Introduction
Plausible policies are important in advancing the economy of any given country. This paper examines the variables that affect social and economic aspects of the United States. By so doing, this paper brings out the salient issues that determine policy formulation. Additionally, the paper brings out the critical importance of the economic and foreign policies adopted by a country.
The Obama administration has shown tremendous grasp on policy strategies tailored towards improving international relationships. I personally agree with the application of the Obama administration’s foreign policies. Moreover, I agree, even though not wholesale, with the kind of economic policies being implemented by the same administration. For example, in ameliorating socio-economic gap, among different classes, which has grown because of recent global recession, the government is doing well but I wish it could do more.
I appreciate that the Obama administration has many critics and selfish interests drive majority in their critic. Overall, I believe that Obama is doing a good job especially with the current financial crisis. Obama has shown a clear understanding of major global issues demonstrating a genuine sense of strategic direction. An understanding of what measures the United States ought to be undertaking in social and environmental dilemmas confronting humanity as a whole.
Obama has been rightly criticized at his pace on implementation of his very well articulate policies including those on the economy and foreign affairs. Concerning recent global financial crisis the correlation between what has taken effect in the period he has been the president and the rhetoric shows the need to speed up transforming that into action. I believe Obama as the executive to needs to show serious commitment to ensure their effective implementation.
The economic Policy
The economic policy by the Obama administration is noble on paper and only workable if there is practical commitment on its implementation. According to the Economist, Obama and his administration are more enshrined on rhetoric than in its implementation. The attack on this policy is not based on using federal money to keep teachers in their jobs, to saving the domestic auto industry, to investing in job creating for the many unemployed youth.
Rather, it is based on the moral values and lack of accountability especially to put to account people and institutions responsible for the 2008 financial collapse. Policy makers presume that their constituents benefit, yet collectively they make these policies in an effort to protect their own economic interests. We are poised with the fundamental debate on the size and role of the federal government. While the housing market continues to decline, the dollar weakening in the world market and no creation of any new jobs (The Economist).
The response to the recession is based on stimulus, this increase on the government spending. Obama and his administration at large cannot guarantee economic security, an upward mobility, entrepreneurial innovation without enshrining his moral values. Moral standards of conduct have to be put in place to address long-term economic growth.
The recovery plan has to take into account radical economic changes that have take place spanning in the last decade. Starting in 1997 with the multi-national corporate tax deferral on foreign income has resulted in a significant flight of capital.
This can be done without necessarily blaming the Bush administration for their inability to fix the communist policies that has driven this economy further into debt. Start with his campaign pledge to renegotiate for the trade agreement signed into law during the Clinton administration responsible for loss of jobs to foreign countries.
The government will have to temporarily nationalize major banks, differentiate good assets from bad ones, and then give back the banks to responsible private ownership (The Economist). To salvage the housing collapse, instead of bribing banks to ease terms, the government should directly refinance mortgages.
Foreign Policy
Although it seems to be taking time to take shape, the foreign policy so far has been relatively successful in profound ways (Foreign Policy).
The focus of the obama administration, when it comes to international affairs, aims at rebranding the U.S as a global facilitator rather than the global domination force. The Obama administration sees the US more as a responsible partner for other nations rather than a savior. The secretary of state Hillary Clinton has continued to re-emphasized on the three pillars of the foreign policy; defense, diplomacy, and development.
Her foreign travels aimed to show a consultative approach. The Obama administration with new policy approaches has begun to address a number of global commons issues .This is in its involvement in climate change global financial reform, or nuclear non- proliferation. This has continuously made Obama’s administration more popular compared to the Bush administration especially abroad.
This approach is intended to ensure a more unified and complete approach to foreign policy. U.S. policy on China was based almost based entirely on economics and human rights related issues (Foreign Policy). Most importantly, this policy looks to rebuild the sense and reality of American military strength through disengaging from apparently intractable situations and focusing on competencies.
To enhance collective power, the US focuses on calling on allies to take part in security responsibilities. Generally, Obama’s foreign policy has had its share of successes and failures but Obama’s approach based on diplomacy and respect seems to act as a catalyst for mutual growth, development and relationship with allies and other countries globally in comparison with the previous administration.
Conclusion
This paper looked critically into two crucial policies being implemented by the Obama administration. A lot has been said about the foreign and economic policies formulated and being implemented by the Obama administration. Although both the policies have strong points they also have flaws. However, it is worth noting that there is no given policy that can be said to be perfect. The Obama administration needs to transform its rhetoric into practical reform agenda.
The foreign policy has transformed the country from its pariah status under the previous Bush administration, restoring the relationship of the Republic in the minds of many governments around the globe especially with his profound new style of leadership. The economic policy, despite challenges related to the global recession, has to be coherent and plausible in an effort to gain practical strategies to achieve a prosperous economy.
Works Cited
The Economist. American Economic Policy. 2011. Web.
The White House. Foreign Policy. 2011 Web.