A calm manner, rhetorical gifts and the promise of new ideas all contributed to Barack Obama's rise to the US presidency as Americans put their trust in him to rescue the economy from its worst crisis in decades. Now the public and the financial markets want to see if he can deliver. Obama inherits a deepening recession, a shattered financial system, a housing-market meltdown and trillion-dollar budget deficits well into the future. Well aware that stemming the economic decline is the No. 1 priority for his first 100 days in office, Obama is diving in. Obama has to deliver on economic revival and comfort the fears of millions now out of work or at risk of losing their livelihoods, their homes and their health care. Obama is working with lawmakers to craft an $825 billion fiscal stimulus package and has successfully lobbied for the second $350 billion of a financial rescue fund. He has promised quick action to reform a dysfunctional Wall Street regulatory system that has been blamed for the subprime mortgage fiasco and a cascade of problems that led to the collapse of once-venerable investment firms including Lehman Brothers. A more immediate challenge is securing confirmation for his Treasury secretary nominee, Timothy Geithner, whose selection has hit a snag over errors on his personal taxes and questions about the work papers for a housekeeper. But a key task confronting Obama is managing the daunting expectations the public has laid out for him. “The expectations for the Obama administration are off the charts. He is regarded as a potential savior for the country in a number of ways,” said William Keylor, a history professor at Boston University. “Whatever he accomplishes will be below the extraordinary expectations that people have for him.” Ross Baker, a political scientist at Rutgers University, said even if the stimulus plan were to pass quickly, its effects will not be felt for at least several months. “The economy does not respond to defibrillation,” Baker said. “People have this notion that you can put the paddles on it and restore it back to life and that's quite unrealistic.” Reaching his target Obama has set mid-February as a target for passage of his package of public works programs, tax cuts, unemployment aid and other measures aimed at jump-starting the economy. A Senate panel has set Wednesday as the date for a hearing on Geithner's nomination. Now that the Senate has agreed to release the remaining $350 billion from the financial bailout program, Obama must follow through on promises to better address the mortgage foreclosure crisis and ensure accountability for firms receiving money from the rescue fund. Analysts believe those priorities will crowd out other top items on Obama's domestic agenda. These include overhauling the health care system and enacting broad legislation to stem climate change – although some elements of Obama's proposals to encourage energy efficiency are part of the stimulus package. Obama, known for his charisma, must walk a fine line between inspiration and avoiding inflated expectations.
