Obama Assignment Essay Example | Topics and Well Written Essays - 500 words

Obama Assignment - Essay Example e represent opportunities for a truly unprecedented series of changes that could change the way that the world thinks about America, and America about itself. The organisation of the U.S. government system in general, is fundamentally based on promoting American capitalism at its core, and unless a change in this vital paradigm is brought about it is difficult to achieve a shift in public policy. Obama has said that America must be as careful in withdrawing troops as it was careless in going to war – but at the heart of the matter is the bigger question of newly-acquired U.S. oil interests in Iraq, with one of the world’s major untapped resources. It is difficult to envisage the current U.S. administration to admit that there are vested economic interests in the war, and current political structure would certainly discourage the U.S. from making a U-turn. In turn, it is also linked to the energy crisis, as it will take time for America to build its renewable energy rese rves, and thus oil-related geopolitical considerations would continue for a while. The cost of war is another issue : American firms rebuilding Iraq are also part of the complex geopolitical chain of economic considerations. Even Obama’s personal profile and acceptability in the Arab world will hardly make it any easier to address this vital issue. Influencing public policy in this regard is likely to remain a major challenge fir the foreseeable future. Regarding the credit crisis and its effect on the American economy, the challenges are even greater. Obama’s agenda to create more jobs for Americans means that the existing credit-fuelled structure of the American market place has to be changed. Housing is one of the mainstays of American economic activity : to cause a shift to this will be a monumental task, as the housing sector is likely to stay depressed for a longer period of time. Obama will face an uphill task with the Congress to raise minimum wages, amend NAFTA to benefit