Showing posts from September 12, 2011

Will Obama's plan save US jobs - and his own?

Business Times - 13 Sep 2011

Will Obama's plan save US jobs - and his own?

If the Republicans try to torpedo plan, that could ironically help Obama in the 2012 poll


US PRESIDENT Barack Obama is hoping that the US$447 billion mix of tax cuts and spending that he proposed during a televised address to the politically divided Congress and the economically distressed American people last week would 'restart' the slow economic recovery and avert a double-dip recession. No doubt, he must also be hoping that it will revitalise his limping presidency, regain the support of the electorate and ensure that he get to serve a second term in the White House.

Indeed, as Mr Obama delivered his 30-minute-long speech - challenging lawmakers to pass his job plan as soon as possible - both the American economy and the Obama presidency seemed to be heading into dangerous territories. With the unemployment rate stuck at 9.1 per cent while consumer confidence re…