Don’t forget….

…..you heard ‘landslide’ here first. [Or at least early!]

obama Deep underwater Where It Counts.

Economy: 36 percent approve; 60 percent disapprove
Creating jobs: 37 percent approve; 58 percent disapprove
The budget: 30 percent approve; 64 percent disapprove

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3 Responses to Don’t forget….

  1. Ligneus says:

    And don’t forget obama’s great success in saving the US auto industry.

    On the campaign trail, Barack Obama’s signature definition of “success” is the government bailout of General Motors. “I said I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he told an audience in Pueblo, CO last week. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.” That pronouncement should send a shiver up the spine of every American, due to an inconvenient reality: according to Forbes Magazine, GM is likely headed for bankruptcy all over again.
    The numbers are stark. The 500,000 shares of GM stock, comprising 26 percent of the company owned by the government–or more accurately the American taxpayer–sold for $20.21 on Tuesday. This left the government holding $10.1 billion worth of stock representing an unrealized loss of $16.4 billion. Even worse, in order to reach the break-even point, the stock would have to sell for around $53 per share

  2. Ligneus says:

    More on the GM debacle.

  3. Terry says:

    Re: GM.
    There aren’t many ways that politicians can “create or save” net jobs. Job creation by the state involves increasing economic efficiency, or “increasing the size of the pie”. Building a bridge over a river that divides a coal producing region and an iron ore producing region, for example. Jobs can be saved temporarily by borrowing money and subsidizing jobs, but, if the slowdown that would have resulted in layoffs is permanent, the jobs go away eventually anyhow or the subsidies go on forever. Then the government can’t afford to build our hypothetical bridge to connect coal producers with the steel foundries.
    Most of what politicians have done when they claim to have created or saved jobs is they moved them around. Town A is booming and town B is failing, so you tax town A and use the proceeds to subsidize work at town B. Jobs “created” by defense spending are created this way. Building a billion dollar nuclear submarine creates jobs in Connecticut by reducing economic growth that would create jobs elsewhere.
    There are good reasons why it is okay to “create” jobs this way, at least sometimes. That is politics.
    But if you are claiming an economic success, rather than a political success, you have to measure your accomplishment economically.
    No doubt the bailout was good for the economy of the UAW members and GM stockholders, but what about the economic impact of the loss of that 25 billion dollars on the rest of the economy? Bridges could have been built, new airports constructed, deserving students could have been sent to college, etc.
    I hope Obama isn’t thinking that because the money was borrowed for nearly 0%, he can keep this up forever. Heck, my personal economy would do very well if I could borrow endless amounts of cash at 0% and never have to pay back the principle.
    I hope that is not his plan.

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