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 By LEON HADAR WASHINGTON CORRESPONDENT 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 confidenc