economy

Obama: Don't Buy the Economic 'Snake Oil'

Obama speaks after touring the Saft America Advanced Batteries Plant in Jacksonville, Fla., on Friday. (Photo by JIM WATSON/AFP/Getty Images)

President Barack Obama on Friday delivered an upbeat assessment of the still-healing economy, but he also warned against betting on "snake oil" and "chasing false promises" to continue the recovery. Yet, his message was often met with lukewarm applause by a Florida crowd.  

The pejorative clearly was aimed at Republican presidential front-runner Donald Trump and the rest of the GOP field.  And while the president did not name the Democratic Party’s likely nominee, his call for a “steady, persistent” hand to “finish the job” of healing the economy could be the start of a long wind-up to endorsing Hillary Clinton.  

On Economy, Obama Needs GOP Congress

   

The Obama administration's top economic advisers said Monday they have done all they can to improve the economy and need cooperation from Congress to make more progress.  

Obama Pitches Budget's Cybersecurity Plan — At Length

Copies of Obama's fiscal 2017 federal budget are seen for sale Tuesday at the U.S. Government Publishing Office in Washington. (Photo By Al Drago/CQ Roll Call)

After submitting his final spending plan to Congress on Tuesday, President Barack Obama touted his record and delivered a sales pitch for nearly $20 billion he says is needed to secure America’s cyber-footprint, a perhaps unexpected but entirely needed push, he said.  

Obama is pitching a 35 percent hike in cybersecurity funding across the sprawling federal apparatus, saying the United States is increasingly at risk to attacks on its information infrastructure.  

On Unemployment Rate, Obama Spikes the Football

In this photo made using a teleconverter in-between two crop factors, President Barack Obama addresses a crowd of around 15,000 during a state arrival ceremony for Pope Francis on Sept. 23, 2015. (Photo By Al Drago/CQ Roll Call)

President Barack Obama on Friday took credit for the latest jobs report, saying the 4.9 percent rate shows his stewardship has made the U.S. economy the “strongest and most durable" in the world.  

The Labor Department on Friday released data that was a mixed bag for both American workers and the Obama administration. The numbers showed the lowest unemployment rate in eight years and rising wages; they also concluded that 151,000 new jobs were created in January, down from three consecutive months during which nearly 300,000 jobs were created per month.  

In Detroit, Parallels With Obama's Broader Economy

Obama points to his Shinola watch, which he already owned, after visiting a Shinola store in Detroit. (Brendan Smialowski/AFP/Getty Images)

President Barack Obama jetted Wednesday to an American city whose economic revival mirrors both the U.S. economic comeback under his watch and the often negative perception of it.  

Like the ongoing recovery in Detroit and across Michigan, the U.S. economy’s comeback often has been called sluggish and uneven. And like the revival of the Motor City and surrounding areas, economic recovery and healing in the nation has been called too slow. Speaking Wednesday at the annual auto show in Detroit, Obama declared the American auto industry “all the way back.” He hailed the automobiles that U.S. companies are producing, and said the sector’s comeback has slashed the area’s unemployment rate.  

Amid ISIS Worries, Voters Warm to Obama's Economy

Will Obama get credit for the economy being less of a concern?. (Saul Loeb-Pool/Getty Images)

Polls show voters are giving President Barack Obama higher marks for guiding the economy, but security concerns could be clouding recent snapshots of the electorate’s mindset.  

Trends in voters’ collective worries have transformed, for now at least, the 2016 election cycle into one focused in large part on national security and foreign policy issues. In recent months, terrorism has surged to the top of lists of voters’ top concerns nearly 10 months before the presidential and congressional elections. “I don’t think that’s a reflection that the president’s policies have worked,” said Sen. Kelly Ayotte of New Hampshire, a Republican up for re-election in 2016. “I’m guessing they’re saying national security is their top concern right now.  

White House Casts Budget Deal as Jobs Engine

President Barack Obama (Tom Williams/CQ Roll Call file photo)

The White House is describing a budget and debt deal it struck with congressional leaders as a job-creation engine, a day before a key Senate vote on the measure.  

The Obama administration used a statement about gross domestic product growth during the third quarter of 2015 to predict the sweeping fiscal plan would create "an estimated 340,000 jobs in 2016." The Senate is on track for a Friday procedural vote on the deal after the House passed it , with mostly Democratic votes, on Wednesday.  

Missing the Boat on the Big Political News

The Dow Jones industrial average briefly dropped more than 1,000 points in morning trading on Monday. (Spencer Platt/Getty Images)

On Aug. 21, I did something — twice — that I rarely do. I tweeted. But it wasn’t about Donald Trump’s poll numbers or Hillary Rodham Clinton’s emails. It was about the stock market’s plunge.  

While Trump’s latest salvo (no matter the subject) is always entertaining and the size of Bernard Sanders’ most recent crowd is worth noting, Wall Street’s current performance and the investment community’s nervousness could turn out to be more important for the two parties next year.  

Opinion Duel: CQ Roll Call Moderates Debate on Raising the Minimum Wage

In the third installment of The Purple Network’s “Opinion Duel,” Roll Call Editor-in-Chief Christina Bellantoni moderated a discussion with Charles C. W. Cooke , from National Review and The Nation ’s Zoë Carpenter over the politically charged topic of increasing the minimum wage.  

Carpenter contended that "even Republicans in the South" want the minimum wage raised to $10.10 an hour, but said that hike might not be enough. "There's a lot of momentum" for legislative action, Carpenter said. Cooke took issue with the idea that raising the minimum wage would "lift people out of poverty" saying that most who currently make minimum wage are not below the poverty line. "When you're looking at how to help people in need," Cooke said, minimum wage is "often not the best way to do it."