Since the end of May, the number of people who strongly disapprove of Obama's performance has surged by 46%, and that in turn has driven his approval rating (the difference between how many strong approve and strongly disapprove) to -8. That's down from 30. The message for the economy is positive: Obama is rapidly losing the ability to drive his hard-left, big-government agenda. And that means that the threat of higher taxes and more regulation is declining. This threat is still the biggest obstacle to recovery, in my estimation, but at least the downside risks are diminishing on the margin.
Thursday, July 9, 2009
Obama in free-fall?
Since the end of May, the number of people who strongly disapprove of Obama's performance has surged by 46%, and that in turn has driven his approval rating (the difference between how many strong approve and strongly disapprove) to -8. That's down from 30. The message for the economy is positive: Obama is rapidly losing the ability to drive his hard-left, big-government agenda. And that means that the threat of higher taxes and more regulation is declining. This threat is still the biggest obstacle to recovery, in my estimation, but at least the downside risks are diminishing on the margin.
Too bad Bush left him with a government where the spend obligation was OVER $3 Trillion higher than when Bush took office and revenues evaporated the day Obama walked in the door.
ReplyDeleteScott,
Soon you will realize that President Obama inherited a bankrupt business that can no longer genrerate enough revenues to service its spend obligations without destroying the currency.
The actions of the current administration are only to extend and pretend the problem doesn't exist.
It is not a very difficult concept once you think about it for a second. The issue now is how will the burden of a systematic insolvency be allocated among the citizens of America.
Bush Derangement Syndrome, though it dies hard, will get you only so far and ultimately is a religion of dead enders.
ReplyDeleteMy opinion of Obama hasn't changed. The world is catching up to me.
fb,
ReplyDeleteYou are dead on.....as the misguided debate Repubican or Democratic culpability....America continues to shut down a little more everyday.
The staff at Smith & Hawken in Edina's Galleria mall put on their game faces Wednesday afternoon, even as they were given the worst possible news: The upscale gardening store will start liquidating inventory Friday, and will close for good as soon as everything's sold.
Managers found out in an emotional 1 p.m. conference call that all 56 Smith & Hawken stores will close by the end of the year.
http://www.startribune.com/business/50258927.html?elr=KArks:DCiU1OiP:DiiUiacyKUnciaec8O7EyUr
Hundreds of jobs gone. 56 more commercial vacancies. More tax revenues evaporating.
The slowing gets a little slower everyday.
Just wait until government is forced to fire millions of workers.
SCOTT,
ReplyDeleteDo you blame Obama for this:
With swine flu showing no sign of taking a summer vacation, the pandemic virus has claimed a fourth victim in the county and is surfacing at children's camps across the country, including one in Julian.
Outbreaks at 52 camps in 20 states have been reported to the federal Centers for Disease Control and Prevention, spokesman Joe Quimby said yesterday. Because the CDC and states don't require such reporting, the true number of camp outbreaks is likely higher, Quimby said.
http://www3.signonsandiego.com/stories/2009/jul/08/swine-flu-detected-kids-camps/?metro&zIndex=128421
Imagine the economic impact if this keeps spreading.....and we find out its molecular structure is man made.
Dear Scott, I wonder whose blog this is. It seems like almost every issue you discuss is hijacked by this individual. I suppose this is his effort to drive traffic to his misguided site. Is there anything that can be done to keep comments on point? Thank you for all your efforts and great insights.
ReplyDeleteI will stop commenting for a while.
ReplyDeleteAlstry,
ReplyDeleteThe swine Flu's structure is molecular made?? I am a scientist at the NIH and I can tell you that statement is wrong. Mulder and Scully are in the next chat room, pal.
Scott,
Who conducted this survey? Do you have the specific questions asked? AND more importantly do you have the complete poll results (who approved, was neutral, and who disapproved)? This are important questions to answer before we can evaluate this poll. Thanks.
I will make this quick exception from my comment break...
ReplyDeleteMatthew,
As an attorney and creator of Alstrynomics, Alstry only analyzes admissible EXPERT evidence.
Tamiflu Developer: Swine Flu Could Have Come From Bio-Experiment Lab
http://abcnews.go.com/GMA/SwineFlu/story?id=7584420
My guess is this guy is a scientist and qualified expert as well....pal;)
Matthew: The poll is conducted every day by Rasmussen Reports. You can see the commentary here:
ReplyDeletehttp://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
The historical data is here:
http://www.rasmussenreports.com/public_content/politics/obama_administration/obama_approval_index_history
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ReplyDeleteonly 8 of 51 economist believe another Obama stimulus is needed.
ReplyDeleteWSJ ARTICLE
I wonder how this will affect his approval rating.
Great to see that voters are learning the massive deficits, a weak dollar, expensive energy, and a bloated government make a America weaker and are not what our founders had in mind.
ReplyDeleteI have liberal friends that have commented "I would have never voted for Obama had I known...."
ReplyDeleteThe poll results are great news. As I've said previously, he knows it and that explains the rush to push things through.
Eighteen more months and we get America back.
I'm not surprised to see a dramatic decline in Obama's numbers.The stimulus package he passed was monstrous.
ReplyDeleteHe followed the old adage "If you're going to lie , Lie big"
He called his enormous multi year spending program a stimulus and it wasn't.
You can't dig your way out of a recession in 2009 by spending money in 2010-11.
He made big promises to the American people.
His numbers will continue to fall as his policies continue to fail.