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On Economy, Obama is Salesman in Chief

By Ben Pershing
Twelve hours from now, President Obama will walk to the podium in the East Room of the White House for his second prime-time press conference, assuming the role he has been playing with increasing frequency -- salesman in chief.

Monday's economic narrative, good as it was for Team Obama, served as a stark reminder that the administration has yet to find an effective pitchman for the president's policy proposals other than the president himself. The White House rolled out its plan for buying up bad assets from banks, and the markets responded happily, with the Dow climbing nearly 500 points. On Wall Street, reviews of the proposal were largely positive, and it may just be that -- regardless of its real merits -- the plan will work because everyone thinks the plan will work. But, notably, there was no public face for the blueprint. Tim Geithner laid out the details in an off-camera briefing and an op-ed piece, after the administration leaked key tidbits on background over the weekend.

The Los Angeles Times frames it nicely this morning: "In assembling his economic team, the president gave first priority to technical skill and intellectual achievement. So far, none of his senior advisors has shown the extra ability to inspire as well -- both on Wall Street and Main Street." As a result, when there is on-camera selling to be done, it will be up to Obama to sell it. That may be a fine problem to have. Though it has dipped, Obama's overall approval rating is still around 60 percent, as is his approval rating for handling the economy.

But how often can the White House go to that well?

Continue reading at Political Browser »

By Ben Pershing  |  March 24, 2009; 8:25 AM ET
Categories:  The Rundown  
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Comments

Independent4tw:

SOCIALISM has never worked. Next canard?

Posted by: JakeD | March 24, 2009 12:49 PM | Report abuse

Remember that dustup about the Big Three automaker CEOs "flying" their private jets to D.C.? There's no more expensive "private jet" than AIR FORCE ONE.

Posted by: JakeD | March 24, 2009 12:48 PM | Report abuse

"The White House rolled out its plan for buying up bad assets from banks, and the markets responded happily, with the Dow climbing nearly 500 points. On Wall Street, reviews of the proposal were largely positive, and it may just be that -- regardless of its real merits -- the plan will work because everyone thinks the plan will work."

I reprinted this for the two previous posters that missed the fact that the economy is getting better because of Obama's plans.

Posted by: Independent4tw | March 24, 2009 12:29 PM | Report abuse

lclifton:

Of course he's giddy. He gets to spend over TONS OF MONEY just on himself!

DO WE NEED TO WASTE OVER $2 BILLION TO RUN WHITE HOUSE?

http://whitehousetransitionproject.org/resources/briefing/Patterson-Cost%20of%20WH.pdf

Posted by: JakeD | March 24, 2009 12:29 PM | Report abuse

Obama is giddy while Americans suffer. He seems detatched from reality. It seems that, like Bill Clinton, he believes that he is a Hollywood Celebrity, and this is bringing America to a slow keeps spending
your childern's future to hang on to power, his poll numbers will tank. We need a REAL political Revoluton. Most of us don't want a Soviet-style communist government lording over us.

Posted by: lclifton | March 24, 2009 10:19 AM | Report abuse

It is like watching a train wreck,unfortunately we are all on the train and we have Dumbo as the engineer. Exactly what team is this article referring too? The non-existent staff in the Treasury?

The proposed budget is an obscene bloated Frankenstein Monster that has escaped and is scaring the Villagers. The proposed purchase of toxic debts following the Japanese model is an outrage and will lead the US economy to a Zombie economy or worse. This is Obama and Geithner following the orders of their masters at the Federal Reserve bank. Look at who owns the Federal Reserve Bank and you will understand why they want the Government to pass the toxic debts off their books to the Public. A complete sell out.

Keep in mind that as Obama tries to blow smoke up our respective colons that his projections on the deficit reduction in his budget is premised on a robust recovery of the US economy over the next few years. The Budget department disagrees with Obama, but sill relies on some recover to have only a 9 trillion dollar deficit under the Obama budget.

If we enter a Zombie economy, or the economy does not expand (as predicted by Obama) or contracts (inflation and/or devaluation), simply staggers along then Obama and the Budget office will in hind sight be viewed as wildly optimistic. We will be collectively bent over looking for the KY.

Posted by: Bubbette1 | March 24, 2009 10:08 AM | Report abuse

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