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June 18, 2009
American people don't believe Obama has a clue on the economy
Obama's catastrophic economic policies have not had an effect on his personal popularity - yet.
But that doesn't mean they aren't getting very worried about the fact that they don't see much of a plan for getting the economy restarted, much less any good ideas from the administration on how to bring down the deficit.
Americans also have huge problems with Obama's statist takeovers of the banking and auto industry, as well as his goal of nationalizing health insurance.
This much is evident in two new pollsl out today from The Wall Street Journal/NBC and the New York Times/CBS.
First, the Journal poll is analyzed by Laura Meckler:
Nearly seven in 10 survey respondents said they had concerns about federal interventions into the economy, including Mr. Obama's decision to take an ownership stake in General Motors Corp., limits on executive compensation and the prospect of more government involvement in health care. The negative feeling toward the GM rescue was reflected elsewhere in the survey as well.
The people simply don't believe that the takeovers and the incredible deficits were necessary to save the economy or stimulate the private sector.
The New York Times/CBS poll had even worse news for the president as Jeff Zeleny and Dalia Sussman report:
A distinct gulf exists between Mr. Obama's overall standing and how some of his key initiatives are viewed, with fewer than half of Americans saying they approve of how he has handled health care and the effort to save General Motors and Chrysler. A majority of people said his policies have had either no effect yet on improving the economy or had made it worse, underscoring how his political strength still rests on faith in his leadership rather than concrete results. As Mr. Obama finishes his fifth month in office and assumes greater ownership of the problems he inherited, Americans are alarmed by the hundreds of billions of dollars that have been doled out to boost the economy. A majority said the government should instead focus on reducing the federal deficit.
The Journal poll also shows a drop in the president's approval numbers from 63% to 56% in just two months. Critically, independents now are almost evenly split where before, the president enjoyed a nearly 2-1 approval rating.
All this points to big trouble ahead for Obama and the Democrats. As unemployment continues to climb, interest rates start spiking, and inflation rears its ugly head, people will start abandoning the president in droves.
But where will they go? Currently, the GOP enjoys a favorable rating with the public of an anemic 28% according to the Times poll - the lowest since they've been polling that number. It presents a tremendous opportunity for Republicans who are currently ill-equipped to take advantage. Almost leaderless and disorganized, GOP lawmakers and politicians are at sea about how to win back the American people to their party.
Unless they can come up with a plan very soon, they will find themselves almost as bad off in 2010 as they have been since they lost control of the Congress.
Hat Tip: Ed Lasky