Originally posted by: loki8481
can the president even have a real impact on the economy?
The president affects optimism / pessimism. That impacts the economy - possibly even BEFORE the president is even in office.
The president BY LAW sets the initial budget in the beginning of the year, by law puts the budget back on his/her track mid summer, and by the consititution signs the budget or vetos it if it didn't stay close to his/her initial budget. With government spending a major factor in the economy, the president has a real impact on the economy. Sure, congress was supposed to have this full authority but they gave it up in the 1920s with the laws they wrote.
The president appoints the federal reserve chairman. The chairman's actions on interest rates have real impacts on the economy.
Not to mention dozens of other impacts, such as the $700 billion dollar bailout under control of the president's appointees.