Obama: Supply-Sider?
For President Obama and his party, last week brought another stiff dose of pain: the announcement of 263,000 more jobs lost, while unemployment ticked up to 9.8 percent.
And by all indications, Democrats must endure that form of political torture for at least several more months. Whatever the fate of health care legislation, persistently high unemployment has made “Where are the jobs?” the most potent Republican campaign argument as next year’s midterm elections come into view.
Publicly, White House aides and Congressional leaders have responded with incessant attempts to highlight benefits from the $787 billion economic stimulus package they enacted earlier this year. Privately, Mr. Obama’s economic advisers are sifting options for a new package of tax cuts and other job creation measures to be unveiled in next year’s State of the Union address — or earlier if pressure for action becomes irresistible.
And by all indications, Democrats must endure that form of political torture for at least several more months. Whatever the fate of health care legislation, persistently high unemployment has made “Where are the jobs?” the most potent Republican campaign argument as next year’s midterm elections come into view.
Publicly, White House aides and Congressional leaders have responded with incessant attempts to highlight benefits from the $787 billion economic stimulus package they enacted earlier this year. Privately, Mr. Obama’s economic advisers are sifting options for a new package of tax cuts and other job creation measures to be unveiled in next year’s State of the Union address — or earlier if pressure for action becomes irresistible.
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