Labor day BBQ? A side dish is partisan sparring on jobs, unemployment

Republicans counter that spending and investment by the rich is every bit as vital to economic recovery as is spending by other groups. Even some Democrats in Congress agree with that thesis -- at least in the short run. The idea is that tax hikes on top earners shouldn't kick in while the economy is still in such fragile shape, and while uncertainty about tax policy is one of the factors weighing on business.

"We need a Congress and a White House that will listen to the American people ... and help end the uncertainty for small businesses," House Republican leader John Boehner of Ohio said recently. He noted that many small businesses are effectively reporting their income under the personal income tax.

New round of mortgage relief?

The Wall Street Journal also said Obama is planning a new round of mortgage relief for so-called "under water" borrowers. The idea, according to the report, is for the Federal Housing Administration to refinance borrowers if their current lenders agree to write down mortgage balances to less than the value of the property. The goal would be to help perhaps 1 million households avoid a mortgage default, and have more disposable income to spend in the economy.

Many housing experts say that's a laudable goal, but it's also an objective that the Obama administration has already found hard to achieve in other programs to date.

In a briefing for reporters Friday, Alan Krueger, the Treasury department's assistant secretary for economic policy, said the economic recovery has been slow in part because of the excessive buildup of private sector debt (such as mortgages) before the financial crisis. The Obama team is weighing a wide range of policy options to boost the economy, he said.

Any new programs appear likely to be limited in cost, because voters are worried about high federal deficits as well as jobs.

"Growth has slowed to anemic levels. Our national debt is growing by more than four billion dollars per day," Rep. Geoff Davis (R) of Kentucky said in the Republican weekly radio address Saturday. "So as it turns out, ‘Recovery Summer’ was nothing more than a meaningless slogan."

Republicans say they are close to unveiling their own new plans to revive growth.

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