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As Barack Obama takes office, the public’s focus is overwhelmingly on domestic policy concerns – particularly the economy. Strengthening the nation’s economy and improving the job situation stand at the top of the public’s list of domestic priorities for 2009. Meanwhile, the priority placed on issues such as the environment, crime, illegal immigration and even reducing health care costs has fallen off from a year ago.
WASHINGTON — President Obama, after working on health care for most of the past month, turns attention this week to the overall economy — and Republican attacks on his $787 billion stimulus bill and the unemployment rate.
Obama doesn't plan to ignore health care in the coming days. In the radio address, Obama said he is returning to Elkhart because it has been hit by "the broader economic changes of recent decades" that include higher health costs. As it was during Obama's visit in February, Elkhart is among the nation's leaders in unemployment, at 16.8%.
Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn't quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983.
Meanwhile, Congress demands more bank lending even as it assails lenders and threatens to let judges rewrite mortgage contracts. The powers in Congress -- unrebuked by Mr. Obama -- are ridiculing and punishing the very capitalists who are essential to a sustainable recovery. The result has been a capital strike, and the return of the fear from last year that we could face a far deeper downturn. This is no way to nurture a wounded economy back to health.
Listening to Mr. Obama and his chief of staff, Rahm Emanuel, on the weekend, we couldn't help but wonder if they appreciate any of this. They seem preoccupied with going to the barricades against Republicans who wield little power, or picking a fight with Rush Limbaugh, as if this is the kind of economic leadership Americans want.
Originally posted by jam321