by Odemgbe

Created on: December 29, 2008

The American dream has just become reality: after fighting a civil war over the Abolition of slavery, there is an African American president with a Muslim name! This epochal event occurred when enormous challenges face the United States. The challenges include an economy in recession, a failing health system at home, an energy crisis, a worsening situation in Afghanistan

and Iraq and escalating crisis in Israel.

The economic recession is the biggest challenge facing President Obama.The crisis arose because mortgagors provided credit facilities to mortgagees without adequate collateral and an appropriate payback period. This led to a huge deficit of bad loans and has discouraged banks from giving loans. The effect of this was a crash in the Stock exchange, reduced earnings for quoted companies because of decreasing consumption and bankruptcy in all sectors. The recession spread round the world and worsened as trade deficits increased. The solution would be the use of Foreign Direct Investment to determine market share. Debts must be rescheduled and banks must abide by regulations guiding loan facilities. The educational institutions should be tax havens. This could reduce unemployment queues and the recurrent expenditure facing employers of labor and this will lead to deflation. American families seeking mortgage must have a multiple income stream to have access to the credit facility. This reduces the risk and the strain associated with linear incomes.

The health system in the United States has been criticized for catering for only the rich, inept prescriptions drugs management and expensive health insurance. This has a negative impact on pensioners who have the highest healthcare requirements. Consumer cooperatives can provide installment payment for investment and patronage. eHealth reduces procurement costs and ensures availability of drugs and medical services. Mobile clinics and dispensaries can enable increased reach especially targeting rural areas. Paramedic interns can reduce the workload facing medical personnel. This develops manpower at little or no cost.

The energy crisis is a daunting challenge that has surpassed the intellectual capabilities of previous presidents. The dependency on Middle East oil leaves the US
economy vulnerable to the vagaries of International Politics. High costs lead to hyperinflation and could lead to the downfall of any US Government. Exploring local sources and alternative energy sources can resolve this crisis. Franchising

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