Obama Struggling To Find Footing On Economy
Once a master at controlling his message, Pres. Obama is trying to regain his footing on the most important issue of this -- and perhaps next -- election: The economy.
Several leading analysts believe the economy is continuing its downward spiral, hampering Dem hopes of maintaining their House and Senate majorities this fall. And the WH has also been focused on other issues -- from the mosque comments to Obama's speech on Iraq Tuesday night.
"If the economic trend line looks the same as it does now," said veteran Dem strategist Roy Temple, "it's an enormous political problem."
Increasingly, there is evidence that the economy is doing worse than anticipated. Fed Chairman Ben Bernanke indicated on Friday that the economy is not recovering as quickly as he would like. And on Sunday, the New York Times reported that the economy is not recovering and may not for quite some time. The Times also noted that policy remedies are a non-starter right now because spending more government funds would open up Dems to political attacks.
The economy, and Obama's lack of a laser-like focus on the issue, has given some Dems in competitive districts cause for concern. "The economy is the biggest issue for voters and for most candidates," said Maura Dougherty, a Dem consultant who represents a significant number of clients facing tough re-elections. "To have the White House talking about something else is not helpful."
Obama and the WH tried to get back on message Monday. In remarks from the Rose Garden, Obama said "it took nearly a decade to dig the hole that we're in" and it will "take longer than any of us would like to climb our way out."
"The fact is that too many businesses are still struggling," Obama added. "Too many Americans are still looking for work and too many communities are far from being whole again."
Obama also turned the blame back to Republicans for blocking a jobs bill currently under consideration in the Senate. "This bill has been languishing in the Senate for months," Obama said. "There is no reason to block it besides pure partisan politics."
The White House is also pointed to statistics that the economy has created private sector jobs for 7 months in a row, totaling 600K jobs. The admin is also pushing for extending the Bush tax cuts for the middle class.
But the deteriorating economy is giving Republicans plenty of political ammunition. Already a new catchphrase is cropping up about the economy: A lost decade. Rep. Paul Ryan (R-WI), a GOP leader on economic issues, used the phrase on Monday. Ryan also said Dem policies are reminiscent of the Japanese policies of the '90s.
"We are basically replicating the kinds of economics the Japanese did in the 1990s," Ryan said. "We are buying ourselves a lost decade"
Among Dems, concern is beginning to grow that the economy is not recovering as quickly as needed and some -- privately -- don't think the White House has a full grasp on the severity of the situation. "They got themselves handcuffed from day 1 by compromising on the stimulus," said one senior Dem strategist. "In an outsider, populist election, it would've been in much better strength if they had fought tooth and nail for economic help that they could've then contrasted with Republicans."
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BUSH'S FUALT-JUST "BECUASE". I love it Housing sales at the lowest since the early 1990's, car sales declined to the lowest point in recent memory, 13 trillon in debit, Iran has gone NUKE, we have lost 2.6 million jobs since Oboma took over, the Fed's refuse to do ANYTHING about the immigration problem-now a Mosque at ground zero-YEA, I am over all this "hope and change" insanity
Didn't we just have a lost decade? That was called the years from 2000 to 2010.
The type of transformation that the White House seeks is one where concerns about economic justice will trump economic development. This is clear. I don't think that President Obama is off-message. I just think that what he is doing will have the natural result we are observing.
"Mixed message" to say the least.
In the article "Do Real Economist Cry When Bernanke Speaks?" they point to a partial conclusion that "the administration’s economic options are trapped in the electoral spin of their own making".
And that is the key to understanding the sublimely bad economic policy of the Obama administration. They call it partial because it is a complicated tale but one they attacked comprehensively.
The best I found so far in the conundrum Obama finds himself today. We must understand it if we are to solve the impasse where we find ourselves.
Read all at http://www.robbingamerica.com
Just look at the disaster the liberals have made of the north eastern part of the country. Now Obama and the progressives are doing the same thing to the rest of the country.
Government needs to do everything in it's power to encourage businesses to be successful. That is how you spur economic growth.
Obama and the progressives have done just the opposite. They think and act like socialist fascists giving the government control of the economy with huge taxes and regulation to support their ideology. It is no wonder that businesses don't want to invest.
New item on Bernanke Conundrum being O-man's problem related to housing sector, lack of refinancing activity to date:
http://tinyurl.com/38kjawz