Archive for Thursday, June 23, 2011

Slow economic recovery weakens President Obama’s support

June 23, 2011

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— Mired in economic worry, Americans are growing gloomier about where the country is headed and how President Barack Obama is leading it. Opinions of the economy are at the lowest of the year as high gas prices, anemic hiring and financial turmoil abroad shake a nation’s confidence.

Obama has hit new highs he’d like to avoid — in public disapproval over his handling of the economy in general and unemployment in particular — according to a new Associated Press-GfK poll. In addition, more disapprove of his handling of health care and the federal budget deficit than in the past.

The poll shows that four out of five people now believe the economy is in poor shape. And, separately, Federal Reserve Chairman Ben Bernanke said Wednesday that some causes of the slowdown, including a depressed housing market, could persist into next year. Bernanke said the Fed believes growth will pick up going into 2012 but at a slower pace than expected.

How slow is a matter of high interest at the White House. A little more than 16 months before the November 2012 election, the public is split on whether the president deserves a second term.

For the first time this year in AP-GfK polling, respondents who say Obama deserves re-election have fallen below 50 percent into a virtual split of 48-47 in favor, a demanding challenge for him. Economic concern has quickly stripped away the gloss he briefly gained after the death of Osama bin Laden.

Obama’s re-election team is no doubt concerned as well. The president has been traveling every week for months to campaign battleground states to promote job initiatives. He acknowledges the sluggishness of the recovery, illustrated by May’s uptick in unemployment.

The price of gasoline at the pump has declined a bit recently though it is still nearly 90 cents higher on average than a year ago. White House officials are also monitoring the precarious fiscal situation in Greece where a default by the government could send damaging financial tremors across world markets.

Obama’s overall approval rating fell to 52 percent in the new poll, in line with his ratings before the daring raid in Pakistan by U.S. commandos last month that killed bin Laden.

Comments

cato_the_elder 4 years ago

The most recent Gallup Poll results are much more damaging to Obama than those in the poll cited in this article.

jafs 4 years ago

With our system, compromises are frequently necessary in order to get anything done.

gudpoynt 4 years ago

No, they didn't twist any arms. The Dems were in favor of keeping the tax breaks for everybody except the top 2% of wealth holders. Remember that? Remember how the Republicans whined like little babies? Remember how they said, over and over, how if the top 2% couldn't keep their tax breaks then nobody could keep them?

Remember how the Republicans were willing to screw over the middle class if the upper class didn't get their way? Wasn't that long ago.

Great party that GOP.

tbaker 4 years ago

Since when does a cut in tax "rates" result in people not paying income taxes?

monkeyhawk 4 years ago

Actually, some would say he is accomplishing his real goals.

Flap Doodle 4 years ago

His minions best start airing out the mob-financed Chicago mansion......

grammaddy 4 years ago

This is the Republican plan. Fight him on every effort to get the economy going so it looks like he's not doing anything. They think they can win that way. Aren't we smarter than that? At least some of us?

tbaker 4 years ago

Mr. Obama once referred to the private sector economy as "The Enemy." I see nothing in his policies that indicates any change in that belief.

Scott Morgan 4 years ago

I believe of all the cruel acts, or in this case non acting of this administration, gas prices have hurt the most.

I do believe Liberty is correct, at least on changing our society. This group this administration hates our way of life. Especially the way we use transportation. Elitist, do as I say, not as I do. Good grief, you want to lose a finger get in the way of a cheeseburger and Michelle O.

Out of control fuel bills hit the poor the hardest. They can't afford an electric car, or some 50 MPG vehicle of the day. Many are rural and public transportation to them is something they read about. Where is our Amtrak BTW? These folks worry the old clunker makes it through the week just to go back and forth to work. These folks use trucks in some cases to make ends meet.

It really ticks me off when some limo lib tells us the states which feed the world to take the bus, ride a bike, or in some cases just stay home. We should be like Europe, really?

Obama unpopular, you bet.

llama726 4 years ago

Are you seriously making a fat joke about the First Lady? People wonder why conservatives look like jerks... There you go!

Scott Morgan 4 years ago

Didn't mean it as a fat joke. I meant it as do as I say, not as I do. In keeping with thinking about the poor, have you checked out what it costs to eat Obama Healthy?

She's making a mess out of the school lunch program. Government gets involved and costs go up, and kids hate the selections. All the while snarfing BB@ and all the evil foods.

The new stereotype is hi powered democrats do not live what they preach to we plebeians. Hence Limo Libs.

Need proof........

google hypocrite Michelle Obama

llama726 4 years ago

I don't need proof, because I know a dietitian who eats barbecue, cheeseburgers, etc., but only once in a while. I'm not a baby, so I don't assume that if someone tells me to eat healthier, they themselves must only eat healthy foods all of the time.

gudpoynt 4 years ago

Neither the Democrat-controlled executive and Senate, nor the Republican-controlled House have much control over gas prices.

Kirk Larson 4 years ago

You're right. That would be the Koch Bros., speculators, hedge funds, and other big money interests who control the republicans.

Kontum1972 4 years ago

get out of afghanistan.....NOW!

we dropped the ball there a very, very long time ago....read..."Charlie Wilsons' War"

just_another_bozo_on_this_bus 4 years ago

The economy sucks for everyone except the world's wealthy, who have now recouped all their losses of the crash of 2008.

And while Obama probably won't make things much better between now and the election, one sure way to make things worse for 99% of the world's population is to elect Republicans.

just_another_bozo_on_this_bus 4 years ago

I'm afraid to ask, but do you have a point you're trying to make?

Flap Doodle 4 years ago

"Reality weakens President Obama’s support" Fixed your headline there.

just_another_bozo_on_this_bus 4 years ago

"Just look at Greece for example."

My guess is that you have absolutely no idea what's caused the problems in Greece.

jafs 4 years ago

Then you should be very glad that financial reforms have been passed by this administration, right?

jafs 4 years ago

So you'll blame all of that on the financial reforms, while naming the lack of that as one of the things that led to Greece's troubles?

I suppose our troubles have nothing to do with the things that actually caused our meltdown, namely lack of adequate regulation, greed, and stupidity.

gudpoynt 4 years ago

what a bunch of talking point nonsense.

Free healthcare and pensions? Are you kidding?

Bankrupted the system? Which system?

Don't you ever get tired of sounding completely clueless?

Flap Doodle 4 years ago

The current leader for the run-on sentence of the day contest has been identified.

beatrice 4 years ago

And the deficits Reagan created finance that early growth, and the deficits have kept growing ever since.

beatrice 4 years ago

Indeed. Almost like he is actually putting the wars on the books for a change while trying to pump funds to bolster the economy. Many economists feel that were it not for his actions, we would be in much worse shape. Apparently, you disagree with the economists.

beatrice 4 years ago

Why would I forget (assuming that is what you meant) the bombings in Libya? That is the one the Arab League asked us to become involved in along with NATO.

Seriously, doesn't it bother you that the accounting of the wars in Afghanistan and Iraq weren't counted in the budget as part of the deficit under the previous administration?

beatrice 4 years ago

Stunning. So if Obama did account tricks the way the Bush administration did and didn't count the costs of our current wars toward the deficit, the deficit wouldn't appear as big as it is. I guess you would like Obama more then. Just stunning to admit you prefer smoke and mirrors to honesty. Just stunning.

I was in agreement when Bush sent troops to Afghanistan, not Iraq. One out of two. If Obama sent our soldiers into Libya, I would be against that. Not hypocritical at all.

tbaker 4 years ago

Do not underestimate Mr. Obama. Weak incumbants have been known to beat weaker opponents.

MyName 4 years ago

Another useless prognostication brought to you by a slow news day. Will this poll matter in 12 months? No. Will people's opinion about the economy now matter in 12 months? Maybe, but not as much as you'd think.

It all depends on who wins the GOP nomination and how that compares to the President. Right now, they're running a bunch of weak nominees with no federal experience and no answers. The most qualified one of the pack is Romney and there's a case to be made that he wouldn't have done much, if anything, different from Obama. Their healthcare packages were basically the same. The bailouts were actually started by Bush and I have no doubt Romney would have carried through the same policies.

If Obama gets the troops home from Iraq and Afghanistan, and employment picks up at all in the next 12 months, I don't think the GOP can win. But hey, pretending like there's a horse race when the jockeys haven't even started their walk around the track is typical of how politics gets reported anymore.

gkerr 4 years ago

Democrats will not blame systemic debt, foreign debt uncertainty, oil shock increases, failed stimulus package, cyclic economic downturn as predicted by Kondrotieff historic economic cycle theory, Keynesian excess for past 70 years, systemic government corruption, pervasive dishonesty and greed of business and cultural elites, recurrent damage to initiative, learning, moral imagination from out of control drug abuse for past 50 years.

No, Democrats will blame Republicans as lying misrepresentation is always the last refuge of a losing argument. Watch the MSM, the talking heads, the NYT's, Wash Post, discredited broadcasting media dinosaurs, and Democrat Pols, will blame republicans.

We will see if the sheeples buy it. We will see. Gkerr

beatrice 4 years ago

The major problem with this type of poll of whether or not Obama deserves re-election is that we have no idea who the Republicans will nominate. Yes, it gives the anti-Obama people a chance to throw stones, but it doesn't make note of any potential opponent. Once we know who Obama will go up against, and we start to compare that person's strengths, flaws, and weaknesses against Obama, only then will we have a real idea if a Republican can win. Can Romney actually beat Obama by convincing people his health care plan isn't "Obamney Care"? I don't believe so. Bachmann? Not even close. Gingrich? DOA. Cain or Paul? Double-digit win for Obama. Pawlenty or Santorum? Oh please, America isn't that conservative. The only one who seems to have a chance at this point is Huntsman, and he seems too rational and moderate in some of his views to get the nod from the conservative / tea party types who vote in primaries.

So I see Obama winning re-election whether he deserves it or not. As in the past election, he will likely be the better candidate at that point in time.

Sadly, none of the anti-Obama folks here can honestly believe that the economy would be doing wonderfully had McCain been elected. What exactly has McCain done for Arizona and its economy? Why hasn't he stopped the housing market from crumbling in his state? In my opinion, it is a miracle that we aren't in a worse economic situation given the cards Obama was handed when he came into office ... but of course, some like to pretend none of that matters and that he started from scratch and the entire deficit is his fault. Most Americans, however, know better. I predict Obama will win re-election.

Flap Doodle 4 years ago

By the time the 2012 elections roll around, many members of the current regime may be voting absentee from their cells in Leavenworth.

monkeyhawk 4 years ago

More freaky stuff from the dude:

"Obama releasing 30M barrels from US oil reserves MATTHEW DALY, Associated Press Updated 02:07 p.m., Thursday, June 23, 2011

WASHINGTON (AP) — Wary of a new surge in gas prices, the Obama administration said Thursday it is releasing 30 million barrels of oil from the country's emergency reserve as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya.

The move comes as retail gasoline prices dropped for the 20th consecutive day, down a penny from Wednesday, to $3.61 per gallon, according to AAA, Wright Express and the Oil Price Information Service. That's about 21 cents lower than a month ago.

The timing brought criticism from business groups and Republican lawmakers, who accused President Barack Obama of playing politics with the country's oil reserves, which are intended to address emergencies.

"The Strategic Petroleum Reserve is an emergency lifeline to protect our nation against critical shortages in our oil supply and shouldn't be used as a Strategic Political Reserve to boost the popularity of elected officials," said Charles Drevna, president of the National Petrochemical & Refiners Association.

The administration said the uprising in Libya has resulted in a loss of about 1.5 million barrels of oil a day. The International Energy Agency said roughly 132 million barrels of Libyan light, sweet crude had been removed from the world market as of May." Read more: http://www.mysanantonio.com/news/article/Obama-releasing-30M-barrels-from-US-oil-reserves-1436868.php#ixzz1Q84ZSZ9Y

Maybe someone would like to deplete that supply for some reason. Could it be to force windmills down our throats?

gphawk89 4 years ago

My thought all along has been, "What recovery?"

bevy 4 years ago

Thanks Chalk, for injecting some much-needed humor into this rant-fest.

hujiko 4 years ago

Way to shine your bigoted, stereotyping worldview upon us with that last one.

I will assume that you are implying that because the call center is located in Pakistan, that the local residents who happen to be Muslims are all terrorists. Very interesting.

How then would you feel if I implied that because Scott Roeder murdered George Tiller in premeditated cold blood at his place of worship, that all Christians are murderers? Sound okay to you?

beatrice 4 years ago

Rockchalk, are you planning to provide the source for your material, or are we to assume these are your jokes?

bangaranggerg 4 years ago

I didn't read the article but as a republican I can tell by the headline everything is going exactly according to plan. Muh-ha-ha-ha.

salad 4 years ago

The recession is over for us: if you have an engineering degree, the only reason you don't have a job, is because you don't want one. More work than we can handle, hiring like mad, manditory overtime, turning away jobs.....it turned around in a hurry! As for Obama? Anyone criticizing is ignoring the FACT that we aren't in a repeat of the great depression.....or worse. But hey! if you guys really want that whole...."Great Depression" experience, then just put the neo-cons back in charge, or even better: the TEA-party!!!

salad 4 years ago

Did you have a point snap? BTW, misery index at this point in the Regan administration was a FULL point higher than it is now!!! How could that be possible??? Regan could do no wrong, right??? Just proving that you have no point.

cummingshawk 4 years ago

What slow recovery? With all the property tax increases being considered as perfectly natural by the city commission they apparently haven't heard, or don't want to acknowledge, that the economy is suffering. Maybe the national media needs to come to Lawrence and learn how our town has been recession-proofed and thus is outside of the national trends.

camper 4 years ago

Just to add a few points from comments above. President Obama campaigned on and wished to raise taxes on income above 500k (36% to 39%). I clearly remember the debate with Joe the plumber. Obama was called a Socialist, a re-distributor of wealth for this stance. For the succeding two years, some Republicans argued the sluggish economy was due to this uncertainty, and business was waiting on the sidelines because of this feared tax hike that would have impacted so few.

Obama compromised in the end, and extended the Bush tax cuts so he could get a jobs bill and employer taxes reduced. I did not agree with this, but this is what happened. Now that the rates have been extended, the Republican theory seems false. Unfortunately, it is now up to the Republican house majority to come up with some type of jobs bill. But nothing is happening. They are still in the oppose Obama mode.

If the Republicans hold the house and President Obama wins, I'm afraid the economy will stay where it is + or - a few points. If the Democrats win both houses and the presidency there is the best chance of a slow rebound. If the Republicans win big there will also be a chance for rebound merely because something can get done and there will be less gridlock. But this is a minimal chance because I do not believe they have good candidates and frankly, I do not believe much in their policies.

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