Debate: Can Obama Lead Us Out of Recession?

Can one man bring the US back from the brink?

• Yes, he can, says Investors Chronicle online editor Jonathan Eley.
  Why?
  He has power on Capitol Hill, with Democratic control in both houses.
  His stimulus plan has won approval from the likes of Paul Krugman and Robert Reich, and will invest in rebuilding the US's "surprisingly dilapidated infrastructure", rather than just instituting tax cuts.
  His economic team comprises "some of America's finest minds as advisers, not just a bunch of his Wall Street buddies".
  The US attitude is more receptive to the public sector post-financial meltdown. "Many Americans now regard big business and Wall Street as greedy and self-serving, and are ready to accept that the public sector may contribute to national prosperity."
  The feelgood factor. Obama himself's off-the-charts approval ratings matter, whatever your political leanings. A renewed and energised US could "pull itself out of the mire quicker than many think".

• No he can't, says Russ Roberts, professor of economics at George Mason University.
  Why?
  It's a lovely idea but "Barack Obama has no idea of how to get the economy out of the mess we're in".
  If top economists -- some Nobel Laureates -- have been blindsided by the current economic downturn, why should Obama's economic team fare better at anticipating and addressing its next shift, however good their intentions?
  The current financial problems are unprecedented. "There is no recipe or manual for getting the economy back on track".
  The economy is not run by a single person, anyway. The US will emerge from difficulty, and Obama can help -- but he could just as well hinder. "Some part of the current mess we're in is the result of erratic government policy that has added to the uncertainty..."