The Obama administration has a problem. As much Republican good will or corporate campaign cash as they expect to gain from their reinforcing of the deficit hysteria meme (which, let’s face it, will not be very much at all), even the most cynical of the president’s economic team realizes that all this budget cutting isn’t going to do squat for the current economy. Without something directly stimulative, the recovery likely stalls. Without some sort of jobs program, the unemployment picture continues to look grim. There is no “car” to worry about putting in reverse—it has been spinning its wheels for some time now, and, as most Americans see it, it never did drive out of that ditch.
Yes, with 2012 shaping up to be another “it’s the economy, stupid” election year, O & Co. has a problem—but with the same deficit hawks and scorched-earth partisans controlling Congress, what is a president obsessed with bipartisan-like process to do?