UP Ibalon Bicol: Premature attrition of confidence

Premature attrition of confidence

12/09/2008 | Posted by mesiamd | Edit Post

Even before Pres. Elect Barack Obama gets inaugurated on January 20, 2009, there are troubling signs in the horizon. The “Yes we can,” slogan of his campaign during the election seems dampened by the herculean task ahead. His mesmerizing words which don’t synch well with truth have started to show their cracks. From his camp, liberal supporters have started to show impatience.

“Liberals are growing increasingly nervous – and some just flat-out angry – that President-elect Barack Obama seems to be stiffing them on Cabinet jobs and policy choices. Obama has reversed pledges to immediately repeal tax cuts for the wealthy and take on Big Oil. He’s hedged his call for a quick drawdown in Iraq. And he’s stocking his White House with anything but stalwarts of the left. Now some are shedding a reluctance to puncture the liberal euphoria at being rid of President George W. Bush to say, in effect, that the new boss looks like the old boss.”---YahooNews (12/08/08, Lee,C; Henderson, NM)

President George Bush must be smiling with relief. Obama's new administration promises a 2.5 million job generation program which may cost taxpayers 500 billion to finance. To raise optimism, the upcoming president dangles Harvard technocrats to keep his magic in place. But many believe experts can only be as good as the results they can produce.

What the Obama team plans to accomplish is something that the public can’t take bait, hook and sinker. Americans have seen enough of the promises, ineptness, greed, corruption, and extravagance of their leaders. And they know intelligence and smartness aren’t guarantees for success.

This early, liberals from Obama’s party have raised concerns. The messianic black president who has been heavily supported by the partisan media is telling his people that economic hardship is on the way. The financial mess will get worse, he said---a let down on the expectation of the people. It makes his supporters start thinking whether their man is up for the job.

The $700 billion bailout package earlier forged by the government isn’t enough. The beleaguered American auto industry is asking for a rescue package of $36 billion dollars in the wake of more than half a million unemployed have been reported this month. More workers fear that they’ll be laid off from their jobs or they'll lose their homes from forfeitures. Saddled by about $10.7 trillion debts, USA's economic picture isn't pretty. Americans face the worst economic uncertainty since 1974.

Economists Ben Shalom Bernanke and Henry Paulson aren’t sure if what they are doing will work. They are just as confused as the senators and congressmen in Capitol Hill regarding the economy. Their expertise hardly guarantees that things will get better. The heroics they display are dubiously too little too late, after private finances have been ruined.

Americans are nervously watching their investments wear away and go down the drain. The burnished promises they heard during the presidential election frustrate them. They realize consumer confidence isn't easy to keep when things don't do well. Stretching more patience, they need to wait and see what will happen. Uncertainty has started chipping on their trust. Many feel the economy is far from being fixed. (Photo credits: Cody Kiffen; M Dumlao98) =0=.

RELATED BLOGS: "Longer recession blues as more jobs are lost in USA" Posted by mesiamd at 12/05/2008; "Mr. Fix & the tall challenge to keep USA & the world to believe that we can quickly come out of the financial mess" Posted by mesiamd at 11/22/2008; "Like Filipinos, Americans Have Money Troubles Too!" Posted by mesiamd at 7/16/2008.

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Labels: Accountability, Barack Obama, Ben Shalom Bernanke, business, confidence, economy, Henry Paulson, politics, Totie Mesia, trust

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Premature attrition of confidence

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