Mayors Make Pitch for Piece of Stimulus Pie

Forget president—here's a job he's much more suited to

(NEWSER) - Reihan Salam's career advice for Barack Obama: Give up the presidency and run for mayor of Chicago. No, wait, he's serious! Richard Daley's decision to retire has thrown the city into a tizzy, and who better to take over than a person who knows Chicago's neighborhoods, feels "passionately" about the place, and has "built a diverse coalition in a city sorely in need of new leadership"? Not to mention the fact that one of Obama's inspirations was Harold Washington, the first African-American mayor of Obama's adopted city. More»

(NEWSER) - President Obama's top economist is confident that swift action by the administration averted disaster, ABC News reports. “We were at the brink of catastrophe at the beginning of the year,” Larry Summers says, “but we have walked some substantial distance back from the abyss.” Summers credits the recovery to the two-tiered plan that moved quickly to stabilize the financial system while simultaneously preparing for future growth. More»

Public works, schools, summer youth programs to see US cash

(AP) - President Barack Obama promised today to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into public works projects, schools, and summer youth programs. Obama is ramping up his stimulus program this week, promising an accelerated pace of federal spending over the next few months to boost the economy and produce jobs. More»

Responds to Europe's stimulus reluctance with global op-ed blitz

(NEWSER) - President Obama published an op-ed piece in more than 30 newspapers worldwide today, urging the G-20 nations to take immediate, bold action to fix the economy. “The United States is ready to lead,” he wrote in the Los Angeles Times, among others, “and we call on our partners to join us with a sense of urgency.” Included was a call for broad stimulus action—something the European Central Bank opposes. More»

(NEWSER) - Larry Summers sounded a note of cautious optimism today about President Obama's stimulus plan, the Washington Post reports. While it's way too early to assess its "broader economic impact," Obama's chief economic adviser called it "moderately encouraging" that consumer spending appears to be back on track. More»