Obama’s Approval Rating On Economy Plummets To 33% in New Poll

October 19, 2011

A majority of Americans think President Obama’s $447 biillion proposal to create jobs will not actually help lower the unemployment rate, according to a poll released Wednesday by Bloomberg.

And his overall approval rating on the economy fell to 33 percent from 39 percent in June. His approval rating on the economy was 43 percent in March.

His economic disapproval ratings rose to 67 percent from 57 percent in June and 52 percent in March.

Those are grim numbers for the White House and the trend is clearly going in the wrong direction just as the campaign season heats up.

Core Support Decline

Of the respondents who said they’ve supported Obama at one point since he launched his presidential campaign in 2007, fewer than half say they still support him as fervently.

Thirty-seven percent say their support has waned and 19 percent say he lost their backing because they’ve grown disappointed or angry with his leadership.

Almost a third of Democrats and Democratic-leaning respondents say they’d like to see Obama face a primary challenge.

From:  http://www.cbsnews.com/8301-503544_162-20105949-503544.html


66% of Americans Think U.S. Is Heading In Wrong Direction Under Obama

June 23, 2011

Two years after the official start of the recovery, the American people remain pessimistic about their current economic circumstances and longer-term prospects.

Fewer than a quarter of people see signs of improvement in the economy, and two-thirds say they believe the country is on the wrong track overall, according to a Bloomberg National Poll conducted June 17-20.

“Gas prices are higher, grocery prices are higher, transportation prices are higher,” says poll respondent Ronda Brockway, 54, an insurance company manager and political independent who lives in a suburb of Harrisburg, Pennsylvania. “The jobs situation nationwide is very poor.”

By a 44 percent to 34 percent margin, Americans say they believe they are worse off than when President Barack Obama took office in early 2009, when the U.S. was in the depths of a recession compounded by the September 2008 financial crisis and the economy was losing as many as 820,000 jobs a month.

The gloom covers the immediate future, with fewer than 1 in 10 people expecting unemployment to return to pre-recession levels within the next two years, and it extends to the next generation. More than half of respondents say their children are destined to have a lower standard of living than they do, upending a traditional touchstone of the American Dream.

From:  http://www.bloomberg.com/news/2011-06-22/americans-worse-now-than-when-obama-inaugurated-by-44-34-margin-in-poll.html


Obama’s Loses Third Economic Advisor: Rats Abandoning the Sinking Ship; Obama in Denial

June 15, 2011

It’s most interesting to me that all three of Obama’s chief economic advisors were professors of economic theory at major universities, all three were abject failures, all three resigned, and all three went back to teaching economic theory at major universities. 

God help those poor students who get stuck under their tutelage…

— Spencer

For the second time in less than a year, Barack Obama is hunting for a new chief economic adviser, after the man he appointed last September said he wanted to quit.

Professor Austan Goolsbee’s decision comes as a poll yesterday rated the President’s handling of the economy at a record low, and suggested that the he would run neck and neck with the Republican frontrunner Mitt Romney, a private equity millionaire, in a presidential match-up next year.

Mr Goolsbee, 41, has been at Mr Obama’s side since the 2004 Senate campaign that launched him to national fame, and is the youngest member of the president’s cabinet. He leaves his post as chairman of the White House Council of Economic Advisers to return to academia.

Yesterday the President said of Mr Goolsbee: “He has helped steer our country out of the worst economic crisis since the Great Depression, and although there is still much work ahead, his insights and counsel have helped lead us toward an economy that is growing and creating millions of jobs.”

The turnover of the White House economic staff has been a notable feature of the Obama administration, as it has struggled to deal with the effects of the financial crisis and a recession that has left unemployment at more than 9 per cent.

The Democrat heavyweight Larry Summers, President Obama’s first economics chief, went back to his post at Harvard before last year’s mid-term elections without being directly replaced, and the former head of the Council of Economic Advisers, Christine Romer, also went back to academia. Only Tim Geithner, the Treasury Secretary, looks likely to serve the full presidential term.

From:  http://www.independent.co.uk/news/world/americas/obama-loses-his-chief-economic-adviser-2294357.html

Thanks, Obama! U.S. Now In Even Worse Shape Than Greece

June 13, 2011

Much of the public focus is on the nation’s public debt, which is $14.3 trillion. But that doesn’t include money guaranteed for Medicare, Medicaid and Social Security, which comes to close to $50 trillion, according to government figures.

The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show.

Taken together, Gross puts the total at “nearly $100 trillion,” that while perhaps a bit on the high side, places the country in a highly unenviable fiscal position that he said won’t find a solution overnight.

“To think that we can reduce that within the space of a year or two is not a realistic assumption,” Gross said in a live interview. “That’s much more than Greece, that’s much more than almost any other developed country. We’ve got a problem and we have to get after it quickly.”

Thank You, Obama! Canada’s Economy Expanding at Twice the Rate of U.S.

May 30, 2011

Canada’s economy expanded at a 3.9% annualized pace in January through March, the fastest clip in a year and more than double the rate in the U.S., as businesses replenished inventories and boosted investment spending and exports rose while consumer and government spending stalled, Statistics Canada said Monday.

Gross domestic product growth was marginally below the consensus call of 4%, and also undershot the Bank of Canada’s 4.2% forecast.

GDP growth accelerated from a downwardly revised 3.1% …

From:  http://online.wsj.com/article/SB10001424052702303745304576355170933584418.html?mod=googlenews_wsj

After 45 Americans Are Killed in Tornadoes…Obama Goes Golfing

April 18, 2011

Tornadoes killed 45 Americans today in 6 states.


Obama went golfing.




It was his 64th round since moving into the White House.


As one reporter noted, the media was a little shy about reporting on Obama’s latest golf outing:


While Southern states reeled from a massive tornado outbreak that killed several dozen people, Barack Obama played his 64th round of golf as president today.


The White House pool reporter filed reports on Obama’s departure for the links at Andrews Air Force Base and on his return to the White House.


However there are no reports by the media informing the public about Obama’s golf outing.


Also…another 5 Americans were killed today in a suicide bombing at a military base in eastern Afghanistan.



From:  www.humanevents.com/article.php?id=42999

Thanks, Obama! So Far, Tax Cut is Going Down the Gas Tank (Why Won’t He Let Us Drill?)

March 28, 2011

Americans are earning and spending more, but a lot of the extra money is going down their gas tanks. Gas prices have drained more than half the extra cash Americans are getting this year from a cut in Social Security taxes.


Unlike some other kinds of spending, paying more for gas doesn’t help the economy much. Most of the money goes overseas, and higher prices leave people with less money to buy appliances, computers, plane tickets and other things that can be postponed.


“When food and gasoline prices are rising, it causes people to hunker down,” said Chris G. Christopher Jr., senior economist at IHS Global Insight.


Consumer spending jumped 0.7 percent last month, and personal incomes rose 0.3 percent, the Commerce Department said Monday. Both gains reflected the cut of two percentage points in the Social Security tax, raising take-home pay.


They also illustrated how higher gas prices are stressing household budgets. After adjusting for inflation, spending rose just 0.3 percent. After-tax incomes actually fell 0.1 percent.


The Social Security tax cut will give most households an additional $1,000 to $2,000 this year. In December, when President Barack Obama signed it into law, economists predicted higher take-home pay would lead to more spending and stronger economic growth.


But gas prices have jumped more than 50 cents a gallon this year. In late December, they hit $3 a gallon for the first time in two years. Last week, they averaged $3.58 nationwide, according to AAA’s daily fuel gauge survey.


From: http://news.yahoo.com/s/ap/20110328/ap_on_bi_go_ec_fi/us_economy