Obama, Biden Will Huddle With Governors on Economy

Colin Powell 'concerned' by Obama's spending

(NEWSER) - Joe Biden conceded today that the Obama administration “misread” how bad the economy actually was and that now the unemployment rate is “much too high,” The Hill reports. In an interview taped in Iraq with This Week, the vice president also said the US doesn’t intend to slow its withdrawal plans from Iraq even if violence surges after American forces leave. More»

(NEWSER) - Barack Obama rolled into Washington tonight on the last stop of his historic whistlestop train journey, the Washington Post reports. Obama retraced the path of Abraham Lincoln and called for a "new declaration of independence" for the nation. To see photos of the trip—which Joe Biden joined in Wilmington, Del.—click on Slideshow. To read more about it, click on the links. More»

Government must remain involved for economy to gain new footing

(NEWSER) - The Obama administration must resist the temptation to leave the economy to its own devices too soon, Paul Krugman writes in the New York Times. “Getting to the point where our economy can thrive without fiscal support may be a difficult, drawn-out process,” he writes, with no bubble in sight to replace housing. “Things can’t just go back to the way they were.” More»

Programs may take a while to start

(NEWSER) - Barack Obama’s plan to throw hundreds of billions of dollars into state infrastructure projects may not be as effective as he imagines in stimulating the economy, some state officials say. Yesterday, governors told the president-elect that they had $136 billion in projects ready to go, but the National Governors Association says fewer than half could break ground in the next six months. Many would take 24 months, which might be too slow to help the economy. More»

Now isn't the time for divisive legislative battles: Samuelson

(NEWSER) - When Barack Obama takes office, he’ll have to decide whether he wants to revive the economy, or pursue his policy agenda. “The two approaches are at odds,” writes Robert Samuelson in the Washington Post. Yes, Obama could say energy and health reform will improve the economy, but these initiatives will be “at best distractions,” and at worst legislative battles the US can’t afford. More»