He promised a "quick and intrepid action" dictated by the State o the economy. It is too early to judge, but according to the latest polls, American oters remain ery shared on the balance sheet o the irst year o Obama. I it has gained ground on oreign policy and the ight against terrorism, still operating in some choppy waters on the reco ery o employment and the re orm o the health care system. Ten months o the mid-term elections o No ember 2 - where the whole o the 435 seats in the House o representati es and one third o the Senate seats will be renewed - Barack Obama disco ers the limits o American presidential power. Despite the breakthrough o the health re orm in the Senate, on the e e o Christmas, high uncertainties in the hopes o reco ery and the decline in unemployment in 2010 are likely to weigh hea ily on the ery next month.
"There are periods when progress appeared to be too slow", recognized Barack Obama, lying, this weekend, to the rescue o the Democratic candidate Martha Coakley aces, to the General surprise, in a ery close ight with Republican Scott Brown to the headquarters o the Massachusetts Senator. The ote to take place yesterday. Indeed, or ictory o the latter, the Democratic Party could lose its aluable majority o 60 seats in the Senate, which would call into question the objecti e o the President to promulgate the re orm o the health on the e e o his speech on the State o the Union o 27 January. With a rating o 50 (against 62 a year ago) according to the latest poll published Monday, CBS Barack Obama completes his irst year in power with one o the lowest scores since Eisenhower. Only Reagan had done less well in 1982 (at 49).
7.6 million lost jobs
Despite undeniable progress - although not unsuccess ul - on health re orm and clari ication o its policy in A ghanistan, it is in the economic ield that Barack Obama remains acing the greatest di iculties. O course, the White House has recently targuée to ha e "sa ed" between 1.5 and 2 million jobs by the $ 787 billion stimulus plan launched in ebruary. But with 15.3 million unemployed in December, the US economy lost 7.6 million jobs in two years, and some analysts still predict a peak in unemployment to 10.8 in October 2010. PIs: some economists do not exclude a likelihood o recurrence o the growth in the second hal . To Martin eldstein, ormer President o the National Bureau o Economic Research (NBER), nothing is today that the US economy is e en out o the recession.
"The di iculties o the Obama administration are not the result o excessi e ambition, but error e aluation and political judgements," said the Nobel Laureate Paul Krugman in "new york times". or him, "stimulus was too small and the policy to not se ere enough banks." This "light hand" policy or banking and inancial regulation would not ha e allowed to unblock credit, crucial or reco ery. E en i Barack Obama has recently hardened the tone on Wall Street bonuses by proposing to Congress to establish the " inancial crisis responsibility ee", progress is still poussi s on the ront o the re orm o the regulation.
De use criticism
"Let us be clear: bankers do not need an extra ote in the Senate", launched Sunday President to discredit the Republican candidate or the succession o Ted Kennedy in Massachusetts. A ter ha ing tried the map o the bipartisan opening, it seems that Barack Obama recently intended to "gauchiser" his speech on the economy, including tax"banking". A way o de using the recurring criticisms on the weight o the Wall Street to the White House lobbies that threaten to re lect on his economic team. But the outcome o the mid-term elections depends especially on the e olution o employment in the irst hal .