By Mr. Curmudgeon
A lead story in this morning’s Washington Post must have sent the White House into a panic: “The public opinion boost President Obama received after the killing of Osama bin Laden has dissipated, and Americans’ disapproval of how he is handling the nation’s economy and the deficit has reached new highs, according to a new Washington Post-ABC News poll.”
The survey found that Americans disapprove of “hope and change” by a margin of 2 to 1, with 9 out of 10 rating the economy “in negative terms.” And “six in 10 say the economy has not started to recover, regardless of what official statistics may say…”
That last tidbit is most telling. Americans no longer believe the distorted data coming from the Obama regime. Economists within the financial community have used this data to tell investors that America exited the “Great Recession” back in 2009. But last Friday, the economic news showed home prices continue to fall and that job creation is nowhere near the level needed to sustain America’s post-industrial, consumer-driven economy. In short, unsustainable government spending and the Federal Reserve’s quantitative easing have distorted data to fit the Obama administration’s political narrative rather than economic reality.
Austan Goolsbee, Obama’s chairman of the Council of Economic Advisers, spent last Friday desperately spinning the bad economic news as a mere “bump in the road; thrown under the bus by Obama’s economic policies, America’s unemployed are that bump. The White House announced that Goolsbee will resign and return to his tenured teaching position at the University of Chicago. Spinning bad news for a living took a lot out of the guy.
Obama’s killing of the economy is weighing more heavily on the minds of Americans than his killing of bin Laden. And like bin Laden, Obama has wrapped America’s economic future in a burial shroud and dumped it into a deep sea of debt.