Hey, Obama: Centrist Opposition Is Stirring

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»

Republican Party lacks opposition bump usually accompanying hard times

(NEWSER) - Americans are bummed about the economy, but that hasn’t given Republicans the usual opposition party boost in Washington . “The mood in America may be blue, but attitudes toward Washington are just jet black,” a pollster tells the Wall Street Journal . Some 58% of respondents think the economy will continue to fester, up from 52% last month. But folks would still rather have the Dems in control after midterms, 46% to 38%; those numbers were 43% to 40% in September. More»

(NEWSER) - Newt Gingrich is back, and he’s here to stay. “It’s Gingrich time,” Paul Waldman writes for the American Prospect. That’s not a good thing, for the Republicans or the country. “This is Newt's time again not only because there's a leadership vacuum in the GOP but because the Republicans are back in opposition, and nobody opposes quite like Newt,” Waldman writes. “He is a master of the contemptuous sneer.” More»

(NEWSER) - After a meeting today with the administration's top economic officials, President Obama said he’s starting to see “glimmers of hope,” Bloomberg reports. The president noted that government loans to small business are up but cautioned, “We’ve still got a lot of work to do.” Factory orders are up for the first time since July and home buying continues to rise, but unemployment is expected to continue to climb. More»

(NEWSER) - Top Obama economic adviser Lawrence Summers said today that measures to stabilize the economy will have a discernible effect in the next few months, the Hill reports. Loosening credit and an increased flow of inventory from manufacturers means the sense of “free-fall” will dissipate, though jobless numbers will continue to rise. We can’t “hold out the prospect that unemployment will stabilize,” Summers said. More»