Is Obama a Quick Fix? - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Is Obama a Quick Fix?

If you were expecting a quick fix to the current economic crisis local financial advisors say not so fast.

They say a change of President is not enough to bail the United States out of debt. Barrack Obama is inheriting the largest debt in U.S. history.

And with that on his shoulders, it may prevent him from immediately executing some of the economic improvements he has promised Americans.

While it is up to Obama to prevent a further recession, financial advisors say it will take time for the economy to take a turn upward.

Former College of Business Dean at WTAMU, Dr. Jerry Miller says, "It didn't just start in the last 8 years it started about 25 years ago, and it has grown to where it is now three and a half times larger than our gross domestic product."

And the value of some stocks may also be affected by greater government regulations under Obama.

Asset Planning Groups Dale Buckner says, "In telling corporations and oil companies what they can do and what they can't do and also there is speculation drilling may be affected and we won't be able to drill in as many places. "

But more government involvement will not hurt all industries. Buckner says, "Other industries on the other hand like clean energy might have a huge boost from an Obama presidency."

Some theorize a change in tax distribution will have a positive impact on the economy but there is no telling what Obama's next move will be.

There are talks to improve the economy by providing a second stimulus check. Dr. Miller says that could be just another temporary fix to our growing problem.

 

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