The Business Plan for American Revival - Book Report/Review Example

The Business Plan for American Revival After Obama won the election in 2008, there were high hopes of revival of the US economy. After four years in power, Obama had little impact on the growth of the US economy. This four year term aspired to the former dynamics employed by Abraham Lincoln and his cabinet where US was revived by former antagonists and competitors during the civil war. Thus, the model to emulate is the historical great depression during Frank Roosevelt’s term as the US President. This implies that if Dorris Goodwin was in charge of the historical aspiration, then as the ‘Team of rivals’ leader, she would have derived the recovery mission . The Roosevelt administration had a great bitterness with the other business community in 1930s. It is evident that several executives deplored unto the president’s policies and regulations. They also refused to call him by and referred to him as, “the man in white house”. The president later welcomed his competitor’s hatred and declared this during the 1963 campaigns back to white house. The adversary from US defeated Japan and Germany before the Pearl Harbor was bombed. What was the effect of the bombing to the Harbor? It is alleged that there was a rampant upsurge to the industrial production and this would actually lift the American economy and crush the Axis Power. Therefore what contributed to the revival of the US economy during the reign of Roosevelt? First, Roosevelt contributed by showing exemplary leadership skills. More so, business strategies that US had set in place contributed highly towards the economic growth of US. Based on the historical uprising and revival of the US economy, the relationship between the major business communities in America and Obama’s government has deteriorated. The relation is unproductive and is straining due to various hindrances. Thus, what will be importance of election in this case? From a political point of view, election is the basis of forming a productive relationship between the government and the business community. The Americans should not take another term to ensure that squabbling in government s over and there is progress. Thus, the Americas are looking forward to have a united government. This implies that the two parties should unite and make progress to boost the county’s economy. It is also evident that the challenges faced by the Americans are not similar to those during the Second World War. However, to meet these challenges, the people must be willing and ready to cooperate and dedicated their abilities and time and not rely on the political parties alone. Furthermore, reconciliation and compromise will help in the revival of the economy. What the n should Americans do to ensure that the economy of the country is revived? First, the government should give the economy a more stimulative jolt and minimize on the risk of occurrence of a double recession. The fragile recovery of the economy will be derailed by the budgetary and tax cuts which take effect from January first.the agreement between political parties that aim at coping with fiscal cliff should have a shared sacrifice and be flexible to ideas that some partners in the political parties will be unwilling to allow. This means that the business people should take responsibility and act in the revival course of the recession. The business community should also talk about significant opportunities which will come from the positive view of the American economy. This is because more cash is not in circulation especially in the nonfinancial companies which have trillion dollars idle in their balance sheets. More so, the capital expenditures of most companies in US is at anemic levels and increase in the tax rates will automatically lead to growth of the economy and cycle of jobs. In another research by the government agencies, the US government and the business community should restore the lost confidence in the public finances. From the report, it is clear that the government currently enjoys modest inflation and low interest rates. Thus, how will these two aspects increase? The growing debit and the government budget deficit will automatically lead to a huge increase in the interest rates and reduce on the inflation. Furthermore, it implies that there should be a grand fiscal bargain by use of Simpson-Bowles plans for instance as the focal point. This will eventually include the entitlement reform, cut on spending and increase the revenue. It therefore implies that some of these reforms should be enforced immediately but to avoid recession risk, they can be implemented later. Furthermore, the business community strongly supports inclusion of the bipartisan fiscal accord although I believe that increase in tax for the rich is appropriate only if it is joined by cuts in entitlements and spending. More so, several company CEOs strongly agree that decrease in spending and increase in tax revenues is the comprehensive solution to the debt problem. In addition, to curb the recession, the government should keep the marginal tax rates as low as possible. It is evident that there has been lack of serious reforms in the in solving the federal and complexity of the codes. It is advisable that increase or broadening of the personal income tax will generate more revenue. However, minimizing of the personal income tax will increase the marginal rates which lead to a robust growth. In this case, the Obama government has forged to reduce income tax rate. Therefore, the business community should work with the administration to come up with tax regulations which will bolster investment and retain the tax system. To make sure that these proposals have been adhered to, the US government should come up with the immigration reform. The government should ensure that talented people easily access the permit to work in US. For instance, the government should ensure that all the foreign students willing to work in US are eligible to work permanently in US. The government should remove any cap for the skilled workers and promising entrepreneurs to create and work in US. Therefore as a concerned citizen, I have ensured that I maximize on my opportunities in class work and as a young entrepreneur. I have come up with two registered companies which offer employment to over twenty Americans. This is one way of reviving the economy of this country. I am ready to support Obama in the revival process of the US economy. Works Cited Blankfein, Llyod. Llyod Blankfein: The Business Plan for American Revival. November 13 2012. Web November 17 2012. Read More