Looking back, looking ahead
Once in a blue moon the year ends on an up note for the U.S. President, and this may be that year. Not only are housing prices stabilizing after countless months in free-fall, but according to Reuters the, “number of U.S. workers filing new applications for jobless benefits unexpectedly fell last week to the lowest level in about 17 months, suggesting the economy might be on the cusp of creating jobs.” All the more remarkable when you factor in that typically initial claims rise at this time of year.
We’re not done with the foreclosure mess, the economy is certainly far from robust, and too many Americans can’t find rewarding jobs. Unemployment remains basically at 10%, but the situation seems to have stopped getting worse, and that helped the value of the U.S. dollar rebound, too.
The fall in jobless claims is, “consistent with a slow, steady improvement in the labor market,” according to Robert MacIntosh, the chief economist at Eaton Vance Corp in Boston. “We’re not out of the woods, but this is what you want to see.” The government took steps that ensured reversal of the recession brought on by the well-documented, risky games being played by banks, so while it took time for the impact to spread the economy is out of the intensive care unit.
Partisan posturing continues to complicate other major initiatives of the new administration, and hold up nominees to key posts such the new head of the TSA, but Obama should be able to to devote more of his attention now to the pressing matters on the international front and insuring progress continues on health care insurance reform.
The President was joined by the First Lady in his last weekly address of the calendar year as they celebrated Christmas. They both honor those who have sacrificed for their country at home and abroad, and the families that stand by them.
On the whole, and without ignoring the assault on a U.S. bound international flight as it arrived in Detroit on Christmas Day, the administration has accomplished more than most thought possible during the first year with the GOP steadfastly saying, “no,” at every opportunity – but there’s a lot of work ahead for 2010.
We’ve seen the need for lobbying reform, and that the state of our counter-terrorism efforts is still imperfect despite the vast revamping undertaken in the wake of September 11, 2001. Our armed forces remain stretched thin as we return our focus to Afghanistan as one of the keys to buttressing our national security – and we urgently need to put Americans back to work, hopefully in part to replace our energy infrastructure with new, greener alternatives that demonstrate to the world our commitment to be a good neighbor.
