WASHINGTON – President Barack Obama dodged a debt-ceiling fiasco Tuesday. He reacted with a wiped brow more than a victory lap, and with good reason.
As Republicans gradually weigh a potential challenger, Obama’s re-election bid faces daunting problems: high unemployment, a limping economy, lackluster approval ratings and a demoralized liberal base. The last-minute debt agreement prevented a full-blown disaster. But it might do little or nothing to help Obama’s campaign.
It cuts spending that might otherwise have produced jobs. And for now, at least, it keeps Obama from claiming he tackled long-festering problems such as Medicare, Social Security and a revenue base that consistently lags behind the nation’s spending habits.
Obama has considerable political assets, including robust fundraising and an up-and-running nationwide operation. Also, the Republican primary process is murky, and it’s too soon to gauge whether it will produce a top-notch nominee who can match Obama’s proven campaign skills.
But job worries are dominating this election, and economists see little likelihood of a serious recovery before the November 2012 election. The man who ran on hope and change in 2008 is hoping voters will decide against change this time, fearing the GOP nominee would be worse.
Obama seems well aware of his challenges. In
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