Obama Finds His Inner Roosevelt

The economy should be Obama's top priority: Henninger

(NEWSER) - Barack Obama makes health care sound like the most pressing issue in American life, but with unemployment at 10% and the country still officially in recession, Daniel Henninger wonders why he's "draining a dwindling reservoir of presidential capital." The cost of health care may be a problem for many, but government's job of fixing wrecked markets is not nearly over—and voters agree, with 87% dissatisfied with the economy. For the Wall Street Journal columnist, "even more so now than way back in 1992: It's still the economy, stupid." More»

Call for bold action on economy followed by plan that falls a long way short

(NEWSER) - Barack Obama's call for aggressive action on the economy hasn’t been backed up by a plan bold enough to do the job, Paul Krugman writes in the New York Times. Plunging levels of investment and consumer spending will leave a gap of around $2 trillion between what America produces and what it can sell—and Obama's plan only offers $775 billion to fill that hole. More»

(USER SUBMITTED) - Jim Surowiecki, writing for the New Yorker, says that the Obama stimulus package worked surprisingly well. Yet, Surowiecki notes, Obama gets little credit for it because he did the economically, rather than politically, expedient thing. Rather than lump-sum tax rebates, which consumers tend to horde, he gave taxpayers a small break in every paycheck, which they spent—stimulating the economy. By giving money to the states to retain jobs, rather than create new ones, he maintained stability and reduced unemployment. More»

Team searches for ways to bolster economy

(NEWSER) - With economic recovery looking sluggish at best , President Obama is considering a national infrastructure program, alongside a wave of tax cuts for businesses and individuals. Up for discussion are additional tax cuts for small businesses, a possible payroll tax cut for businesses and individuals, and other tax breaks aimed at encouraging businesses to hire, sources tell the Wall Street Journal . More»

Voter backlash is about failure to lower unemployment

(NEWSER) - Paul Krugman doesn't buy the GOP conclusion that voters Tuesday rejected the Obama agenda. The election just showed that American voters are worried about their jobs, he writes, and this time next year, with unemployment still high, Democrats will likely regret not having been bolder on the economy when they had the chance. "Voters across America are in a bad mood, largely because of the still-grim economic situation. And when voters are feeling bad, they turn on whomever currently holds office." More»