Yesterday evening, I watched history being made when Barack Hussein Obama II was elected the President of the United States. For me, the historical importance had nothing to do with his race or color, but it had everything to do with a number of critical issues that are of importance to not only the US, but the world.

1. Economy and taxes. I am not quite as worried about the economy as others might be, because I believe the equity markets overreact to news, oftentimes increasing the perception of economic problems. I am convinced that credit markets need restructuring and the world banking system needs to restructure so that their capitalization funds their credit. I am also convinced that both John McCain and Obama would have needed to raise taxes. That being said, I am confident that Obama, with a Democratic congress will be able to provide the right stimulus package, the right stimulus package, and the level of regulatory control over the banking system that will be required.
2. Environment. Time to fix this. McCain’s “drill baby drill” did not instill any confidence in this writer that McCain would be able to end the conservative paradigms concerning the world’s environment. The US consumes over 20 million barrels of oil per day. The US produces about 7.5 million barrels of oil per day. The US has total proven reserves of 21.8 billion barrels of oil, so if the country drills every drop, there are there is just over 3 years of oil. “Drill baby drill” just isn’t going to work.
3. Iraq. Time to come home. And for those who think this represents a lack of support for our troops. Well, no, nothing of the sort. In fact, so that our troops aren’t being shot and maimed, it’s support. For those troops who might be losing their houses to foreclosure, then getting them home is support. And for those troops whose families are suffering through a bad economy, saving the billions of dollars is really supporting them. Time to come home.
4. Social issues. Enough with the discussion about gay marriage, prayer in schools, creationism, and abortion. They have nothing to do with government, and the Republican party’s kowtowing to the Christian right instead of focusing on the economy and the world is their downfall. Religion doesn’t belong in politics. Period.
5. The World. The US economy is inextricably intertwined in a world economy. A strong world economy brings peace to the world. This is a simple equation that George W Bush seemed to fail to understand.

To me, the election was a logical conclusion to the needs of middle-class Americans. Obama may well have been the best answer to the needs of the US at this time. But, and there is always a “but”, he needs to step away from the election and confirm that the faith that Americans have put into his election is well-founded. But that’s a discussion for another day.

By Michael W Simpson

Tags: 2008 US Election, Obama