So it's now safe to say we have already put the outcome of 2012 general elections in the history books. Campaign dust has already settled and it's now incumbent upon the present leardership to deliver on the promises, it ardently espoused and articulated to the general populace during the campaign. Well, as for the losers, it would be prudent to go back to the drawing board, figure out what went wrong and most importantly learn from the follies of their poll strategy.
There is always a sigh of relief whenever one or a political party wins, or rather, receives a positive outcome of a process. Having said that, winning is not an end in itself, the winner's administration has to demonstrate whether it is actually upto the task. As a leader of world's largest economy, Obama's administration face unprecedented challenge: economic downturn, dwindling cash and credit, dismal sales forecast, and sinking morale. This is not a time to reflect. It is a time to decide, to act, and most importantly to reenergise the general public - with urgency.
Being the second, and the last, term for President Obama, suffice it to say that it should be his order of governing and not the order of campaigning. These are very different skill sets. In the order of governing, it is very much to embrace the opponents and have the ability to say no to some of your fiercest supporters. In campaigning, it is the direct opposite. Embracing the opponents does not mean betrayal to your own. However, at times it takes the ability to say yes to one's opponents. One has to figure out ways on how he can accomplish agenda, realising time is of the essence.
It is also imparatively important to design a sound fiscal program that both contribute to job creation and recovery in the short term. Sound fiscal program will inturn create confidence and fiscal room for a moderate stimulus and will also meet long term imparatives for addressing unsustainable and dangerous fiscal trajectory. In order to put the economy on a sound fiscal footing, more revenues, among other reforms, is a must.
To create more jobs, the government will have to keep tax rate low as they are a direct burden on the resources of the employer. The unemployment rate has recently taken a downward spiral, but again this can be argued that it is primarily because the labor participation rate has also dropped significantly. Consequently being one of the lowest the country has seen in current years.
Another area that the administration needs to put on top of it's agenda is Immigration reforms. This can be done by encouraging gueat-worker-programs, registering illegal immigrants that are in the country today by giving them the right to travel and to work. As long as they are not criminals, they pay their taxes, and finally, as long as they pay a small penulty for having broken the law in the first place.
Last but not least, Obama's administration will have to work on the foreign policy. Well, so far he has gone the extra mile to solicit the support to the American people, allies, and the international community. To his credit, he has improved America's standing abroad. Obama's administration will now need to chart a clearer course that champions the ongoing struggle for freedom and markets in a world in which despots still prefer to use force and regulations.