Tuesday, November 24, 2009
As these charts demonstrate, Obama suffers from an ongoing decline in his approval ratings that is of serious proportion. In the first chart, his Approval Index has plunged from +30 to -15. A majority of the country, according to the Rasmussen polling, now disapproves of the job he is doing. In the Gallup polls, the gap between those approving and disapproving has reached its smallest point ever: 49% vs. 44%.
For the markets, this is a significant development, since it means that the Democrats' ability to ram through economy-unfriendly and capital-unfriendly legislation (e.g., universal healthcare, cap and trade) is declining on almost a daily basis. From my perspective, this is extremely important, since it reaffirms my belief that the country was never ready for nor desirous of the radical left-wing agenda that Obama is trying to push. I think this marks a very important rightward shift in U.S. politics that could have huge and positive ramifications in the years to come.
Posted by Scott Grannis at 8:30 AM