More on the President’s Economic Plan
The party is over, Mr. President. The challenges you’ve vowed to tackle with the nation’s economy await, and your payday loan source – as well as the rest of the nation – want to know what you have in store. This third article in a series of five will review your plans for improving America’s infrastructure, technology and small businesses. If you missed the previous articles, here are parts one and two.
Transportation situation
Highways, bridges, roads, ports, air and train systems; it’s how we get there. With projects that improve our transportation infrastructure, jobs will be created, we will be safer and commerce won’t slow down. Hence, America will remain a major competitor on the world stage.
President Obama aims to start a National Infrastructure Reinvestment Bank.The Bank will receive $60 billion in federal money over 10 years, which will go above and beyond previous infrastructure funding. This money will go toward transportation infrastructure projects nationwide. Experts estimate that these projects will create two million jobs and pave the way for about $35 billion additional per year in increased commerce.
We will have the technology
Corporate and academic America depend upon the research and technology that moves us closer to new horizons and economic advancement. The way in which qualified applicants can quickly apply for and receive a payday loan over broadband lines is but one example of how technology makes lives easier. Here are some of the major areas President Obama will address as he strives to support technological advancement in America:
- The United States Government must embrace science if they are serious about making America an innovator once more. This includes financial and philosophical support for invention, competitive technologies and associated job growth
- The Research and Development Tax Credit will be made permanent. By investing in a skilled research and development workforce, President Obama will instill confidence in American firms about investing in research and development domestically
- America’s broadband backbone will be extended to rural and previously unserved or underserved areas. President Obama is firmly behind this agenda, as America has fallen behind a number of countries in terms of broadband connectivity. Maintaining America’s image as a world power and bring information and technological innovation to areas of the country that need assistance are central to Obama’s plan. The Universal Service Fund will play an important role in funding this change
Small business is the backbone of the economy
Despite the stranglehold giants like Wal-Mart appear to have on America’s retail economy, they are not the barometer for our success. Small businesses in all fields carry the hopes and dreams of countless people; the entrepreneurial spirit is vital to American innovation. With it we thrive, without it we stagnate and the economy falters. President Obama recognizes this, which is why the following funding plans are on the agenda:
- Tax Relief, in the form of eliminating capital gains taxes on start-ups and other small businesses, should encourage business (and hence job) creation. A $500 “Making Work Pay” credit would go to most workers and the self-employed will no longer have to pay both employee and employer sides of the payroll tax
- President Obama will create special organizations that support entrepreneurs and start-ups by investing $250 million per year in disadvantaged areas that could benefit from the energy and support of small business success
Success is President Obama’s goal, nothing less
By investing in the improvement of America’s transportation system, technology and small businesses, President Obama will bring the country that much closer to their destination of financial reform. It will be a long, slow road, but the President appears to have the right ideas for lasting change. Your payday loan source remains hopeful. Financial success brings growth and greater freedom for the population. Whether you need a job, a tax break, a better way to get where you need to go or payday loans during times when the paycheck won’t cover an emergency, the direction of America’s economy appears to be headed toward greater freedom of choice. For more on Obama’s economic policy (regarding labor, homeownership and credit card practices), click HERE.
Just like I’ve said before, President Barack Obama’s strategy to get the economy back on track sounds like a great plan. Despite how good it sounds, however, it’s going to take a lot of hard work and cooperation. Repairing an almost demolished economy like the one we currently have is a huge task – too huge for one man alone to repair.
Broadband penetration is so important not just for the US and our economy but for our standing in the global community. But if people won’t use it, there’s only so much good it can do.