Comments on: An evaluation of the first 200 days of Obama economics http://www.eastasiaforum.org/2009/08/10/an-evaluation-of-the-first-200-days-of-obama-economics/ Economics, Politics and Public Policy in East Asia and the Pacific Sun, 12 Feb 2012 22:50:38 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Dominichttp://www.eastasiaforum.org/2009/08/10/an-evaluation-of-the-first-200-days-of-obama-economics/comment-page-1/#comment-49647 Dominic Wed, 12 Aug 2009 15:44:12 +0000 http://www.eastasiaforum.org/?p=6360#comment-49647 Doug, In terms of signing the bailout, that was Bush. I agree, it seemed like Obama was running the country weeks before the election, but we can't count major legislative achievements he won when he was still a candidate! (even if one of them was stopping widespread financial panic simply by being the calmest guy in the room) Of course Professor Frankel, being an economist, focused on Obama's economic successes, so if we want to nit pic at things he left out, I'd include restoring habeas corpus, dramatically turning down the heat between the US and Islam, changing the direction of two wars, funding a national electronic health record system, tripling the budget of the USDA and appointing a physicist as Energy Secretary to oversee a shift toward a sustainable energy system, restoring the role of science in the US generally, making a bunch of other excellent appointments (who'd have thought Hillary would be so good in State?), speaking of which... securing the release of two idiots from the DPRK and getting the first hard intel on KJI's health, and lets not forget his main achievement, which was completed within seconds of officially becoming POTUS (before he even managed to stumble the oath out): setting up an excellent White House blog. He also made the funny photo at the G20 look cool, and if he's chief Asia diplomat is to be believed, found time to become BFFs with Our Kev. And of course he just confirmed an hispanic woman to the Supreme court, but that was on the 201st day, so it doesn't count. Doug,

In terms of signing the bailout, that was Bush. I agree, it seemed like Obama was running the country weeks before the election, but we can’t count major legislative achievements he won when he was still a candidate! (even if one of them was stopping widespread financial panic simply by being the calmest guy in the room)

Of course Professor Frankel, being an economist, focused on Obama’s economic successes, so if we want to nit pic at things he left out, I’d include restoring habeas corpus, dramatically turning down the heat between the US and Islam, changing the direction of two wars, funding a national electronic health record system, tripling the budget of the USDA and appointing a physicist as Energy Secretary to oversee a shift toward a sustainable energy system, restoring the role of science in the US generally, making a bunch of other excellent appointments (who’d have thought Hillary would be so good in State?), speaking of which… securing the release of two idiots from the DPRK and getting the first hard intel on KJI’s health, and lets not forget his main achievement, which was completed within seconds of officially becoming POTUS (before he even managed to stumble the oath out): setting up an excellent White House blog.

He also made the funny photo at the G20 look cool, and if he’s chief Asia diplomat is to be believed, found time to become BFFs with Our Kev.

And of course he just confirmed an hispanic woman to the Supreme court, but that was on the 201st day, so it doesn’t count.

]]> By: Doug Ostromhttp://www.eastasiaforum.org/2009/08/10/an-evaluation-of-the-first-200-days-of-obama-economics/comment-page-1/#comment-49571 Doug Ostrom Wed, 12 Aug 2009 08:51:38 +0000 http://www.eastasiaforum.org/?p=6360#comment-49571 Professor Frankel did not mention the bailout, bankruptcy and emergence from bankruptcy of two of the Big Three automakers, all in the space of 200 days. The desirability of such a course may not be clear, but I think most would agree that the implementation of the plan was quite skillful. Professor Frankel did not mention the bailout, bankruptcy and emergence from bankruptcy of two of the Big Three automakers, all in the space of 200 days. The desirability of such a course may not be clear, but I think most would agree that the implementation of the plan was quite skillful.

]]> By: Lincoln Funghttp://www.eastasiaforum.org/2009/08/10/an-evaluation-of-the-first-200-days-of-obama-economics/comment-page-1/#comment-48974 Lincoln Fung Mon, 10 Aug 2009 07:27:35 +0000 http://www.eastasiaforum.org/?p=6360#comment-48974 This is a very rosy assessment, although it may well be correct. Likely problems will emerge over time in the coming years. They are likely to be associated with the speed of the recovery will be over the next 2 to 5 years. Will it be another Japan's 1990s, if consumer spending and firm investment take a hit due to reduced assets and demand? Or will the US be shrug off that dilemma and this great recession would have been a just a big scare? That remains to be seen. Further, how the anticipated consumer adjustment in terms of spending and saving affect the growth in the next few years? That is also likely to affect the growth scenario. What about any further international competitiveness, due to continued improvement in the competitiveness from big developing countries such as China and India? So, it is too early to cast a sure judgement, yet. But I sincerely wish/hope Professor Jeffrey Frankel is correct in his early assessment, because that will be good for not only the US but also the whole world. This is a very rosy assessment, although it may well be correct.
Likely problems will emerge over time in the coming years. They are likely to be associated with the speed of the recovery will be over the next 2 to 5 years. Will it be another Japan’s 1990s, if consumer spending and firm investment take a hit due to reduced assets and demand? Or will the US be shrug off that dilemma and this great recession would have been a just a big scare? That remains to be seen.
Further, how the anticipated consumer adjustment in terms of spending and saving affect the growth in the next few years? That is also likely to affect the growth scenario.
What about any further international competitiveness, due to continued improvement in the competitiveness from big developing countries such as China and India?
So, it is too early to cast a sure judgement, yet. But I sincerely wish/hope Professor Jeffrey Frankel is correct in his early assessment, because that will be good for not only the US but also the whole world.

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