by Phoebe Odingo

Created on: November 18, 2008   Last Updated: January 16, 2009

With meltdown on wall street, the financial crisis looms very on the priority list. The real estate market is crushing and the auto industry is not fairing any better. The unemployment rate is increasing every month. To make it worse, the US is involved in two wars in the middle east; Iran is in the process of developing nuclear weapons; North Korea is still developing nuclear material. In other words, Barack Obama has his work cut out for him. His challenge I believe, is to prioritize and ensure that he and his administration are practical in their approach. If they embark on tackling the issues that have a direct impact on the economy, his first 100 days will have been a success.

His plight is very similar to that of Franklin D Roosevelt's when he took office. From his rhetoric, I gather that Obama knows his History. He has a good sense of what would be practical and implementable. His has the abilty to inspire confidence in people . Consumer confidence is absolutely paramount in the economic recovery.

On top of his agenda should be the real estate market. He has talked about a moratorium on foreclosures which is very significant. Banks should work with lenders to ensure that consumers get relief. President Obama should also push for regulations that would stop speculators on wall street from influencing the markets.

Next he should insist on a rescue plan for the auto industry which is the backbone of the US job market. Just like what the former president Bush did, Pesident Obama should proceed with his plan to push for another stimulus package. This one as he promised would be geared toward allowing people wo withdraw from their 401k accounts without incurring penalty for a period of time.

Tax rates should revert to the way they were in the 90s. What that means is that those earning more than $250,000 would go back to payong taxes at a rate of 39% as opposed to 36 %. Tax breaks to the rich that has been at the peril of the middle class should be rolled back. With more relief to the middleclass, the economy has a better chance of recovering faster.

I'm reassured by the presence of the governor of Michigan on Obama's transition team. Since Detroit is the auto industry's, her input will be invaluable in the first 100 days.

With his great disposition and a willingness to listen to different voices even those in dissent, I believe his first 100 days in office, like his campaign will be a pleasant surprise to a lot of people.

What is paramount is to have the right people around him. From the look of things, he seems to have some very able people assisting him. All he has to do is implement what they're suggesting and he would be the hero.

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