President Obama's Approval Rating On The Economy Is Down

[Conan71]

The haters and bigots are at it again:

WASHINGTON – President Barack Obama earned his lowest marks ever on his handling of the economy in a new Associated Press-GfK poll, which also found that an overwhelming majority of Americans now describe the nation's financial outlook as poor.

A frustrated electorate could take it out on the party in power — Obama's Democrats — in the November elections.

Eleven weeks before the Nov. 2 balloting, just 41 percent of those surveyed approve of the president's performance on the economy, down from 44 percent in April, while 56 percent disapprove. And 61 percent say the economy has gotten worse or stayed the same on Obama's watch.

Still, three-quarters also say it's unrealistic to expect noticeable economic improvements in the first 18 months of the president's term. And Obama's overall approval rating was unaffected; it remained at 49 percent, in part because most Americans still like him personally.

Americans' dim view of the economy grew even more pessimistic this summer as the nation's unemployment rate stubbornly hovered near 10 percent. That's been a drag on both Obama and Democrats, who control Congress.

http://news.yahoo.com/s/ap/20100818/ap_on_bi_ge/us_ap_poll_obama_economy

What's fair is fair.  I like that most Americans think 18 months isn't enough time to expect improvements.  I'd like to see  how it looks with the same time frame the tide started to turn for President Reagan.  That's still painful waiting though for someone not working and with no hopes of finding a job.

[Gaspar]

You're $hittin me!  Down?

[guido911]

President Barack Obama said Tuesday that he has "never been more confident that our nation is headed in the right direction."

http://www.myfoxdc.com/dpps/news/obama-confident-us-headed-in-%27right-direction%27-dpgonc-km-20100817_9224354

[Cats Cats Cats]

I'd like to see  how it looks with the same time frame the tide started to turn for President Reagan.

You obviously fail to recognize the depth of the financial shock compared to the 80s.

[Conan71]

You obviously fail to recognize the depth of the financial shock compared to the 80s.

Not hardly. I think two years would be fair. How long do you think is fair? There has to be a point you admit failure and try something else 

[Gaspar]

Not hardly. I think two years would be fair. How long do you think is fair? There has to be a point you admit failure and try something else 

I think you have to recognize failure first.  That's the big divide. 

This administration has successfully:

• Grown government in size and income for government employees
• Passed 20 years worth of special programs unable to pass under previous administrations
• Created hundreds of new bureaucracies and funding initiatives to be paid for by our children
• Taken control of 1/6th of the US economy with healthcare legislation
• Attacked the evil rich with threats and actions designed to limit wealth creation "Hey, at some point you've earned enough."
• Punished evil corporations
• Nationalized a large percentage of the domestic auto industry

Many of the above points are viewed as failure by conservatives but victory by progressives & liberals.

The only failures we can both agree on is:

• Increased unemployment
• GITMO Still open
• Weak foreign policy
• Poor disaster response
• Low-priority economic response

[rwarn17588]

Not hardly. I think two years would be fair. How long do you think is fair? There has to be a point you admit failure and try something else 

Reagan began office in 1981 with a jobless rate of 7.5 percent. It hit 10.8 percent in late 1982. The jobless rate didn't get back to his pre-office levels until June 1984. It took 3 1/2 years.

[Cats Cats Cats]

Not hardly. I think two years would be fair. How long do you think is fair? There has to be a point you admit failure and try something else. 

Businesses aren't doing that poorly.

Honda
Record Quarter Profit
http://www.marketwatch.com/story/honda-posts-record-profit-raises-forecast-2010-07-30

John "We are going to lose millions and zillions because of the health care reform" Deere
Record Quarter Profit
http://wcfcourier.com/business/local/article_ff09324e-aac2-11df-822b-001cc4c03286.html

Intel 2Q
Record Profit
http://www.brightsideofnews.com/news/2010/8/18/intel-bullish-on-3q-sales-sandy-bridge-in-4q-2010.aspx

Just companies aren't hiring.

I would like to see a chart of the DOW and the amount of profit they made in the first 3 quarters of 2010 vs the first 3 quarters of 2009... Or maybe just Q1 2008 vs Q1 2009 vs Q1 2010 to see what is really happening.

[nathanm]

Obama can't make the Fed do their job. Until they do, we're going to be stuck in a rut. This will be the new normal. We are Japan at the moment. The Bank of Japan's legendary unwillingness to do anything about their problems has kept them in the same underemployment rut for over a decade now.

[guido911]

I think you have to recognize failure first.  That's the big divide. 

This administration has successfully:

• Grown government in size and income for government employees
• Passed 20 years worth of special programs unable to pass under previous administrations
• Created hundreds of new bureaucracies and funding initiatives to be paid for by our children
• Taken control of 1/6th of the US economy with healthcare legislation
• Attacked the evil rich with threats and actions designed to limit wealth creation "Hey, at some point you've earned enough."
• Punished evil corporations
• Nationalized a large percentage of the domestic auto industry

Many of the above points are viewed as failure by conservatives but victory by progressives & liberals.

The only failures we can both agree on is:

• Increased unemployment
• GITMO Still open
• Weak foreign policy
• Poor disaster response
• Low-priority economic response

Obama is making friends, influencing people out in L.A.

No matter their politics, Los Angeles residents found themselves united. "It was a beautiful thing," said Brentwood resident Myles Berkowitz, commiserating with his neighbors on Montana Avenue. "Young, old, black, white — everyone was pissed off."

http://www.latimes.com/news/local/la-me-0818-obama-traffic-20100818,0,7604411.story

O/T:

To Trog's point:

The Dow ended the second quarter down 1,082.61 points, or 10%, at 9774.02, its first quarterly drop since the first three months of 2009.

http://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748704334604575339242598727752.html

On the upside, though, I think things are getting better, if recent events are an indication, with the market. Jobs...not so much.

[Gaspar]

Things are getting better.  People of every political persuasion are beginning to realize that things need to change.

I think November will mark "The Season of Change"

Not change we can believe in, but change we rely on.

We will exchange hope for opportunity.

YES WE CAN!

I feel faint.

[Cats Cats Cats]

To Trog's point:

http://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748704334604575339242598727752.html

On the upside, though, I think things are getting better, if recent events are an indication, with the market. Jobs...not so much.

The problem is that the DJIA is hardly based on "reality" and has tons of external issues to stock prices.  $ Profit vs Loss are "hard numbers" which may or may not be reflected in the stock price depending on who is buying, who is selling, short sales, etc etc.  I want to know the "profit" of the companies the 2nd quarter, not their stock price.

[guido911]

The problem is that the DJIA is hardly based on "reality" and has tons of external issues to stock prices.  $ Profit vs Loss are "hard numbers" which may or may not be reflected in the stock price depending on who is buying, who is selling, short sales, etc etc.  I want to know the "profit" of the companies the 2nd quarter, not their stock price.

Well I looked at my portfolio over 2Q and got smacked in the face with some real "reality".

[Cats Cats Cats]

Well I looked at my portfolio over 2Q and got smacked in the face with some real "reality".

Yeah, well from the time Bush took office to when he left the DJIA was -24%.  Obama is still up about 20-25% I believe.  You should have bought a lot of Ford stock.

[guido911]

Yeah, well from the time Bush took office to when he left the DJIA was -24%.  Obama is still up about 20-25% I believe.  You should have bought a lot of Ford stock.

I've sent Obama a huge "thank you" card because it was obviously he and he alone that has turned around the market. Seriously, I do think the market condition has improved, but I cannot see how companies are going to be hiring any time soon.