President Obama remains extremely popular, but there is
growing scepticism about his economic policies among business leaders, economists,
and even the American public.
However, an event this week may give a hint of how he might
fix the deficit.
Having made a very un-presidential gaffe, by wading into an
unedifying dispute between a personal friend of his and a police officer, he
tried to defuse the row by inviting
both parties for a beer at the White House.
There was intense media speculation about the brand of beer
Mr Obama would drink – in fact, he chose a Budweiser Light, a surprisingly
boring option given the range of beers available.
So he did for free what Budweiser would have paid him $10
million to do.
He could easily cash in on his popularity by endorsing a
range of products: basketballs, gym shoes, Portuguese dogs, white shirts, etc.
This could raise millions toward funding his stimulus package.
Some might complain that this would undermine the dignity of
Not so: the British Royal Family have been endorsing products for centuries. Doing it for
nothing is bad business – and not the American way.