GOP Rep. Says Obama Wants You Unemployed

Ignore the political crowd, the president's been great for business

(NEWSER) - President Obama doesn't get much political credit for it, but the numbers show his economic policies have been a resounding success. Since he took office, the S&P 500 is up 41%, credit spreads have narrowed, commodity prices have surged, and housing prices have stabilized, writes Mike Dorning of Bloomberg . GDP grew 5.9% in the fourth quarter, far more than analysts predicted, and job losses have slowed. More»

Receiver wants the $1.8M Allen Stanford gave to politicians

(NEWSER) - The receiver in charge of recovering money for R. Allen Stanford's fleeced investors is trying to recover some $1.8 million the alleged Ponzi schemer gave to a host of political causes—but they refuse to return the money, Reuters reports. Among the holdouts: President Obama's campaign, and most of the Democrat and Republican parties' national fundraising committees, along with a who's who of other prominent individual politicians. The receiver, Ralph Janvey, got court orders against five campaigns last summer, but all have ignored them. More»

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.

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»