This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Economic Jitters Compete With Obama Agenda

But he cautioned, "We need to make sure that in Washington we are not taking actions that undercut that progress that we have been making and can continue to make and will continue to make."

Carney said letting the automatic cuts take effect is a "sort of political brinksmanship of the kind that results in one primary victim, and that's American taxpayers, the American middle class."

Still, the White House insists the only alternative to those cuts is a mix of savings and new tax revenue. Republicans say the $600 billion in revenue they already gave Obama as part of the New Year's fiscal cliff deal is enough. They insist that if he wants different spending cuts than those due to start on March 1, he should submit a new plan.

But the White House has been eager to move away from fiscal and budget fights, ready to use the president's re-election and the uptick in his popularity to push his noneconomic agenda.

On Tuesday, he traveled to Las Vegas to push for an overhaul in immigration. On Monday, he is traveling to Minneapolis to promote his proposals to reduce gun violence.

The issues are not simple ones for Obama. The economy and the nation's debt still rank higher than immigration and guns as issues in the mind of the public. Moreover, Obama has to navigate gingerly with Congress on immigration, where a fragile coalition of Democrats and Republicans is assembling legislation that, among other things, could provide a path to citizenship for 11 million illegal immigrants in the U.S.

Obama has vowed to use his bully pulpit to build public support for his new agenda. Defending his economic stewardship was not supposed to be part of the playbook.

Follow Jim Kuhnhenn on Twitter: http://twitter.com/jkuhnhenn

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,637.51 -92.60 -0.52%
S&P 500 2,064.51 -12.27 -0.59%
NASDAQ 4,977.7870 -31.4270 -0.63%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs