Obama Weighs in on Recession, Future

Many Americans today are familiar with the phrase "change we can believe in."

But what "changes" have President Barack Obama made since being sworn into office on Jan. 20, 2009?

He has tried to tackle numerous important issues, such as health care, education and the war in Iraq, but one of the main problems he continues to face has drawn much criticism from others - the recession.

When Obama began his first presidential term, the unemployment rate in this nation was 7.7 percent, compared to a now all-time high of 10 percent one year later.

What happened to the $787 billion economic stimulus bill that was passed into law back in February of 2009?

According to MSNBC.com, more than half of the seven million-plus jobs in our country have been eliminated since the recession began in December of 2007.

On the evening of Jan. 27, 2010, Obama will be giving his State of the Union speech, and some citizens are eager to hear what his next move will be concerning job losses in the U.S.

Republican Fears More Harm Than Good

In mid-November of 2009, Obama said, “The economic growth that we’ve seen has not yet led to the job growth that we desperately need.”

Some would consider this an understatement.

Senior Republican on the Ways and Means Committee, Representative Dave Camp of Michigan, rejects Obama's new ideas.

“What will help middle-class families most is creating jobs and reducing the unemployment rate, but these proposals won’t do either,” Mr. Camp announced. “Moreover, if these proposals are coupled with higher taxes or more mandates on small businesses, the President’s plan could end up making it tougher for middle-class families to find a job.”

Recession Impacts Americans

About 50 percent of Americans who are unemployed said the recession has been a "hardship" on them and caused major life changes, according to a recent nationwide poll of unemployed Americans conducted by the New York Times and CBS News.

In addition, only five percent of people said the recession has not had much of an effect on them. Twenty-two percent think the job market in their area will just get worse.

House Minority Leader John Boehner, a Republican from Ohio, said, "Americans are asking ‘Where are the jobs?’ But none of the proposals outlined by the White House today would, in fact, create jobs...It’s past time for the White House to scrap its job-killing agenda and work in a bipartisan way to create jobs for the American people.”

When will Americans see this "change" that we used to believe?

Obama to Reveal New Five-point Plan

Tomorrow night, Obama will explain a new agenda that could create more jobs for Americans and finally allow the economy to begin to heal.

The five key themes of this plan, according to politico.com, include:

• Nearly doubling the child and dependent care tax credit for middle class families making less than $85,000 a year
• Limiting a student’s federal loan payments to 10 percent of his or her income above a basic living allowance
• Creating a system of automatic workplace IRAs, requiring all employers to give the option for employees to enroll in a direct-deposit IRA
• Expanding tax credits to match retirement savings and enacting new safeguards to protect retirement savings, making it easier for families to plan for retirement
• Expanding support for families balancing work with caring for elderly relatives, helping them manage their multiple responsibilities and allowing seniors to live in the community for as long as possible

Maybe this time promises will turn into actions.