Obama as Comeback Kid Just Needs Weaker Dollar: Simon Johnson

Conventional wisdom has it that Barack Obama’s administration is on the economic ropes.

Unemployment is high and might rise more, even though the recession officially ended more than a year ago. The 2009 fiscal stimulus is widely regarded as having been, at best, a bore, so there is no serious political interest in making another such effort. The political right is pounding the fiscal-responsibility drum all the way to the midterm elections.