Obama praised on economy, but unemployment remains

[ProSense]

Obama praised on economy, but unemployment remains

by Rob Lever Rob Lever

WASHINGTON (AFP) – Elected a year ago on a pledge to rescue a sinking economy, President Barack Obama is credited with helping avert a depression, but now faces a growing unemployment crisis that could torpedo both the recovery and his political fortunes.

Economists say the Obama administration's swift action along with a barrage of measures from the Federal Reserve allowed the world's biggest economy to avert deeper problems.

But the jobless nature of the recovery is proving more difficult to address and threatens to undermine progress in lifting the economy out of recession, say analysts.

"I think the administration handled the crisis very well, but it remains to be seen how they will cope with the exit strategy," said Sung Won Sohn, economist at California State University.

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[Captain Hilts]

1. Unemployment just can't be turned around that quickly, if at all. Not his fault. nt

[ProSense]

3. We'll see what happens. n/t

[toocoolforschool]

2. well if Bush had done a better job over the past 8 years!

[AllentownJake]

4. He has a shit storm to deal with

and he just got through the eye of the storm.