
Lawrence Summers, Director of the White House National Economic Council, was on CNN’s State of the Union today. He explained how we inherited a terrible situation, have “a long way to go”, and reminded Candy Crowley that the president has had to get around the roadblocks the Rushpublics have consistently put up.
He went on to say the “trend has turned”, despite what we got stuck with. He laid out what the Obama administration has planned:
In order to try to bring the unemployment rate down, Summers said the administration is taking five steps: (1) continuing to implement the approximately $800 billion stimulus package passed soon after President Obama took office, (2) implementing new measures including tax credits intended to encourage businesses to hire the unemployed, (3) additional support to protect workers in state and local government like teachers and firemen, (4) providing incentives for small businesses to expand, and (5) providing incentives to create “the new energy economy” that includes a focus on energy efficiency and renewable sources of energy.
He said number four was “critical”.
He also said Congress needs to act on these provisions so that we can build a foundation for the future.
However (Yes, the H Word is back):
Asked why the administration did not seem to be pointing to any new proposals intended to battle unemployment, Summers suggested that some of the White House’s economic agenda was being held hostage by Republicans in Congress.
Gee, ya think?
Sidebar: Candy Crowley started the segment by emphasizing Obama’s dip in the polls over the last year, failing to put it into proper context. As my Twitter pal Degringolade said, “Worst. Easter Candy. Ever.”






