Payday Loans News Break: Obama’s Economic Plan, Part 2

President Obama has work to do, post inauguration

North American Free Trade Agreement

This is part two of your payday loans source’s close-up view of President Obama’s domestic economic policy. Part one is available here. Let’s look at what Mr. Obama plans to do to promote trade and improve manufacturing.

Trade that benefits America

Increased trade with foreign countries will help the American economy and create jobs, which is essential during the country’s current recession. President Obama will accomplish this in a variety of ways, which will include the following:

• A “Fair Trade” policy that will spread good labor and environmental standards around the world and stand against previous policies that are insufficient. Trade agreements, unfair subsidies and nontariff barriers on U.S. exports will also fall under Obama’s scrutiny
• Amend NAFTA: Obama and Biden will work with Canada and Mexico to ensure that the North American Free Trade Agreement is amended to make up for the chasms that threatened to swallow American workers
• In the changing economy, workers must have the education to properly adjust. Thus, Obama will update the Trade Adjustment Assistance to help previously overlooked workers who are currently in danger of losing their jobs
• Job outsourcers will pay. President Obama will work to curtail tax breaks for companies that offshore their jobs. Moreover, a preference will be shown to America-based companies when public contracts are awarded
• Mr. Obama endorses the Patriot Employer Act of 2007, which rewards those companies that create jobs with good benefits for Americans. He will continue to pursue such gains for American workers in the areas of pay and benefits

Manufacturing and “green” jobs

President Obama understands the value of modernizing American manufacturing jobs to meet the challenges of the current world economy. In the process, he will also have the opportunity to help the environment by funding and encouraging the growth of manufacturing that produces less waste, or at least waste that is less harmful. To use a payday loans analogy, old manufacturing is depending upon expensive, wasteful checking overdraft, while green manufacturing is swift and efficient, like no fax payday loans. Here are just a few of the initiatives the 44th President of the United States of America plans to bring to fruition:

• Obama wishes to create an Advanced Manufacturing Fund that through research and peer review will identify top opportunities for expanding America’s economic sector
• The Manufacturing Extension Partnership (MEP) will receive twice the funding it received before. In the past, this program helped create more than 50,000 jobs. By increasing funding, these numbers should increase exponentially
• Five million new green jobs was an important part of Obama’s campaign. His plan to invest $150 billion over 10 years in biofuels and fuel infrastructure will not only increase fuel efficiency and aid the environment, but will provide a tremendous boost to the economy. Funding programs that are green-oriented will be necessary to educate the workforce to fill the necessary positions
• Mr. Obama is behind a Renewable Portfolio Standard (RPS) that will require 25 percent of American electricity be derived from renewable (non-coal) sources by 2025. Not only will this create jobs, but it will open up the potential for encouraging tax credits like the Production Tax Credit

If President Obama is able to accomplish his goals for America in terms of trade and manufacturing, the boost to the American job market should be tremendous. More jobs equals greater economic freedom. Freedom to choose how your money will be spent (as well as how it will be borrowed, when you want payday loans) is essential to the rights of the American consumer. Read on to Part 3 of this article and see how President Obama will address the economy through aids to the country’s infrastructure, technology and small businesses.