Posted by Craig Rozelle
President Obama fired a CEO, threatened to let two automakers file for bankruptcy, made his first appearance at a summit of world leaders, and saw the blueprint for his budget pass some congressional hurdles.
It was all in the president's 11th week in office.
The week ended with another grim reminder of the nation's economic troubles: The government said Friday that the unemployment rate rose to 25-year high.
On Monday, General Motors CEO Rick Wagoner was forced to resign after the administration said GM and Chrysler LLC., which are being kept afloat with government loans, failed to make sufficient progress toward economic viability. That means a "structured bankruptcy" could be in the cards for one or both automakers.
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