Obama Vows to End Cycle of Job Losses

There are plenty of reasons the president should be worried

(NEWSER) - Democrats, and many pundits, seem to believe that President Obama is rebounding, and will surely win re-election, but Jim Vandehei of Politico isn't buying it. Here's why he thinks the president should be sweating right now:

• The economy: The recent CBO report not only projected another trillion-dollar deficit, it predicted that unemployment will rise to 8.8% in the third quarter—something Obama's own advisers doubt he could recover from.

Last night's speech was incredibly important, Robert Reich writes

(NEWSER) - The speech President Obama gave last night in Osawatomie, Kansas, was the "most important economic speech of his presidency," writes former labor secretary Robert Reich. "Here, finally, is the Barack Obama many of us thought we had elected in 2008," one who actually fights Big Money the way Teddy and Franklin Roosevelt did. Obama at last took a stab at "connecting the dots, laying out the reasons behind our economic and political crisis." More»

President chides Republicans on payroll taxes

(AP) - President Obama continued his onslaught on congressional Republicans today, saying that Congress needs to extend a payroll tax cut in light of an economic recovery that's "still fragile" and middle class families who need the money. In a statement given from the White House this afternoon, Obama urged Republicans to "keep your word to the American people" on not raising taxes. Obama has been seeking an extension and expansion to the payroll tax cut that will expire at the end of the year. More»

Democrats rejoice as president goes on the attack

(NEWSER) - On Labor Day, Carl Levin gave President Obama the text of a speech by Harry Truman—who won reelection despite a bad economy by attacking Republicans so viciously that he earned the nickname “Give ‘Em Hell Harry.” Ever since, Obama’s been giving Republicans hell, the Washington Post observes. With liberals furious over what they see as Obama’s constant capitulations, he’s now fighting with the gloves off for his jobs bill, on a barnstorming tour he intends to continue through December. More»

School renovations, unemployment benefit extension part of strategy

(NEWSER) - President Obama plans tomorrow to unveil a $300 billion jobs strategy that will involve tax relief for workers and spending on public works projects such as road repair and school renovations to put America back to work, according to sources familiar with the plan. Half of the stimulus will come from tax cuts, including a year-long extension of a Social Security payroll tax reduction for workers and a possible cut in payroll taxes paid by employers, according to Bloomberg . The plan also involves the extension of unemployment benefits, offering job training for the unemployed, and a program to prevent teacher layoffs, reports the Los Angeles Times. More»