Obama Must Be a Goo-Goo: Krugman

Obama must have 'audacity' FDR lacked

(NEWSER) - With the economy on the rocks, the New Deal is a hot topic. But FDR’s master plan almost failed, Paul Krugman writes in the New York Times, because "his economic policies were too cautious." In the end, "what saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs." More»

But problem may be too big to fix

(NEWSER) - As he announced the appointment of Alan Krueger yesterday, President Obama promised a speech outlining his new jobs agenda next week—but behind the scenes, Obama and company haven’t actually agreed on that agenda yet, the Washington Post reports. The president is considering a number of options, including a tax credit for companies hiring new workers, an infrastructure bank, clean-energy tax cuts, and revamping the unemployment system so that it pays companies to hire out-of-work people. More»

President to trade short-term spending for long-term cuts

(NEWSER) - President Obama's promises to boost jobs and cut the deficit are taking shape, with a new stimulus and tax cuts for companies that hire new workers to be announced in a major address right after Labor Day, reports the Washington Post . The stimulus is said to focus on road building, construction, and the long-term unemployed. The president may also propose mortgage relief for struggling homeowners. More»

Republicans, Obama agree to payroll tax holiday, middle class breaks

(NEWSER) - The tax cut deal President Obama struck with Republicans yesterday is far more sweeping than lawmakers on either side of the aisle were expecting, and aside from extending the Bush tax cuts across the board, here's the lowdown, as per the Washington Post:

• Inheritance tax: After a year's lapse, individual estates worth more than $5 million (twice that for couples) are now subject to a 35% levy.
• Payroll tax holiday: Will extend across all income levels, costing $120 billion. A couple making $70,000 a year will see $1,400 in savings.

He wouldn't have focused on stimulus, health care

(NEWSER) - Democrats appear headed for a big November defeat, but it didn’t have to be this way. In today’s New York Times , David Brooks imagines an alternate history, in which Obama took a wiser path. In December 2008, as his staff was clamoring to recreate the New Deal, “Obama, in this fanciful version, held up his hand. He told his aides to put away the history books.” This was not 1932. Today’s America didn’t trust the government. More»