Green Shoots And Political Ham

The news this morning is not good for Barack Obama and the Democrats. The latest public opinion polls show the Presidents approval rating falling fast.

USA Today reports that Obama's approval from the voting public is now below Jimmy Carters after six months in office. In addition, Rasmussen is reporting that the President has an approval rating of under 50% from likely voters for the first time.

The hope for this administration is that the economy improves quickly in the next several months. As long as the economy continues to stall and jobs disappear, political trouble for the President and his party will increase.

A compliant media continues to report on the early signs of an economic recovery. Indeed an improvement in the rate of weekly job loss and a three month recovery in existing home sales could be the first 'green shoots" that herald this recessions end.

However, the problem for the Democrats and the President is the nature of the potential recovery. A sluggish recovery without much growth will not put people back to work. As a result, the huge current budget deficit will only get worse since government spending remains unrestrained and the administration has assumed a rosy economic growth forecast for the next several years.

After six months in office and spending more than 700 billion in economic stimulus, the President owns the direction of this economy as well as the result of the pork laden stimulus package that can be seen each day on the government’s stimulus website.

In fact, stimulus contracts posted on the site suggest the administration has spent $1.19 million on two pounds of ham, $1.56 million for mozzarella cheese and $16.8 million on canned pork, among other things. Of course this political ham like much of the stimulus package does not do anything to create job growth or jump start the economy.

2010 is a Congressional election year. Historically, mid term elections are never kind to the party in power. Look for a Presidency in real political trouble and many desparate Democrats in the months ahead if the United States economy does not dramatically improve from here.

http://www.eworldvu.com