Stimulus Package to be Debated Monday (2/2) & Global Expectations

On Monday, Senate will initiate debates over the methods and tactics used for economic recovery. In the NYTimes, Martin S. Feldstein, a Harvard economist, stated “When you are filling a hole this big and adding to America’s debt on such a large scale, you need to make sure every dollar is aimed for the economic boost you need.”

Undoubtedly, Obama has his hands full; with political, social, and economic issues both nationally and abroad, and without two pennies to rub together, expectations of the Global community are far higher than in the past. I am also interested to see if having a democratic president in office will actually bring forward the issues that were previously dismissed, such as global warming and education.

To Obama’s credit, less than two weeks in office, he has taken positive steps towards improving relations with the U.S. and Muslim World. His decision to close Guantanamo Bay prison, and his promise to give a speech in a major Muslim capital during is first hundred days in office are two examples illustrating the drastic differences from the former presidency.

Edward Djerejian, a former ambassador, has reiterated that these are “superb first steps,” but still have to be “translated into specific policies.” It makes me wonder to what extent that his drastically different approach will spill over to the reformation of our current economic structure.