considers that is a way to boost U.S competitiveness. It is obvious that he compares U. S with China. China has 1.4 trillion population and we have only 400 billion people. Potential passengers for the two rail systems are different. For building the high-speed rail Chinese rail road department has 1.4 trillion RMB debts. Their debts are about 56% of their total asset and it gives them troubles to get loan from the banks. Beside that data shows: 100 billion dollars investment in high-speed rail can only create 1500 jobs. That means Obama’s 300 billion dollars spending in high-speed rail will give almost no help for the job market. His energy efficiency investment will only create some high-tech jobs as well. He forgets another thing that peopl who need jobs are from manufacture jobs and construction fields. Create high-tech are help nothing. Our government could not create debts to support those unnecessary jobs forever.
