After four years of progressive decisions, a hard fought battle for re-election against Republican challenger Mitt Romney, and a nail biting election day, Barack Obama has secured his second and final tenure as United States President. In the wake of hurricane Sandy, as FEMA began to garner approval from a hesitant population as it reached out to help the victims of the massive storm, there was cheering, there was murmuring, and there was silence.
I received a note from a huge supporter for President Obama this morning on my way to work, with a very short question:
"What are his plans for the next four years?"
That's a very loaded question. I asked a friend of mine the same question a few days ago, and our conversation also drew a strange blank. During the presidential debates with Mitt Romney, it was not generally clear how Obama planned to move forward, according to a number of people from around the country. That uncertainty helped breed the close race that we witnessed last night until the achievement of securing Ohio. Only then was President Obama able to line up all of his ducks in a row and win re-election.
I'm more inclined to stick with my penchant for writing about business and the effects of politics on business, so we will continue to cruise forward into those familiar waters. There are a few sharks in the water, so please keep your arms in the boat at all times, and if you have a camera, carefully take pictures when you can.
The following subjects President Obama will HAVE to deal with:
- The Fiscal Cliff is the first subject looming on everyone's mind. No doubt the president will need to address this issue quickly as there is a deadline.
- With "Obamacare" going into effect, businesses have already been fearing the change of the rules, and many will likely shed jobs in order to stay within specific requirements and avoid extra payments and extra taxation.
- Due to the possible reduction of jobs by businesses, the United States stock market is already threatening to drop, but not likely crash. For businesses that now rely on the stock market, this could provide a struggle.
- Wealthier businessmen and women are less likely to create jobs at companies that they own due to extra taxes that they will be forced to pay if they qualify as the 1%.
I am neither stating support for President Obama nor am I stating that I don't support him. I'm simply pointing out that while we have a struggling economy, there is fear of the unknown in the business world. There is a struggle ahead, and various business leaders have been concerned with what they perceive to be a lack of a plan for the next four years.
For those who happen to be Star Trek fans, we're on the Enterprise with a captain that hasn't been given any orders and has not issued any directions. We're staring out at the rest of the universe with a fear of the unknown, hoping to find out what the plan is so we can move forward. The greatest area of fear can now be found in the corporate and private sectors, desperate to help improve the economy, but scared to be penalized in the process.