One-Term Obama and the Economy

Hey, I don't just make this stuff up. A prolonged downturn could make President Obama a one-term president. Here is how liberal economist Robert Kuttner sees things: "In Kuttner’s view, nothing short of a return to New Deal-style government intervention will be enough to prevent the dire economy from dooming Obama’s Presidency. ... According to Kuttner, the next President must be willing to spend at least six hundred billion dollars—a Keynesian outpouring—on public works, health care, energy independence, unemployment benefits, mortgage refinancing, aid to state and local governments, and other programs. Otherwise, the country will slide into a depression that will rival the one Roosevelt inherited."

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