Obama has just taken office! What a historic step towards social/racial/gender equality. I am proud to be a witness of history in the making.
However, I think many of us have the feeling of one part excitement mixed with another part nerves. The economy is in the doldrums and will probably get worse. Millions have lost their jobs and there are more to come. Unemployment may hit 10%, economic growth has stagnated and will stay that way for a while, and citizen moral is dismal at best. The government is running out of tools to manage the crisis, and our deficit is ballooning exponentially faster than expected.
By looking at the quantitative data, it’s easy to see the mess we are in, and it’s obvious that the burden of debt will be passed on to the next generation. Despite all the negatives, the intangibles of our next leader will hopefully outweigh everything else. We are desperately in need of a leader who inspires us—someone who makes us proud to be a part of this great country.
There will be more layoffs, more bankruptcies, foreclosures, and the like. Of course you have heard that things will probably get worse before they get better. However, we need to remember that our greatest resource, the American people, is a resilient one. Our resources will be re-allocated towards making products for the new era. Businesses will restructure, get leaner, and re-tool their focus to compete in an ever-competitive global economy.
Opportunity will show itself in the midst of chaos. We need to be hungry again. We are still the most powerful country in the world and we need to start believing it.