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On Economy, Obama Walks a Fine Line

By Ben Pershing
President Obama said Thursday that he saw "good news" in the housing market. And why shouldn't he? Housing starts went up in February, with new stats due next week. Wells Fargo is making money hand over fist, giving hope that the financial sector is turning around. Stocks have risen more than 20 percent in a month.

But, as is always the case when you're in the White House, the picture isn't quite so simple. Because this is where it gets tricky for a president who is trying to sound optimistic without being out of touch. Americans do believe that the economy is getting better, but they also know that the employment outlook is rough. They're still worried about losing their jobs or their homes. They may well still have foreclosed homes on their block and closed stores in their neighborhood.

Obama surely remembers John McCain's much-derided comment last September that the economy's fundamentals were "strong" -- Obama's campaign tore McCain apart for it -- even though the Republican acknowledged "very, very difficult times." George H.W. Bush was pilloried in his 1992 campaign for suggesting the economy was turning around when much of the public believed it wasn't. The perception took hold that the elder Bush was "out of touch," particularly after the much-publicized but probably false grocery scanner incident.

Continue reading at Political Browser »

By Ben Pershing  |  April 10, 2009; 8:30 AM ET
Categories:  The Rundown  
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Next: POTUS Events: The Economic Brainstrust

Comments

There's a new video on Obama and the economy: http://www.youtube.com/watch?v=wZxe6xrCYEs

Posted by: cuajitoloco | April 13, 2009 5:03 PM | Report abuse

Let's see. How much money did Wells Fargo get in bailout funds 25 BILLION and how much have they lent ZERO? Hmm, would that make it appear like they made a profit? When the real information comes out Wells will drop like thin shet through a tall Swede. Anyone look at the Budget offices deficit announcement today? Yes Obama has set a record. But not to worry according to Obama and his crack advisers we are just a skittle away from rainbows and sunshine. Wheeeee...

Posted by: Bubbette1 | April 10, 2009 6:11 PM | Report abuse

The Republican economic plan for the future includes bringing back the Savings & Loans, especially Silver Auto Saving & Loan in Colorado. Mr Neil Bush will run it ... again !!! Republicans are an in - dangered species & they should be quiet & stand in the corner.

Posted by: gatorsn09 | April 10, 2009 5:11 PM | Report abuse

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