American Opinion: On Obama economics:
An excerpt from recent editorials in newspapers in the United States:
From The Associated Press
On Obama economics:
Summer of recovery? Not quite.
The Obama administration, with Vice President Joe Biden playing head cheerleader, has been pushing the idea that last year's $862 billion stimulus, the linchpin of the administration's economic plan, worked and the economy is rebounding. Far from it.
Indeed, things look to be worsening.
The unemployment rate is stuck at 9.6 percent, though the stimulus was supposed to keep unemployment below 8 percent.
Meanwhile, sales of new homes in July plunged 12.4 percent from June -- to a level not seen since such records were first kept nearly 50 years ago -- and purchases of existing home sales dropped 27 percent, to a 15-year low.
The chief reason? The expiration of a temporary tax break for home buyers.
Clearly, the administration's scattershot economic policy doesn't work.
Yes, the economy was in rough shape when the Obama team came in; things weren't going to change overnight. ...
Thirty years ago, Ronald Reagan took office facing a dire economic landscape -- a different crisis, yes, but with similar nationwide anxiety.
His "fix" was relatively simple -- restore confidence by squeezing inflation and cutting taxes broadly. ...
Clearly, Barack Obama is no Ronald Reagan
-- The New York Post