Since signing the newly passed debt plan, President Obama has publicly vowed that creating jobs would be his number one priority. But can he keep this promise?
A number of political watchdog organizations believe that Obama and Federal Reserve Chairman Ben Bernanke are virtually out of options on ways to create more jobs.
James Thurber of American University’s Center for Congressional and Presidential Studies believes that Obama has lost much of his political clout in Washington after yielding so much to the Republicans on the debt plan.
John Makin, economist at the American Enterprise Institute in Washington said:
“It seems we’ve thrown everything at it. We’ve had QE1 and QE2, Stimulus 1 and Stimulus 2, and the unemployment rate is still 9.2 percent. Maybe there are just not many options here at this point,”