Posted on Fri, Nov. 6, 2009
White House officials have warned since taking office that this day was coming, and the West Wing contined to say in recent weeks that unemployment eventually would pass 10 percent, even as “green shoots” were busting out in the economy.
Obama aides nevertheless were dismayed by the worse-than-expected figure. They know that, following the Election-Day thumping, the West Wing is in for a barrage of harsh scrutiny and second-guessing. Advisers expect news organizations use this occasion to revisit conditions back in April 1983, and to reexamine Obama’s moves on the economy since he took office.
The White House activated a plan calling for the president’s economic advisers to hit the cable channels at 9:30 a.m., the first time the administration is allowed to comment under rules governing the 8:30 a.m. release. A written presidential statement is also planned.
The White House had scheduled Obama to sign an extension of an $8,000 homebuyer tax credit, the Worker, Homeownership, and Business Assistance Act of 2009. The ceremony was to be closed to the press, but the president is now expected to appear on camera in late morning.
An administration aide said: "If the bill is not signed by today, then benefits will be delayed by an additional week, putting the earliest many states could get payment out well into December. The majority of those who would benefit have been without extension since September. More joined them last month."
Obama can be expected to point to ongoing conversations about additional economic-growth measures. The administration also notes that the number of jobs lost in October — 190,000 — was less than the number lost in September, 219,000, and down from the 741,000 jobs lost in January, the month he took office. Aides also note that the gross domestic product for the third quarter, announced last week, showed growth for the first time in a year.
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