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Economy tests limits of US presidents’ power
October 29, 2011
WASHINGTON – President Barack Obama occupies the most powerful political office in the world, but when it comes to managing the economy he — and his predecessors — are more impotent than many Americans believe.
It is a truism of American politics that the president carries the can.
Whether it is a war going sour or a roaring legislative victory years in the making, as the sign on Harry Truman’s desk put it: “The buck stops here.”
Unfortunately for Barack Obama, the buck is stopping at 9.1 percent unemployment, record national debt and a measly growth rate of 2.5 percent.
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