This Bloomberg poll has both sides of President Obama’s approval split on the economy at record lows/highs — 33/62 to be precise. But the really damning numbers are about the president’s new jobs bill:
By a margin of 51 percent to 40 percent, Americans doubt the package of tax cuts and spending proposals intended to jumpstart job creation that Obama submitted to Congress this week will bring down the 9.1 percent jobless rate. That sentiment undermines one of the core arguments the president is making on the job act’s behalf in a nationwide campaign to build public support.
Compounding Obama’s challenge is that 56 percent of independents, whom the president won in 2008 and will need to win in 2012, are skeptical it will work.
“I think the jobs bill is a good start, but it’s hard to look at it real positively in light of what’s just happened with the budget,” said Jason Dumas, a 40 year-old independent voter from Charlotte, North Carolina. “The partisanship is still there and it seems like we’re gearing up more for the election.”
In all of the categories gauging Obama’s performance on economic issues, the president’s disapproval rating among independents is above 50 percent.
Keynesian economics has its “liquidity trap”, that dread point where monetary tools are no longer able to stimulate the economy and monetary policy comes to resemble “pushing on a string.” The president is surely experiencing the rhetorical version of the liquidity trap, only it’s even worse. Not only is he unable to move public confidence in the economy with a speech, but he’s actually moving it in the wrong direction.
If the public in general doesn't think the jobs bill will perform as advertised, doesn't that make it less risky for Republicans to oppose it? If, as has been somewhat cynically observed, this proposal was put forth primarily to provide campaign fodder when the Republicans shot it down, does that make it a (another?) political miscalculation on the part of the president and his advisors?
Reply to this commentLinkReport AbuseFurther proof that the common man is brighter than Massive Genius!
Reply to this commentLinkReport AbuseNot only is he unable to move public confidence in the economy with a speech, but he’s actually moving it in the wrong direction.
Back when he was running for president, I wondered what would happen when people got tired of listening to the A-side of his hit record. In pop music, this is always the question. The ones that get a second CD are the ones that have a first CD with good songs that maybe don't get big play time in addition to the one or two chart toppers.
Obama is looking a lot like a one hit wonder. His Mussolini speeches were huge hits with a lot of voters. They could listen to them over and over all day. Now, they have tired of the tune. Obama does not have anything else on the CD to keep them happy whilst he works on the next CD.
Reply to this commentLinkReport AbuseWhy are the numbers as "good" as they are for Obama? Only 51% doubt BHO's job bill? Seriously?
Reply to this commentLinkReport AbuseThe answer to a tanking president is to run a clearly-contrasting candidate, as we did in 1980.
Now that leftism has been utterly discredited once more, we need a CONSERVATIVE GOP candidate. Running a RINO is the only way we lose on Election Day.
Reply to this commentLinkReport AbuseSomeone should tell Obama that everyone is wearing tuxedos and he's selling brown shoes.
Reply to this commentLinkReport AbuseSounds racist to me... Bwa-hahaha
Reply to this commentLinkReport AbuseObama ALWAYS moves the needle the wrong way. Obamacare? The more he spoke, the worse the polls got. The Stimulus? Created the Tea Party. Elections 2009/2010? Obama's endorsement meant you lost!
Why should we be surprised that the public heard what Obama had to say, and responded negatively?
Reply to this commentLinkReport AbuseSo, when and on what issue will the GOP cave next to this impotent politician?
That's the REAL question, because, the more unpopular the man gets, the more willing to negotiate with him the GOP has become.
Reply to this commentLinkReport AbuseIf we do not vote for the Jobs Bill then what is better? It is so easy to point fingers at those trying, getting up and trying again; however, the republicans are not doing anything. They do not have any suggestions, they do not answer questions I mean who do they represent? They do not represent Main stream America. I am not fond of Mr. Obama's tactics of doing things, but I must admit i've only seen 4 presidents in my time, but he is the first to try and conquer the issues he said he would conquer during his campaign. You may not agree with everything he says or do, but You have to respect a person who does what her or she say they will do. He said he would go after Healthcare and he did, he has tried to help the housing market and has because I myself have benefited from the Hardest Hit Program. I am one who was unemployed in 10/09 before Mr. Obama took office, and I did not find employment until 3/1/11, but because of the extention of unemployment and the Hardest Hit Program I was able to remain in my house. So, I know and see what he is trying to do. I do know that if the Jobs bill is not passed it will affect all Americans. We need this economy to move and move now!!!! It is sad to hate so much that you do not care about America's Destiny.
Reply to this commentLinkReport AbuseJUST VOTE FOR THE BILL, GOT ANYTHING BETTER TO MOVE THIS ECONOMY
Reply to this commentLinkReport AbuseYes. I have something better -- not voting for the bill.
Why is it some people think that doing ANYTHING is always better than nothing? There is no logic in that.
Besides, we already tried this and it didn't work. The Japanese tried it even more during their "Lost Decade" and now they are into their 3rd lost decade and only a mountain of debt and bridges to nowhere to show for it.
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