Sunday, June 13, 2010

NYT:> How Democrats Fell Short in Job Creation

Economic Scene - How Democrats Fell Short in Job Creation -

"One of the political mysteries of the last year is why the White House and Congress have not been even more aggressive about trying to put people back to work.

"It is true that President Obama and Democratic leaders in Congress favor more stimulus and have been stymied by Republicans and, more recently, conservative Blue Dog Democrats worried about the deficit. But it’s also true that Mr. Obama, Nancy Pelosi and Harry Reid have done less than they could have.

The president has not wrapped his arms around teachers, firefighters and other government workers facing layoffs and dared Republicans to oppose him, much as he did with financial reregulation. He has not pushed for a big new round of tax cuts, which could also put Republicans in a bind. And the White House has been slow to fill vacancies at the Federal Reserve that could go to officials who favor the Fed’s doing more to lift economic growth."

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