Facts

Everyone inside and outside of the U.S. is waiting for President-elect Barack Obama to take office on January 20th. This wait is not related to the importance of the U.S. role at the universal political level, which gives the American office a permanent importance. But the world economic crisis is waiting for a great and urgent intervention in order to limit the waves of a recession, which started to spread and expand inside the U.S. and throughout the world at least on the basis that the American market is the greatest in the world.

Moreover, the U.S. is the biggest importer of goods and services. Thus, the expansion of the scope of the American recession increases by starting the complaints in various industries because of the existing interlocking sectors of any new economy. The recession therefore becomes an interdependent chain that moves very quickly between industries and sectors if there is no definite intervention in order to stop it.

In fact, the news mentioned that the impediment of the American steel industry called the U.S. President-elect for implementing a public works plan, the investments of which could reach a trillion dollars during the next two years in order to support the demand for the American steel industry. This plan came after the decrease of the production of steel by 50% since last September to reach its minimum levels since more than twenty years due to the recession, from which the construction sector and the cars’ production sector suffer.

Therefore, the President-elect will preponderantly meet Congressional leaders to research ways of improving the American economy as Obama’s team is developing a plan with total investments that exceed 700 billion dollars. Meanwhile, some Congressional members from the Democratic party demand to increase the investments of the plan to reach approximately trillion dollars (one thousand billion dollars), which will be the biggest expenditure on investment, especially in the fields of infrastructure since the creation of the federal highway system in the 1950s. The investment will be in building huge transportation systems, bridges, electrical grids, schools, hospitals and water treatment plants.

It is worth mentioning that the whole world, especially the largest exporters to the U.S. like China, Japan, Canada, Mexico, Europe and other countries also aspire to Obama’s definite intervention to stop the recession path. Thereby, this will allow these countries to resume the increase of their exports to the U.S., which represents solely around a quarter of the world mass production.