Will sluggish economy derail Obama agenda?
The Hill's A.B. Stoddard weighs in
- Duration 4:20
- Date Jan 31, 2013
The Hill's A.B. Stoddard weighs in
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Well growing questions for President Obama as some claim his second term agenda seems to put the issues of jobs in the economy on the back burner.
In spite of that his approval rating has improved of late but today and Associated Press raise these concerns saying quote.
In politics power resides in the moment any immediate economic setback or the perception of one could weaken Obama's clout.
Or at least distract him as he carefully tries to put his imprint on initiatives dealing with the immigration and gun violence.
Let's talk about it with AB Stoddard and associate editor and columnist for the hill.
Maybe the president has been mostly talking about immigration and gun violence lately and yet we still have an unemployment rate at seven point 8%.
If labor force participation were the same as when he took office it would be over 10%.
A fall in our nation's economic output in the light our last quarter and you've got.
Shrinking of consumer confidence those are some pretty big issues does that threaten to -- that.
Well -- will.
What you're mentioning or whether or not these issues would distract him -- -- Troubled economy house to distract him.
Whether or not he actually focuses on it is another question.
Much of these last few months were taken up by.
After the election the president.
Continuing his campaign for extending tax cuts.
For everyone -- the wealthy top brackets.
And so we had a fiscal cliff -- debate and fight on Capitol Hill where.
American taxpayers across the country paying their holiday bills were anxiously awaiting to see -- congress should do.
Every one but that the top murderers.
-- other tax cuts restored we went right into a debate about gun control and immigration reform so it's true that the president is not talked about growth.
Or the economy in a very long time given this new data -- and given the fact that.
We saw in anticipation.
Of these sequestered -- that the congress passed.
Long time ago and have the opportunity to undo but haven't yet and are set to go into effect on March 1 in anticipation.
Of those -- That really hit at defense spending.
We saw big shrink -- Defense jobs and that is going to continue.
-- -- we see the sequester go into effect in March and it's going to hit domestic programs that well as well.
Come behind that will be produced a considerable -- to consumer demand.
And as we get into a couple months down the road new jobs reports another budget fight coming.
It's not going to be possible for President Obama to ignore the topic well he's trying I guess Jay Carney the White House yesterday told the press that really the the reason for the problems in the economy are because Republicans controlled House of Representatives.
That's what the president was telling everybody at Christmas time when he was threatening.
It too you know we're all gonna -- -- the cliff and the Republicans are going to.
Raise everybody's taxes and that's going to decimate the economy what we saw was a deal as I said that restored tax cuts tonight and percent of American taxpayers.
And we put off the question of these very serious -- -- and across the board.
Blunt cuts to domestic and defense programs that both sides of set have been terrible and -- President Obama said in his debate.
In the fall Mitt Romney simply were not gonna happen.
His own Defense Secretary is -- they would be so so damaging to the military he he has been urging the president repeatedly not to to let them come.
Online and so we're looking at a situation where he actually has the chance to engage that the congress.
Republicans are waiting because they don't want to raise more taxes to see what spending cuts he would replace them with.
But this is not a situation where Republicans are to blame about the sequester -- bipartisan complicity in coming to those numbers and to be bipartisan blame.
If if we go into the sequester but the president also -- knows he can't have a good second term.
He can't get these other controversial initiative passed if he's fighting with Republicans about spending cuts on in a very bad environment with consumer demand.
All going down where that is not an environment for him to take -- -- -- -- -- -- and seven point 8% unemployment and these jobs council is going away but the president.
Has four more years we'll continue to watch it AB Stoddard from the hill thank you.