The presidency of Barack Obama is historically distinct and completely unique from every presidency that America as a nation has ever seen, experienced or witnessed since this nation was founded in 1776 as a sovereign independent union of 13 original colonies from the British imperialism. Barack Obama entered into his presidency in 2008 by changing history and the American nation. His first term presidency will be remembered by time, posterity and history for the many reasons that I have stated below .
President Barack Obama officially began the second term of his presidency shortly before 12pm ET in a private ceremony where he took the official oath of office. The only one, but the most important question that the historians in the future, the American citizens of today and whole world in general will be asking is this:what are the legacies of his first term in the White House?
President Barack Obama succeeded in stopping the unabated economic collapse of the entire America's capitalist market systems that started under his predecessor from grounding to a final halt in his first term in the White House despite the worst Republican oppositions that he faced in the United States Congress. President Barack Obama also succeeded in passing a comprehensive and a universal health care law for all Americans for the first time in the history of this union.
The Wall Street today has the most comprehensive reforms (Dodd-Frank Bill) in decades against their risky business practices that collapsed the entire American economy in 2008. The war of choice in Iraq is now over and history. The war in Afghanistan is now scaled down with an ending date of 2014. The "D'ont Ask, D'ont Tell law" is now the order of the day in the entire United States Armed Forces. The country now has "an equal work for equal pay law" that entered the decades of employment discrimination against women in America. The college students in America are now enjoying the lowest interest rates on their college loans. The credit card companies are now prevented by law from raising the interest rates of their borrowers at will for their monthly loan defaults.
President Barack Obama has now issued the most comprehensive immigration reforms in decades by his executive order that now allows those that entered America illegally to remain and work here without any fear of deportation for at least two years. The middle class Americans are now enjoying the lowest tax rates today and the tax rates for the rich Americans are now back to the 39% plus under the Clinton presidency. Obama has also reduced the nation's deficits and with the lowest government spending more than his predecessors in office.
Today marks the beginning of his second and the last term in the White House with many stones yet unturned in America in particular and the world in general. The following things will confront the presidency of Barack Obama in his second term in the White House:(i) The growing national debt that stands at $16 trillion today that is now almost unmanageable and it is almost equal to the nation's annual GDP. (II) The unemployment rate that stands at 7.8% or 14 million unemployed Americans. The millions of Americans that are still facing or may face foreclosures.
(iii) A comprehensive tax reforms that address unfair taxation in America that favors the rich and the corporate America. (iv) A comprehensive immigration reform that will address the estimated 11-20 million undocumented aliens in America today. (v) A comprehensive national energy policy that will reduce America's dependency on foreign oil and the climate change. (vi) An effective national education policy that will adresses our failing public education. (vii) How to stop Iran and North Korea from acquiring nuclear bombs. (viii) How to resolve the age long Israel- Palestinian conflict. (ix) Global terrorism.
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