Sunday, March 29, 2015

Obama's job? Save the world. Or pretty much.

Not to put too fine a point on it, but Obama, along with bailing out the American middle class, winning two wars, fixing health care, and solving global warming, is also expected to "save capitalism." That's the word from Newsweek: "While there has been much elation over Obama's election, there remains a deep pessimism across the country that is having adverse effects on the economy. People and corporations are still not doing much by way of buying, borrowing or lending —the heartbeats of modern capitalism. The political system has moved on to the automobile bailouts and the fiscal stimulus, but the original problem of trust in the financial system has still not been fixed. "Credit markets are still fundamentally broken," says David Swensen, chief investment officer of Yale University. How to restore confidence? It's not as easy as it sounds..." Click here for Philly.com's politics page.

Obama's job? Save the world. Or pretty much.


Not to put too fine a point on it, but Obama, along with bailing out the American middle class, winning two wars, fixing health care, and solving global warming, is also expected to "save capitalism."

That's the word from Newsweek:

"While there has been much elation over Obama's election, there remains a deep pessimism across the country that is having adverse effects on the economy. People and corporations are still not doing much by way of buying, borrowing or lending —the heartbeats of modern capitalism. The political system has moved on to the automobile bailouts and the fiscal stimulus, but the original problem of trust in the financial system has still not been fixed. "Credit markets are still fundamentally broken," says David Swensen, chief investment officer of Yale University.

How to restore confidence? It's not as easy as it sounds..."


Click here for Philly.com's politics page.

About this blog

The Inauguration: Jan. 20 blog brings you coverage of President-elect Barack Obama's transition into office.

It's written by political journalists from the Philadelphia Inquirer. Send us your comments -- and news tips -- at this address.

Thomas FitzgeraldThomas Fitzgerald joined The Philadelphia Inquirer in 2000, and has covered Harrisburg as well as city, state and national politics for the newspaper. He was a “boy on the bus” in the 2004 presidential campaign and during primary contests in 2000 and 1996.

Nathan Gorenstein has covered politics and government in the city, state and nation for the Inquirer. He's worked in the city hall bureau, had a stint on the business desk, and once covered the suburbs. After serving as assistant regional editor, he was named editor of the "Politics" web site.

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