Public Watchdog

Today, America decides in an election expected — barring any unforeseen developments — to catapult Senator Barack Obama to the Oval office as President of the United States.

At the outset, Public Watchdog joins this paper in endorsing Obama as the favoured candidate to be the next president of the US. The ushering in of an Obama presidency will be an historic development, being the first time a black person ascends to the American presidency.

Obama will most certainly win today’s election as millions of Americans make their verdict. This win will not, however, be because he is of an African American decent, but rather because, he has demonstrated the credentials to lead.

In a competitive political system, Obama has already made history in trouncing political heavyweights to win his party’s nomination. He fought a serious battle to upset Senate colleague and former First Lady, Hillary Clinton, a perceived frontrunner in the primaries.

Thus, it was through a competitive process and proven leadership skills that has continued to endear him to millions.

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Further, as the Democrat’s nominee, Obama has not only inspired Americans, but also generated much interests and hope for the rest of the world. He has articulated clearly what he stands for as a person, a leader with respect to domestic, as well as international affairs.

His win today, will certainly be received with frenzy and unseen effervescence in America, as well as across the world.

We aver that an Obama administration would not only reshape the American political landscape, but also usher in an era of constructive engagement and partnership with the rest of the world. It is, however, pertinent to underscore that the next president is confronted with myriads of domestic and international challenges.

His administration faces an insatiable level of hope and expectation, which is always a major political risk, compounded by desperate domestic and global economic challenges.

The American economy is experiencing serious structural challenges, which has seen near collapse of the financial system and threaten global financial stability.

CHALLENGES

Secondly, the banking system and population have been weighed down by massive debt. Poor-quality debt with respect to mortgages has resulted in serious cases of widespread defaults. The foreclosures resulted in a liquidity crunch that saw near-collapse of major banks and a massive financial bailout programme.

The US Congress and Government last month agreed on a $700 billion bailout to the American financial system. This is part of measures aimed at preventing global systemic risks due to counterparty international obligations, as well as inter-bank financial obligations.

The financial infusion is further aimed at averting the collapse of the financial system and minimising the recessionary impact of the crisis, as well as protecting confidence and value of the dollar as means of international trade.

Thus, there are compelling demands that could prove an anticlimax, unless the next president reorients his administration’s priorities with those that shall have maximum impact in alleviating the teething challenges at home. Indeed, he must of necessity focus on determined domestic economy priority agenda, as he re-navigates his foreign policy priorities.

Thirdly, during the campaign debates, Obama has repeatedly expressed his desire to reconstruct America’s damaged image overseas. This position is informed by allegations of a growing discontent in many parts of world due to perceived assertiveness of George W Bush’s administration on global issues.

The fundamental question remains: What would an Obama presidency portend in the global arena? One thing, which is certainly clear is that it would not be business as usual. The new administration must seek to reach out to many disgruntled American allies in Middle East and the rest of the world to develop common understandings. It would absolutely be critical to start early constructive and pro-active engagements across the globe so to bridge areas of divergence of views and achieve a working convergence for mutual benefits.

The global war on terrorism remains a sustained engagement, while Iraq and Afghanistan are still conflict zones. A President Obama will soon admit there is no easy exit strategy, as it will take a slow and delicate balancing act to win the confidence of all actors.

This must be through collaborative international efforts built on trust, confidence and demonstrated shift of policy.

Finally, a President Obama will soon realise that the system will not grant him all his wishes, as shall soon be demonstrated in the Senate’s vetting hearings of chosen appointees.

It is also this area that offers the greatest opportunity to quickly change policy course and approach with new experts. Thanks to this unique American culture and requirement, at least 3,000 senior positions are deemed vacant to allow an incoming administration to reconstruct afresh with desired experts and loyalties. It is further, in these appointments that the success of President Obama’s administration shall be cast around and structure.

This is a matter of great public interest.

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