Obamanomics: How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics (Economics in the Obama Presidency)

by John R. Talbott

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Barack Obama’s greatest strength has been his ability to bring the country together in a meaningful dialog. For far too long the divisions among races, religions, cultures, and genders have prevented Americans from coming together to solve the most important problems of our generation:

Environment and energy shortages
Mortgage and housing crises
War and terrorism
Healthcare and Social Security
Poverty in the world’s richest nation

As the Obama administration takes on the current economic crisis amid accusations of planning a socialist system, economics and political writer John R. Talbott argues that such complex problems found both at home and abroad cannot just be left to the actions of government or the free market business world, or the Bush administration's version of Reagonomics that still sticks to a “trickle-down” policy.

The change that Talbott sees from a Barack Obama presidency is one based on justice and cooperation, principles that have not held sway in Washington, DC for a very long time. Obamanomics, infused with Obama’s speeches, campaign policy statements, and other writings, describes not just a government but a NATION acting according to democratic principles to reform lobbying, banking, and housing as well as restore economic growth, address the healthcare system, improve education, and find solutions to our aging population and declining energy sources.

Once emphasis is placed on citizen involvement, real solutions become apparent to our most pressing problems. The American values of goodness, justice, and fairness is reflected in this man with roots from Kenya, Kansas, Hawaii, and Illinois can once again be incorporated into our economic and financial system.

A former investment banker for Goldman Sachs, John R. Talbott is the author of four books on economics and politics, including The Coming Crash in the Housing Market making him one of the first to predict the current housing and mortgage crisis. He has appeared on CNN, Fox News, CNBC, and CBS Marketwatch and has written for The Wall Street Journal, the Financial Times, and the Boston Globe.

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All Customer Reviews
Average Customer Review: 4 out of 5 stars

6 of 16 people found the following review helpful:

1 out of 5 stars

Thinly Veiled Socialist Manifesto, 2008-10-09
It sounds good, but if you really examine all the wonderful things Obama is going to do, it adds up to Socialism. All corporations are the bad guys and must be taxed and regulated, wealthy people demonized, economic justice that means taking away from one group to give to another. It's stealing--just like Obama and Talbott like to say that corporations are doing. If enough people are swayed by this pro-Obama propaganda, we will all have to live with the results. After he soaks the corporations and the so-called rich people and can't wring out any more blood, then he will come after you and soak you for the taxes he needs to fund his 'economic justice' and Socialist agenda.

Seniors would do well to read this book and see what Talbott claims Obama's plan should include; withold medical care for people over 75 that may need end of life treatment. The reasoning? They are a drain on the "system" and productive people will have to pick up the tab. This goes beyond Socialism!

A quote comes to mind:

"The long road of history is lined with the ruins of nations which bought the souls of their people with the lure of a granted security, and then led them to ruin by that mirage. Security that is real and enduring is attained only by people who will accept their responsibility as duties to themselves and their fellow, and ask only that the State guard the avenues of freedom and keep them open."
~ Dr. Russell J. Clinchy

5 of 6 people found the following review helpful:

5 out of 5 stars

The Economics of Common Sense, 2008-10-04
This is perhaps the best summary of the issues facing America today - economic and political - that has ever been assembled in one place. The writing is concise, factual and well researched on a variety of topics - ranging from the current financial melt-down, to the cost and availability of healthcare, to the looming social security crunch. The analysis is crisp and logical, similar in style to "Freakonomics" by Levitt and Dubner. And while Obama's positions are indicated, the underlying text would stand on its own without it. To some extent, the "Obamanomics" title is a pretext for a work of much larger importance.
While easy to digest, the simple fact that so many problems of immense proportions face the country is quite daunting and a little depressing.
This book should be required reading for every student, politician and Republican. These problems have been addressed by other nations whose resources are far more limited - why not in America?

5 of 10 people found the following review helpful:

3 out of 5 stars

Liberty Vs. Equality, 2008-09-17
I read this book with an open mind and a longing for the insights to Obama and while Talbott's writing was clear, it was a bit naive. His insistence on economic justice as the fix to our financial issues is nothing more than redistribution of wealth. His disdain for Americans who want a 12000 square foot house and a Hummer reveals a deep bias. Of course no one needs that much space, but in this country we value liberty and freedom to choose. It's not the governments place to decide what we need and/or want.
One of Obamas campaign promises is to raise taxes on the wealthy, those making over $250K a year. Talbott says the current system 'gives money to top earners", when in fact the system allows top earners to keep more of the money they have earned. I think this basic difference in economic viewpoint is what irked me the most, being one of those 'lucky' few that Obama considers rich. He seems to know that the 'rich will not reinvest their extra money, they will put in a savings account. This is how it works. I have two kids in private college. They couldn't get into the UC system for their majors because they were impacted. I pay 40K a year, per student. I am too rich to qualify for any aid. So any and all extra money we get to keep is going to private colleges.
Most people considered wealthy work just as hard as those who make less money, so it's very difficult to not see Obama's policies as nothing more than socialism wrapped in a pretty package and topped with a pinch of guilt.

1 of 4 people found the following review helpful:

5 out of 5 stars

Obamanomics is a must read, 2008-09-12
Quite simply the best explanation of our current financial crisis I have read. Especially if the markets confuse and frighten you. I wish the book was called something else. The subtitle perhaps would have been better. Anyway. READ THIS BOOK

1 of 7 people found the following review helpful:

5 out of 5 stars

A must read explanation for now and recommendations for future, 2008-08-28
As a non-economist there were many things about our current economic situation that are not explained in the press with any level of clarity. Talbert not only explains the current state of the economy but how we arrived at this point and how the Obama plan will return us to prosperity. Talbert offers an honest assessment of the Obama plan, including criticisms and insights for the return of our economy to health. He also identifies the consequences of not making dramatic changes now.

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