Obama Selling Stimulus to World, But Even DC Isn't Buying

More

You can't put it much more simply than this:

President Barack Obama wants to sell world leaders on his ideas for sustaining global economic growth. One reason that won't be easy: He hasn't yet convinced the U.S. Congress.

Liberals want a big mid-year stimulus to spare state budgets from massive cuts and extend unemployment benefits and tax cuts. Moderates and conservative are asking for "offsets" to slash the 10-year price tag under $100 billion. Business leaders are complaining that the offsets will kill jobs. So there's your rock, and there's your hard place. Still Obama officials are saying things like: "Leadership by example is part of what we bring to the G-20..."

What example, exactly? The Senate is twisted into a pretzel over this bill and Reid has requested that financial reform wrap up before the weekend, nearly assuring that Obama's stimulus plug before the G20 will be a thesis without support.

Jump to comments

Derek Thompson is a senior editor at The Atlantic, where he oversees business coverage for TheAtlantic.com. More

Thompson has written for Slate, BusinessWeek, and the Daily Beast. He has also appeared as a guest on radio and television networks, including NPR, the BBC, CNBC, and MSNBC.

Get Today's Top Stories in Your Inbox (preview)


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Miami: The Next Big Start-Up City?

How the city became a center for innovation

Video

Video

A Brief History of Romantic Comedies

From The Atlantic's Chris Orr

Video

Life in 'the New Arctic'

A moving portrait of a fading landscape

Video

Video

The Rise of New York City

A fascinating look at Manhattan in the 1940s

Video

What Is Methane Hydrate?

"Flaming ice" is a vast natural energy source

Video

NASA's Time-Lapse of the Sun

Now with epic dubstep music

Video

Shaken Not Tuned: Cocktail Experiments

Can a tuning fork improve a cocktail?

Video

Video

Is He Cheating? A 1950s Guide

'That little blonde secretary from the office?’

Video

New Yorkers: Vintage Vacuum-Tube Amps

Risking electric shock to restore old amplifiers

Video

The DIY Piano-Bicycle

Everybody needs a hobby

Writers

Up
Down

More in Business

In Focus

Photos of Tornado Damage in Moore, Oklahoma

Just In