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 the Presidency.

Not so: the British Royal Family have been endorsing products for centuries. Doing it for nothing is bad business – and not the American way.