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Americans Have ‘Buyer’s Remorse’ About Obama: Card

President Barack Obama’s four years in office have been a disappointment, Andrew Card, former Bush administration chief of staff, told CNBC’s“Squawk on the Street” on Tuesday.

A supporter holds a photo Republican presidential candidate and former Massachusetts Governor Mitt Romney (L) and his running mate Rep. Paul Ryan (R-WI) during a campaign rally at the Waukesha County Expo Center on August 12, 2012 in Waukesha, Wisconsin.
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A supporter holds a photo Republican presidential candidate and former Massachusetts Governor Mitt Romney (L) and his running mate Rep. Paul Ryan (R-WI) during a campaign rally at the Waukesha County Expo Center on August 12, 2012 in Waukesha, Wisconsin.

“I think there’s a lot of buyer’s remorse in America,” Card said ahead of the Democratic convention. “People had a lot of high hopes but (President Obama) just didn’t deliver.”

He added, “The optimism that we had hoped President Obama would bring to office, he’s just disappointed and I’m fearful for the future.”

While acknowledging the damage the credit crunch had on the global economy in 2008, Card said the policies of President Obama are not working the way he said they would. (Read More:Obama Poised to Lay Out His Vision.)

“The vast majority of the middle class is worse off today than they were when Barack Obama took office,” Card said. Unemployment (learn more) remains stubbornly higher, people are underemployed or have given up and dropped out of the workforce, Card noted.

“The policies President Obama has put into place have not accelerated that climb out of recession,” Card said. “They’ve delayed the climb.”

Addressing the criticism that the Republican convention was short on specific economy policy recommendations, Card said, “Paul Ryan has probably given the most specific roadmap for sanity that any political leader has given over the last two years.” (Read More:Paul Ryan’s Warning: ‘We Don’t Have Much Time.’)

Card added, “I don’t agree with everything he’s suggested, but he has a roadmap.”

Turning to the Democratic convention, Card said, “President Obama is quick to take credit and praise. He’s very slow to accept responsibility and almost never takes the blame. I think that’s going to be the cadence of the Democratic convention.”

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