Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
July 23, 2014

Obama Signals New Perspective on Economy

President Obama kicked off a string of economic speeches today that will flesh out his economic vision before Congress begins debating the debt ceiling, sequestration, and tax reform. Ezra Klein believes that the speeches are not so much a “pivot” back to the economy, as much as “a different way of looking at the jobs problem.”

“This speech marked the Obama administration’s pivot from emergency measures to create jobs right now to a more long-term agenda for creating jobs… That represents an acceptance of a political reality as much as an economic one: Mass unemployment hasn’t left us, and the Obama administration would still like to see their plans for addressing it passed. But the political conditions for doing anything about mass unemployment died in 2010.”

“So the White House is pivoting toward a set of economic ideas that they hope Congress might be a bit more receptive to — ideas that solve our long-term problems rather than our short-term crises.”

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