With the specter of re-election looming large , US President Barack Obama gave a thunderous speech , promising to maintain USA’s global domination. He lashed out at companies who are still sourcing out jobs and promised greater economic parity at home . He also warned China and Iran to avoid confronting US or else face dire consequences .
The protracted 70 minute speech acted more like a campaign opener ,where Obama diligently enumerated the dissimilarities between him and Mitt Romney , his expected future opponent in the upcoming election . He proposed to impose higher taxes on the rich , stating that a tax rate of less than 30% for anybody who is raking in millions per year , is a fallacy. He coined his proposal – The Buffet Rule – following Warren Buffet’s , the world’s wealthiest man, assertions that the current tax structure is heavily skewed in favor of the rich and wealthy and is responsible for widening economic disparity . Warren Buffet has actively pushed for tax reforms –something that Obama also intends to do if one goes by his address . His remarks on “class warfare “ were seen as an apt rejoinder to his Republican adversaries who has earlier accused him of inciting class warfare by his draconian policies . Although, Obama never mentioned Romney by name ,the slanted reference was not lost on anybody.
Most of his discourse was aimed at placating a restive electorate , disgruntled by economic hardships of five long years and with no discernible change in the offing. . Obama tried to rally the general public by putting forth a strong case of resurgent America who ,at no cost , will give up its dominant global role . He waxed lyrical about the advances made in foreign policy front, which included the recent elimination of Osama Bin Laden . “ America is back “ the President thundered .
Positioning US as a Pacific power Obama stated that the effects of a resurgent US leadership is being felt everywhere . He also pledged to deny Iran access to Nuclear material at any cost and challenged China to change its skewed trade policies or else face action. However, from India’s perspective the most concerning part was his lengthy tirade against outsourcing and his promises to alter the tax code in a bid to hinder companies from “sending out” jobs