Essay - Journal Waiting for God-only-knows-what January 20, 2009 Marks a Momentous...

Journal

***** FOR GOD-ONLY-KNOWS-WHAT

January 20, 2009 marks a momentous occasion for Americans and American history. It is the day when the first African-American president is inaugurated. But Barack Obama has h***** work cut out for *****im because he becomes ***** most powerful leader of the free world albeit in a country facing its worst recession - or probably depression, since ***** 1930s. Indeed the American economy is in dire straits but the new president may well look at the Chinese character f***** obstacle also mean "opportunity." There ***** a grim fin*****ncial and economic outlook and as ***** article states: "...projections that show the financial crash ***** ***** resulting ***** are already wreaking havoc with America's finances. It reckons that the budget deficit will soar from $455 billion in fiscal 2008 (which ended last September 30th) to an astonishing $1.2 trillion in the current year. At 8.3% that would be the ***** as a share of gross domestic product s*****ce the Second World War (Waiting..., 2009)"

Despite the grim outlook portrayed in the article, there are still several measures and reforms ***** President Obama can muster. ***** is the multi-billion dollar stimulus package for select ********** from the strategic point as well as individual tax cuts ***** workers at the tactical ***** operational level. The latter ***** ***** going by the "entitlement mentality" ***** if it does help alleviate the faltering economy; *****n ***** ***** a bitter pill to t*****ke. For his part, Mr. Obama has acknowledged the urgency ***** addressing **********, but said more specifics would have to await his draft ***** proposal, due for submission in mid-February (Wait*****g..., 2009). Whatever solution ***** ***** president take, there would be battles and skirmishes to ***** fought at all *****s ***** segments of the society and the government. There is a threat - a clear and present danger affecting each and every ***** thus "Mr. Obama [needs *****] hurry up ***** explain how he ***** tame the deficit once the recession is over (Waiting..., 2009)."

Bibliography

***** ***** God-only-knows-what." The Economist. (*****, Jan. 8). [Online] Retrieved *****. 19, 2009 from the Website: http://www.economist.com/research/*****sBySubject/displaystory.cfm?subjectid=348876&story_id=*****903453.