If you listen to the pundits and believe the polls, it is increasingly clear Barack Obama will be the next President of the United States. With this in mind I have looked into all of his campaign promises and plans for his first term in office. Throughout his campaign he has made it perfectly clear that he intends to be a two term President. With the current state of our economy I have only looked at what could be the results a first term Obama Administration.
It is unclear if President Bush and his Administration can stop the downward spiral our economy and the market is experiencing. The results of the actions he has taken to calm the markets and free up credit will not be known until after the election. For the sake of argument I have looked into the future with an optimistic view. I have given our economy and markets the benefit of doubt and see President Obama inheriting an economy/market on the rise and the job market showing a modest increase.
After his inauguration and keeping to his campaign promises, President Obama will announce our immediate withdrawal from Iraq starting in February 2009 and ending in August 2010.
He will submit to Congress his tax plan to repeal the Bush tax cuts, institute a windfall profits tax on oil companies, raise corporate tax rates and mandate that all small business with ten or more employees and a gross income level above $250,000, provide health care for their employees.
The immediate results of President Obama's action will be Russia signing a mutual defense agreement with Venezuela allowing Russian missiles to be placed in Venezuela and declaring any attack on Venezuela will be considered an attack on Russia. President Obama will declare this unacceptable,call for a meeting with the Russian President and call for sanctions against Russia if they place missiles on Venezuelan soil.
Iran will call for immediate talks with high level Administration officials to plan for talks between Obama and Ahmadinejad. Obama will agree and send his Secretary of State to Iran to work out the details of their meeting. After the Secretary of State returns, Obama will announce a Camp David Summit will be held and Ahmadinejad' agreement to negotiate his country's plans for nuclear plants in Iran.
Obama will emerge from Camp David and announce Ahmadinejad has agreed to allow limited inspections of their nuclear power plants and they have no intentions of using nuclear weapons against Israel. Iran will also promise to help America in our effort to reduce the increased attacks on our troops in Afghanistan. Of course the inspections will continue to be stalled by Iranian bureaucrats until the dirty little secret comes out that Iran has finally obtained a nuclear weapon from North Korea that is capable of striking Israel. We will also learn that Iran has been secretly arming the Taliban and Al Qaeda in Pakistan. Obama will announce a summit meeting with our European Allies to deal with both the Russian and Iranian threats.
The corporate tax increase will cause large corporations to immediately announce a corporate wide job freeze and an immediate restructuring of all domestic operations. Foreign corporations like Toyota and Honda will reconsider building products in the United States. Most small businesses will not be exempt from the new taxes and insurance mandates because the law will be defined as "Companies with a Gross Income Level below $250,00 are exempt." As small business owners learn they cannot deduct normal business expenditures from their gross income to qualify as a small business they begin to close their companies and file for bankruptcy.
With the increased cost of foreign oil, a double digit unemployment rate, and increased tensions around the world, markets and economies will crash by the summer of 2010. Chaos will return to the Middle East, Russia will move on Georgia and Ukraine, we will retreat from Iraq and Afghanistan and the world will be on the brink of WWIII.
Most people especially Obama supporters will shrug this off as fear mongering or the predictions of a madman. I would ask you to take a close look at the man and explain how, with the world economy and the threats we face from abroad, can Obama keep the promises he has made. To this date he still refuses to admit he will not be able to keep all of these promises. To Obama it is inconceivable to believe Putin or Ahmadinejad would think Obama would be another weak Jimmy Carter. He doesn't understand that to people like this the word negotiate is the same as surrender.