Wednesday, June 13, 2012

Obama Asks For more Time to Fix the Economy

(Reuters) - So far, President Barack Obama has not been able to convince most Americans that they are better off than they were four years ago. His next step may be to try to convince them that they would be worse off under his Republican rival, Mitt Romney.

In an economic speech on Thursday that could set the tone for months of campaigning, Obama is not likely to unveil new ideas to boost the economy and create new jobs, according to Democrats familiar with the preparations for the address.

Instead, he will make the case that he needs four more years to undo the damage left by George W. Bush, his Republican predecessor in the White House, and argue that a President Romney would bring back the weak financial regulation and budget-busting tax cuts of the Bush years.

Obama already is making this argument to small groups of supporters.

"The last thing we want to do is return to the very policies that got us into this mess," he said at a fundraiser in Baltimore on Tuesday.

The strategy carries risks for Obama. Read More