President Barack Obama speaks at a presidential debate before the election. According to the Obama campaign memo, the president plans to reduce the national deficit by more than $4 trillion. AP PHOTO

President Barack Obama was re-elected Nov. 6. In his election night speech he said, “For the United States of America, the best is yet to come.”
In his speech, Obama congratulated Gov. Mitt Romney and Paul Ryan “on a hard-fought campaign.”
“We may have battled fiercely, but it is only because we love this country deeply,” Obama said.
The Obama campaign delivered a 27-point memo called “The New Economic Patriotism: A Plan For Jobs & Middle-Class Security.” The memo describes the details of Obama’s plan for his second term in office.
The memo is divided into seven parts that reveal Obama’s plans for manufacturing jobs, energy, small businesses, education, taxes and deficit, health care, Medicare and Social Security.
According to the memo, the president’s number one plan is to begin “building an economy from the middle class out.” Obama’s first step toward this goal is to create 1 million new manufacturing jobs by 2016.
“I think that 1 million is a reasonable number to get to during a four-year period,” said Trent Rose, a political science professor at BYU-Idaho. “A lot of jobs were lost due to the economic crisis. Obama seems to be doing pretty well on that front.”
The unemployment rate saw a gradual, steady decrease in 2012, staying around eight percent for most of the year. According to the United States Department of Labor, unemployment rates doubled during Obama’s first term, reaching a high of 10 percent.
“I think Obama’s approach to creating jobs sounds like he wants the government to invest in more parts of the private sector,” said John Orr, a senior studying political science. “In order to do this, he is going to have to tax the wealthy. I’m not saying taxing the wealthy is immoral or wrong, but it doesn’t solve the problem with debt and the deficit, because it is to the wealthy to provide jobs.”
According to the Bureau of Labor Statistics, the current unemployment
rate in the United States is 7.9 percent, which is the highest rate at which any president has been re-elected since Franklin D. Roosevelt.
According to the Obama campaign memo, the president plans to cut the United States’ deficit by more than $4 trillion.
The memo states that this will be accomplished “by eliminating special loopholes and tax breaks that benefit big business and the wealthiest.”
The Obama Administration is working on its tax plan geared toward helping the middle class and aiding small businesses.
“One of the main problems in the United States is that there need to be cuts and revenue increases but the government needs to take away some of the loopholes in the tax code. We need more revenue, plus we are spending way too much,” Rose said.
According to the Treasury Department, the national debt was
$10.6 trillion when President Obama took office. Today, the national debt is $16 trillion.
“Congress hasn’t passed an annual budget plan for three years,” Rose said. “They have been passing short-term mechanisms and not long term-plans. In order for the government to operate effectively, we need to see what they are spending before they spend it. If we can’t see ahead to the next year, the government isn’t transparent enough.”
According to Obama’s official plan, the president is confident about the changes that will be taking place during his second term.
“But know this,” Obama said in the memo, “our problems can be solved. Our challenges can be met. We are moving forward, America.”