Thursday, July 9, 2009
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.
Posted by Scott Grannis at 8:31 AM