Site for Free Markets and Free People

Saturday, June 11, 2011

Obama's Sinking Ship

Obama's approval ratings have taken a plunge the past few days. How quickly people have forgotten about Osama Bin Laden. It's now all about the economy, and with the stock market down 6% over the past few weeks, and the jobs recovery still nowhere to be seen, people are taking notice. Obamanomics is not fun. It doesn't work. And while the president talks about sacrifice and hard times, he seems to be having a great time, galavanting around the world, toasting to queens, partying in Rio, declaring, war, and playing golf every weekend he can. People notice this stuff.

I for one think he's in real trouble. Just look at the numbers. He started his tenure with a +30 approval rating. Today he's at -16. During that time the stock market was up close to 100% off its low in March 2009. Now it's off 6% in the past month and the shine is off. To me, it's pretty amazing that a man could have lost 46 approval points during a period of such a huge stock market rise. But he has. He won the national vote in 2008 by 53% to 47%. Does anyone believe that the 46 point hit to his approval numbers is not worth at least 3%? I'd say it's worth about 10%.

The Republicans still need to field a candidate of course, and most are dismayed at the choices. But is anyone less dismayed than the prospect of having another 4 years of ridiculousness? I think not. Obama better be hoping for a third party candidate and fast. I believe that even a 3rd party candidate might not be able to save him.