Are Obama's big spending, borrowing, tarping and government owning policies losing voter support?
Sr. Writer, U.S. News & World Report (Money & Business)
Both the new Wall Street Journal and New York Times polls show growing concern about the direction of economic policy, particularly as it relates to government spending and the deficit. The Obama honeymoon is over. Likewise, "Blame Bush" is rapidly approaching its expiration date. More evidence comes in the difficulty Obama is having passing healthcare reform and climate change legislation, and the watered-down versions of executive pay reform and financial regulatory reform. High unemployment will continue to drain his reservoir of goodwill with voters. The White House underestimated the severity of the recession and the effectiveness of its stimulus plan and will begin to pay the political price.
Former Labor Secretary
Professor of Public Policy, UC Berkeley
Most voters support Obama’s efforts to revive the economy through a temporary stimulus, provide affordable healthcare for all, protect homeowners from foreclosure, and get capital markets to work again so average people can get credit. TARP isn’t popular, to be sure, but it originated under George W. Bush.
CEO, Patriarch Partners
The government has lent, spent, guaranteed and committed $12.8 trillion to resuscitate failing banks and a token few chosen “too big to fail” corporations. However, in the process they have left an entire population behind who remain victims to rising unemployment, increased foreclosures and higher gas prices caused by a weakening dollar. Such magnitude of funds and its unavoidable consequences targeted to save so few has and will continue to anger many whose suffering has not diminished.