As President Obama's Jobs Summit begins today, the economy has really moved back to the forefront of the public debate, leading many to wonder why it was back-burnered in the first place. The obvious explanation is that the Stimulus bill along with the TARP funds issued during the Bush Administration needed some time to do...well, whatever it is they were expected to do- presumably to prob up the failing banks so that lending could resume and companies could begin to loosen their belts.
As we're nearing the one-year-later mark following the stimulus, the number of constituents hailing its success is slim to none. New unemployment statistics are due out on Friday, but most are expecting the 10.2% Unemployment rate to grow, or at best remain stagnant for many months to come.
I've been drawn to a interesting debate on NPR's Intelligence Squared, which is an hour-long Oxford-style debate in which the winner is decided by an audience vote at the end. The most recent debate was over the notion that "Obama's Economic Policies are Working Effectively." There are three panel members on each side of the debate ranging from former Treasury members, to economic policy developers, professors, writers, and governors.
It's a great debate to throw on in the background at work if you're still as utterly conflicted about the economy as I am.