In its World Outlook Report, IMF said advanced economies, including Germany, France, Italy, Spain and Japan, would see a negative growth of 0.3% while the US and the UK could witness contraction of their economies by as much as 0.7% and 1.3% respectively. 

The foremost on Obama’s agenda would be the reconstruction to regulate markets, to protect  citizens against the risk of unemployment and ill health, to invest in energy independence.  We have seen a massive shift of risk from corporations to individuals. 

President Obama needs to address this.  Besides footing the bills for the 700 billion$ bailout programme Obama will try to find the 50 billion$ with which he promised to jumpstart the economy.  With various tax reforms that would benefit the low income group and the senior citizens Obama needs to seriously look at the foreign policies around Iraq, Iran, Afghanistan, North Korea, Pakistan and Israel-Palestinian issues.