Obama's Approval Dips to 63%

Team searches for ways to bolster economy

(NEWSER) - With economic recovery looking sluggish at best , President Obama is considering a national infrastructure program, alongside a wave of tax cuts for businesses and individuals. Up for discussion are additional tax cuts for small businesses, a possible payroll tax cut for businesses and individuals, and other tax breaks aimed at encouraging businesses to hire, sources tell the Wall Street Journal . More»

Voter backlash is about failure to lower unemployment

(NEWSER) - Paul Krugman doesn't buy the GOP conclusion that voters Tuesday rejected the Obama agenda. The election just showed that American voters are worried about their jobs, he writes, and this time next year, with unemployment still high, Democrats will likely regret not having been bolder on the economy when they had the chance. "Voters across America are in a bad mood, largely because of the still-grim economic situation. And when voters are feeling bad, they turn on whomever currently holds office." More»

Directly or indirectly, $150B spent has had great effect, report says

(NEWSER) - The economic stimulus package has already created or saved at least 650,000 jobs, the White House said today, even though just $150 billion of the $787 billion has been spent. And the number of jobs is closer to 1 million if it includes positions added indirectly, according to the administration. The tricky numbers come from tens of thousands of reports by funding recipients, including state and local governments and private firms. More»

(NEWSER) - President Obama's job-approval rating slipped to 50% in Gallup poll results out today, a new low for the 10-month-old administration, the Los Angeles Times reports. The drawn-out health care reform debate apparently is dragging down the number, which hit 69% after the inauguration. The disapproval number is 43%. "It's real easy to stay popular in Washington if you don't do anything at all," a White House rep said. More»

Good news for prez ahead of today's job-loss report

(NEWSER) - President Obama’s stimulus package appears to have helped the economy bottom out more swiftly, an economists’ report says. Analysts hold that the stimulus boosted economic growth by about a percentage point in the second quarter—not enough to keep the economy from shrinking but enough to slow the pace of decline, reports the New York Times. More»