EconWatch.com > Obama takes control of US economy : Ghana Business News

[Ghana Business News] In his weekly radio and Internet address Saturday and in a newspaper opinion piece, Obama argued that the stimulus program was designed as a two-year plan and that it had already halted the economic free fall. It hasn’t helped Obama, however, that the jobless rate now stands at 9.5 percent, even though his economic team initially predicted that the stimulus would prevent unemployment from going higher than 8 percent.

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[AMERICAN.COM -- A Magazine of Ideas, Online] Obama's Economic Box ”” The American, A Magazine of Ideas: Perhaps the most troubling aspect of the Obama fiscal stimulus package is the serious way in which it compromises the country’s long-run public finances and fans long-run inflationary expectations. The nonpartisan Congressional Budget Office estimates that the Obama budget not only implies unusually large budget deficits over the next two years but it implies that, even when the economy eventually fully recovers, the deficit will remain in the region of between 4 and 6 percentage points of GDP.

[WSJ.com: Washington Wire] Obama Praises Economic Stimulus Plan - Washington Wire - WSJ: The One couldn’t deliver the type of “temporary, targeted, and timely” bill that he promised repeatedly, and regardless of his image in the press, Obama simply lacks the the political stature to control Pelosi and Reid… who hit the trough hard, while bickering like siblings.

[THOUGHT MERCHANT] Is Obama Moving too Slow on the Economy? « THOUGHT MERCHANT: In any event, the adequacy of banks’ capital cushions hinges, in large part, on success in stimulating the economy and preventing foreclosures: If those efforts fall short, employment, household wealth and consumer spending will not rebound and bank losses will deepen ”” not only on home mortgages, but on credit cards, commercial real estate and other loans. The result would be a long period of tight lending and of subpar economic growth, if not outright contraction.

[CostSavingDeal Info Center] Since the first Obama stimulus was compared to the New Deal ...: I don’t believe that FDR was solely responsible for ending the Great Depression, such as Obama will not be solely responsible if he can end the recession. It was WWII that brought us out of the Great Depression, because American’s were working more to meet the demand for metal and war machines.

[Flopping Aces] Flopping Aces » Blog Archive » It's Not Fair to Judge Obama ...: Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers ”” leading proponents of a stimulus bill ”” predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn’t quite worked out that way.

[San Francisco Examiner Site Feed] Obama swipes at critics as White House downgrades economic ...: Amid grim new deficit numbers attributed in part to his own spending programs, President Barack Obama pushed back at those blaming him for the continued bad economy.

[Politics Daily] Obama on Econmy: 'I Welcome the Job' -- Politics Daily: The fact is that Obama was elected and he has decided on a policy of government intervention. Agree with it or disagree with it, he's not going to play Hoover and do nothing and 'let the market sort it all out.' Where's all the talk I heard so much of back in 2003 that you need to be loyal and respect the president even if you don't like him?

[YESHIVA WORLD NEWS] The Yeshiva World » Obama Says Economic Stimulus Plan Worked as ...: President Barack Obama said his $787 billion stimulus bill “has worked as intended” as he pushed back against Republican criticism that his recovery program has failed to rescue the economy. “It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,” Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address.

[Ruth Ulrich] Ruth Ulrich » Blog Archive » Cracks Appear in Obama's Rose Colored ...: Stimulus Fails To Create Jobs Despite Obama Administration’s Predictions Of “Boom In Job Creation”. ”[T]wo of [Obama’s] chief economic advisers, and leading proponents of a stimulus bill, predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn’t quite worked out that way. Last month, the jobless rate in America hit 9.5%, the highest level it has reached since 1983 …

[The Reality Check] The Reality Check » Blog Archive » Obama's Stimulus Stimulates ...: But the FDR echo I am pointing out isn’t that Obama is as crafty as FDR was by rewarding friends and excluding political enemies with the stimulus like FDR did with his government largess. The parallel is that the system that FDR created where Democratic strongholds are first in line for government largess is still going strong and Obama is benefiting from it.

[Marc Gunther's latest column/blog post] Obama's Smart $8-billion jolt for electric cars | Marc Gunther: I'm trying something different this week on the blog, in part because I'm on vacation. Recently, I had the great pleasure of attending a retreat for journalists organized by the Murray Weidenbaum Center on the Economy, .

[Economix] Forget a 'Second' Stimulus. Stop the First One! - Economix Blog ...: But there needs to be a stimulus focused solely on keeping people in their houses. If you’re not affraid of losing your house, you will feel ok spending a little more and saving a little less, which means businesses have more money, which means they can start hiring again, which means people will have jobs again.

[Breaking News] Analysis: Obama grabs fate of economy, shifts from blaming Bush to ...: WASHINGTON - The US has said it takes the period of transition to the Barack Obama administration 'very seriously' and has communicated to Pakistan 'very well' about their important responsibility and role on terror. 'I think I would just say we do take the period of transition very seriously,' White House spokesman Tony Fratto said Monday when asked if the US was on high alert as terrorists may take advantage of the transition from President George Bush to president-elect Obama.

[FullosseousFlap's Dental Blog] Obama: $ 787 Billion Economic Stimulus “Has Worked As Intended ...: “It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,” Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. “It has delivered $43 billion in tax relief to American working families and business.”

[Jesus is Lord, A Worshipping Christian's Blog] Jesus is Lord, A Worshipping Christian's Blog » Blog Archive ...: More than 2 million jobs have been lost since Congress passed Obama’s $787 billion economic stimulus package. The unemployment rate stands at 9.5 percent, the highest in 26 years.

[KICKIN' AND SCREAMIN'...........] KICKIN' AND SCREAMIN'”¦”¦”¦.. » Blog Archive » MEDIA RUNNING COVER ...: “It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,” Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. “It has delivered $43 billion in tax relief to American working families and business.”

[Paul Krugman] Deficits saved the world - Paul Krugman Blog - NYTimes.com: The effects of its slowness are visible now as unemployment reaches 10%. More slow spending, to the wrong places, will not help the situation and people know it.

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