commentary on Obama's economy plans

It is awesome to see that Obama is seeking to make sure he keeps the promises he made while campaigning. The president elect held a press conference to reassure nervous holiday shoppers about the economy. "Help is on the way," he said at his third news briefing on the economy this thanksgiving week. He declared he would have an economic plan starting day one. His role was to keep investors spirit rolling high. He wanted to make sure that these investors have confidence in his leadership and also wanted to know his economic team. Hence, to help with ideas from outside the White House, Obama announced he was forming a new team of advisors with former Federal Reserve Chairman Paul Volcker as the head. Obama said, "I think it is important for the American people, though, to have confidence that we've gone through recessions before, we've gone through difficult times before, that my administration intends to get this economy back on track." The day after thanksgiving is the most vital holiday shopping season, with high discounts already in place as stores try to lure buyers who are worried about their jobs and homes. The government reported Wednesday that jobless claims had remained at recessionary levels, consumers had cut back on their spending by the largest amount since the 2001 terrorist attacks, orders to U.S. factories had plunged anew and home sales had fallen to the lowest level in nearly two decades. As a result, the president-elect had to react and raise hope and fulfill the high expectations of the people on fixing the economy which he is already doing it. Obama spoke as businesses were preparing for what many fear could be a disastrous month. Volcker, 81, will head the President's Economic Recovery Advisory Board. Volcker is a legendary central banker who raised interest rates and restricted the money supply to tame raging inflation in the 1980s. It was a painful prescription that helped send the economy into one of the nation's worst recessions. However, he is largely credited with ushering in nearly three decades of relatively low inflation, an unthinkable feat in the 1970s, when the country was grappling with high unemployment, high interest rates and ever-rising prices. "He pulls no punches," Obama said of Volcker. People should understand that help is on the way. And i think about this Thanksgiving shopping weekend, and as i think about the Christmas season that is coming up, I’m constantly reminded that we are going to be able to get through these difficult times.
Even though criticizing the new president-elect seems to be a little early, it made him to be care full with every move he made on picking and assigning his new cabinet. President elect Obama is working hard to make sure he brings change to Washington after decades of failed leadership and lost the great American image by the rest of the world. Because of his little experience in leadership, people might develop doubts in overcoming the current economic crisis. The new president kept on working hard to make sure he picks people with experience in order to keep people from losing their jobs and possibly their houses. No matter how the current economic crisis brought tremendous pressure to the president- elect, his constant effort of combining experiences with fresh thoughts is very uplifting and hope-giving.