You'll Need FDR's Optimism to Save Us, Obama

(NEWSER) - President Obama visited Wall Street’s historic Federal Hall today, on the anniversary of Lehman Brothers' collapse, to make the case for the financial regulatory reforms wending their way through Congress. He spoke of the need for “strong rules of the road” for the financial system. “History cannot be allowed to repeat itself,” he said, calling the effort “the most ambitious overhaul of the financial regulatory system since the Great Depression.” More»

President enjoying 'Reagan-like' levels of popularity as early milestone is reached

(NEWSER) - Today marks President Obama's hundredth day in the job and he's more popular than his two immediate predecessors were at this point, according to an NBC/Wall Street Journal poll. Over half of those polled said Obama is off to a good—or great—start, 61% approve of the job he is doing as president, and 64% see him in a favorable light. More»

President has raised taxes when business needs a break

(NEWSER) - Everyone loves a scapegoat. The American people have Wall Street fat cats, and President Obama has George W. Bush, writes David Harsanyi for the Denver Post. While Obama, "in a superbly eloquent and inspirational pitch, always reminds us that nothing is his fault," Harsanyi gripes, "nearly every initiative enacted in the first 50 days of the Obama administration has exacerbated what Bush started." More»

Bigger deficits are worth the benefits, Fed chair tells Congress

(NEWSER) - Ben Bernanke supported the Obama administration’s economic policy before Congress today, the Wall Street Journal reports. The $787 billion stimulus bill should boost “demand and production” and soften job losses over the next 2 years, the Federal Reserve chief told the Senate Budget Committee. The expansion of government debt required by the stimulus is “unavoidable” Bernanke said, given the consequences of inaction. More»

(NEWSER) - Barack Obama rolled out his ambitious 2010 budget proposal today, promising a break from the “dishonest accounting” of the past. “For too long, our budget has not told the whole truth,” the president said. “Large sums have been left off the books, including the true cost of fighting in Iraq and Afghanistan.” The 140-page budget summary Obama sent Congress inflates the deficit, but also cuts spending in many areas, CNN reports. More»