Obamanomics Book Report

By · Thursday, January 15th, 2009

Date Read: January 11, 2009

Book title: Obamanomics. How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics

Book author: John R. Talbott

Book publisher: Seven Stories Press (2008)

Nonfiction/218 pages

Obamanomics was the second book I read in 2009.

 Why I read Obamanomics:

My wife Carole and I have been huge fans of Barack Obama since we read the inspiring speech he delivered at the 2004 Democratic Convention. He expressed a vision for our country that inspired hope. We believed that as a leader, he could bring changes that might open opportunities for me to earn freedom. Since then, I’ve read his two memoirs, countless news reports, and watched him on television whenever possible. I discovered this book in Taft’s library and looked forward to reading it.

What I learned from reading Obamanomics:

I grew up in north Seattle, and graduated from Shorecrest High School in 1982. Like much of America, I was influenced by the promise of Ronald Reagan and his supply-side economics. This book brought into clarity a much more logical economic system. Rather than favoring the wealthy and big business, President-elect Obama subscribes to a governing philosophy that requires America to build a stronger middle-class. He believes in investing in education, in creating employment opportunities, in shoring our nation’s infrastructure.

Supply-side economics, or trickle-down theory, has proven to be a bad model for our global economy. The wealthy did not re-invest in America the benefits doled out through corporate welfare and low tax cuts. With the global economy, they sought lower operating costs by employing the third-world, building stronger profits for the ownership class while the working class suffered. As a consequence of policies that favor the elite, our nation has created a gulf between the wealthy and the poor, with a shrinking middle class.

As President, Barack Obama will govern differently. He understands that to build a strong nation, all citizens must have opportunities to thrive, prosper, and contribute. This wonderful book articulates the approach of bottom-up economics and describes how this economic theory, this liberal theory that I embrace, will make America stronger and more prosperous as we move forward.

How Obamanomics will contribute to my success upon release:

As a long-term prisoner, I have a responsibility to educate myself. The alternative would mean that the stifling influence of the Bureau of Prisons, a system that extinguishes hope, would condition me for failure. I have a duty to learn as much as possible about how I can contribute to and participate in society. That duty requires that I learn about various disciplines, especially business and government.

The books I read broaden my understanding of the world and the community to which I will return upon my release. That understanding will prepare me to succeed, to prosper, to contribute, and to overcome the obstacles wrought by more than a quarter century in prison. Because I pursue this adjustment course, I strengthen my capacity and potential as an American citizen, as a human being, as a husband.

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