Monday, October 6, 2008

Economic Plan Costing Obama Support

Where Obama started out with approval ratings of 67%, support for him has fallen to around 62% in only a few weeks time. Although this is still a rating to be proud of, it’s significantly lower than the support both presidents Bill Clinton and Ronald Reagan received when they retired (both had approval ratings of 68%).

The main reason for the drop in support is the Democratic economic stimulus plan. This plan will cost the American taxpayer betwen $800 and $900 billion. Americans are always critical when their government plans to spend massively, but their criticism isn’t unfounded this time around. The Congressional Budget Office said Wednesday, for instance, that the plan does little to stimulate the economy in the short term and will have a negative impact in the middle to long term.

Many parts of the plan have no economic impact whatsoever. Democrats want to spend hundreds of millions of dollars on anticonceptives, for instance. When critical journalists and politicians asked Nancy Pelosi about this pork, she answered that not having children stimulates the economy. How this well thought out economic theory works isn’t clear, nor whether this means we should stop having kids altogether. What is clear, however, is that we can safely add these remarks to the growing list of “funny remarks made by Nancy Pelosi.”

Concluding: the plan is so impopular (only 37% support it while 50% believe it will hurt rather than help the economy) that Congressional Democrats and even Obama himself have to proceed very carefully. Obama has to either adjust it or simply throw it in the trash bin and create a new plan, this time with Republican input. He’s still quite popular himself, but he’ll have to explain to Congressional Democrats that Americans want a pragmatic and effective, not an ideological government. If he wants to work with a democratically-controlled Congress two and four years from now, that is.








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