With another tepid jobs report in the books Friday, Democrats desperate for quick policy action to boost the economy face an excruciating dilemma, experts say.
The few things that might pass Congress — such as a payroll tax holiday or extended research-and-development tax credits — won’t work, or at least not before November’s midterm elections, when Democrats face potentially devastating losses.
And the few things that might work — such as an aggressive new infrastructure spending bill — can’t pass, uniformly viewed as politically impossible at a time of trillion-dollar-plus deficits.
What to do? If you are President Barack Obama, you go out and talk about the economy — in Milwaukee on Monday, Cleveland on Wednesday and at a White House news conference Friday. He’s expected to propose some new business tax breaks next week, including possibly a payroll tax break and R&D credits, but the White House said no final decisions have been made.
Full Story: Dems have few options on economy – Ben White – POLITICO.com