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Obama’s dream

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					                          Obama’s dream
U.S. President Barack Obama‟s $787 billion stimulus prevented another Great
Depression while creating or preserving 2 million jobs, according to a White House
report to be released on Wednesday.

The report, signed by Vice President Joe Biden who oversees how stimulus money is
spent, stressed the depth of the crisis confronting Obama when he took office 13 months
ago, as the President constantly reminds Americans in his speeches.

But it also highlighted Obama‟s challenge of trying to cut a 9.7 percent jobless rate that
has fueled voter discontent. Obama‟s dream is to full down the unemployment rate as
soon as possible.

The report said the package of stimulus spending and tax cuts “clearly halted an
economic freefall.” Obama will get the document at his economic intelligence briefing on
Wednesday and he will speak about the economy to mark the anniversary of his signing
of the American Recovery and Reinvestment Act at 10.25 a.m.

Opposition Republicans, as they have been doing for months, hammered the White
House for what they called a “poorly conceived and badly executed” stimulus plan.

“Self-congratulatory ‟stimulus‟ spin from this administration is hopelessly out of touch
with reality and has about as much as credibility as prior claims that unemployment
wouldn‟t exceed 8 percent or that jobs would be created „immediately‟,” John Boehner,
Republican leader in the House of Representatives, said in a statement.

BATTLING PERCEPTION

Obama has said job growth will be his top priority this year, recognizing that Americans
are anxious about high unemployment and the record deficit. He is going to drop the
unemployment rate in coming year.

A survey last week showed he is also battling a public perception that the stimulus
package has created few jobs. In this way he remove the rested people who rest in home.

The CBS/New York Times poll found that only 6 percent of Americans believed the
$787 billion package had created jobs. Another poll by CNN/Opinion Research
Corporation showed a majority opposed the stimulus program.

That could hurt Obama‟s fellow Democrats, whose majorities in both the House of
Representatives and the Senate could be under threat in the November congressional
elections.
“It‟s hard to get out positive news stories when people tend to focus on what‟s going
wrong as opposed to what‟s going well,” Valerie Jarrett, a top adviser to Obama, told
Reuters in an interview.

He acknowledged the administration had perhaps not done a “good enough job of
explaining” how the plan helped people.

“Ninety-five percent of families received a tax break in the stimulus. So, maybe people
aren‟t fully appreciating that. But they did get the tax break, for example,” he said.

A senior administration official, speaking on condition of anonymity, said the recovery
was proceeding as expected.

“You don‟t go from massive hemorrhaging of jobs to robust job growth without passing
through a period like this one, where GDP recovers first and diminished job losses
precede the net gains we expect to see this spring,” he said.

Created By: Bikesh Pandey
Email address: bikeshpanday.blogspot.com

				
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