Disappointing messageCan do what on what we agreed

The best defense is attack. With skepticism rampant on the impact in the short term of his new stimulus to employment measures, the US President is passed, this weekend, "campaign mode" in accusing the Republicans of hypocrisy. How can advocate for the extension of the tax cuts for high income and at the same time criticize a democratic administration accused of digging the Federal deficit On the eve of the opening of Parliament and seven weeks to the mid-term elections, where the Democratic party risks losing its majority in Congress according to polls, Barack Obama acknowledged that progress had been "terribly slow" for recovery. But it is entrenching saved 3 million jobs through the 2009 recovery plan and have avoided the American economy from sinking into a depression. Above all, he asked in better guarantee the interests of the middle class to the November 2 vote.

"Why take hostage the class average to do something that most economists deem absurd", has launched Barack Obama, in his September 10 press conference. Clearly, American President accuses Republicans of wanting to block, at the Congress, the extension of tax cuts for 97 of American households (of less than 250,000 dollars in annual revenues) to also obtain the extension of the concessions granted to the "millionaires and billionaires" by the Bush administration in 2001, which would be a "gift tax" $ 700 billion over 10 years. The extension of the legacy of George w. Bush tax cuts (originally designed for a period of ten years) remains at the centre of the campaign. While his former Director of the budget, Peter Orszag, militated for a temporary extension limited to two years, the Democratic President spoke to a perpetuation of reductions for annual revenues of less 200,000 dollars (250,000 dollars for homes), or a provisional tax cost of 2.800 billion over ten years.

Disappointing message

"Can do what on what we agreed." We may have a subsequent discussion on how they want to spend 700 billion for millionaires. "But I think it's a bad idea," said Barack Obama while stressing the responsibility of the Republicans in the crisis. If most economists as inevitable extension of tax cuts, the Congressional Budget Office (CBO) has not hidden it may aggravate the deficit of 4,1 of GDP in 2014. But Barack Obama on his new "tax package" $ 180 billion to jump-start the economy by stimulating employment and growth. In addition to its recovery plan for transportation infrastructure over six years, with immediate injection of $ 50 billion, Barack Obama proposed 200 billion in tax relief to stimulate industrial investment of companies (for a final tax cost estimated at $ 30 billion) and a renewal of the tax credit research and development of 100 billion over ten years. But these measures are tributaries of the green light from Congress. And most economists remain skeptical about their concrete impact in the short term on the level of unemployment (9.6 in August) and growth.

Despite his appeal passionate American unity and tolerance on the ninth anniversary of the September 11, some analysts felt his message on the economy rather disappointing ("boring"), in the absence of new elements. It is the reading of the results of November 2 that he decides to a potential shift.