Unemployment increased to 9.1 percent in May, and only 54,000 new jobs were created. Economists point to lingering impacts of the tsunami plus rising food and gas prices.
“Yes We Can” was so 2008. Now President Obama is the incumbent, with a record to defend. More than whom the Republicans nominate to run against him in 2012, how voters perceive Mr. Obama’s accomplishments and liabilities – two highly subjective categories, at times overlapping – will determine whether he gets four more years. Here are his top six liabilities, including still-high gas prices:
Non-specific terms like 'tax reform' and 'entitlement changes' help rally people around the idea that some changes must be made
The United States added 216,000 new jobs in March, mostly in the private sector job market, driving the unemployment rate down to 8.8 percent.
President Obama's chief economist, Austan Goolsbee, discussed the economic impact of rising oil prices, why he believes corporate leaders will create jobs in the US, and why it's a bad idea not to raise the US Government's debt ceiling at a Feb. 24 Monitor breakfast.
Not only did the unemployment rate fall, but the US economy added 192,000 jobs in February. But economists view the numbers differently.
Rapidly rising oil prices, and fears it could harm the US economy, make tapping the strategic reserves a tempting option. But analysts say it would work only for the short term.
The White House is monitoring rising oil prices but sees the US economy as better positioned to absorb them than in 1979, when oil prices spiked in the wake of the Iranian Revolution.