Few options left for Obama on economy
WASHINGTON (AP) -- In the wake of an alarmingly weak jobs report last week, President Barack Obama and lawmakers in both parties find themselves possessing few if any realistic options for jolting the economy out of its doldrums before Election Day.
Big-ticket items like payroll tax cuts, free-trade agreements, months of extended unemployment benefits and "stimulus" spending on public works and aid to states and local governments have been tried but have failed to spur a sustained, robust recovery.
Obama's remaining "to do list" for Congress contains a partial tax credit for new hires, extending tax breaks about to expire, renewing highway and mass transit construction programs and preventing interest rates on student loans from doubling. Even combined, they hold little promise of lifting a $15 trillion economy from its torpor.
(Copyright 2012 by The Associated Press. All Rights Reserved.)