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Old 03-12-2009, 06:49 PM
 
Location: New Jersey
8,489 posts, read 12,450,879 times
Reputation: 8064

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Obama Economy
1
Economists Give Obama Low Marks
(March 12) – President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the world’s largest economy, according to participants in the latest Wall Street Journal forecasting survey.

A majority of the 49 economists polled said they were dissatisfied with the
administration’s economic policies, according to the paper, a stark contrast to
Obama’s popularity ratings with the general public. On average, the economists gave the president a grade of 59 out of 100, and although there was a broad range of marks, 42 percent of respondents rated Obama below 60, the paper said.

Geithner received an average grade of 51, while Federal Reserve Chairman Ben
Bernanke scored better, with an average 71, the paper said. On average, the economists now expect the economic downturn to end in October, according to the paper. In the previous survey, they had expected the bottom
would arrive in August. The economists’ main criticism of the Obama team centered on delays in enacting key parts of plans to rescue banks, the paper said.

The economists’ negative ratings mark a turnaround in opinion, the paper said. In December, before Obama took office, three-quarters of respondents said the incoming administration’s economic team was better than the departing team under former President George W. Bush. Geithner’s latest marks are lower than the average grade of 57 that former Treasury
Secretary Henry Paulson received in January, the paper said.

“We have taken an unprecedented level of action toward economic recovery,
accomplishing in weeks what took other countries years to do,” the paper cited Treasury spokesman Isaac Baker as saying.

“While Wall Street and investors were disappointed when they didn’t get a
sweeping bank bailout, we’ve laid out a plan to stabilize the financial system while protecting the taxpayer and ensuring government funds are spent wisely,” baker said, according to the paper. “This crisis was years in the making, and it will take time to solve.” Reporting by Ajay Kamalakaran in
Bangalore; Editing by Kim Coghill
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Old 03-12-2009, 07:56 PM
 
69,372 posts, read 55,478,021 times
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I dont put any credit in such polls with "49" individuals because the figures would be to easily manipulated. While I have no confidence in Obama, I do have confindence in his ability to learn as he goes and the free markets natural economic cycles.
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Old 03-12-2009, 07:59 PM
 
1,992 posts, read 3,733,865 times
Reputation: 608
The way that I read it, they are not unhappy with his plans as much as they are with the speed in which he is instituting the plans. President Obama faced some obstruction in his ability to speedily initiate action.
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Old 03-13-2009, 03:53 PM
 
5,697 posts, read 5,455,180 times
Reputation: 1937
like today he says it is not as bad as we thought......
good grief
he is a flake
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Old 03-13-2009, 08:22 PM
 
Location: Sunny Phoenix Arizona...wishing for a beach.
4,299 posts, read 13,639,854 times
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Quote:
Originally Posted by pghquest View Post
I dont put any credit in such polls with "49" individuals because the figures would be to easily manipulated. While I have no confidence in Obama, I do have confindence in his ability to learn as he goes and the free markets natural economic cycles.
What happened to the pay as we go? I hope we have some free markets left by the time he gets out of office.
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Old 03-15-2009, 04:25 PM
 
Location: a nation with hope
13,153 posts, read 17,414,140 times
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Default Experts call for Obama to Focus

As the Economy Worsens, Experts Call for Obama to Focus on the Fundamentals

By William Patalon III
Executive Editor
Money Morning/The Money Map Report

In sports, championship-caliber teams all have at least one characteristic in common: They’re able to focus on the fundamentals. With the U.S. unemployment rate jumping to its highest level in a quarter century in February, it’s become abundantly clear that that the U.S. recession is much deeper than President Barack Obama anticipated, meaning it’s likely that additional measures will be undertaken to arrest the slide and restart growth.

Many experts are now calling for the Obama administration to focus on the fundamentals – fundamental economics, that is. They want him to drop some of its ancillary pet projects – such as healthcare reform – and are telling President Obama to focus all his time and the government’s resources on three things:

Arresting the economy’s slide.
Hastening its subsequent rebound.
And fixing the U.S. banking system.

A focus on anything else is just a diversion and is a waste of time – especially because there are questions about just how bad the economy actually is, says John Ryding, chief economist for RDQ Economics LLC in New York. RDQ Economics | John Ryding | Conrad DeQuadros

As if that weren’t bad enough, consider this: Unemployment has already reached the average rate the White House had projected for the entire year, Bloomberg News reported
Surging U.S. Unemployment Rate Puts Pressure on Obama (Update2) - Bloomberg.com
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Old 03-15-2009, 04:45 PM
 
Location: San Salvador, El Salvador
567 posts, read 1,345,170 times
Reputation: 265
Still better than Bush
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Old 03-15-2009, 05:03 PM
 
Location: Charleston, WV
3,105 posts, read 6,636,458 times
Reputation: 835
Quote:
Originally Posted by pghquest View Post
I dont put any credit in such polls with "49" individuals because the figures would be to easily manipulated. While I have no confidence in Obama, I do have confindence in his ability to learn as he goes and the free markets natural economic cycles.
Not saying I disagree with you but then have to stop and think:
Which poll results would be more reliable about the economy and in which more credence should be given....
A poll of 49 experts
or
A poll of a thousand citizens of whom probably half have done nothing to become familiar with the economic issues
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Old 03-15-2009, 05:05 PM
 
Location: New Jersey
8,489 posts, read 12,450,879 times
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Quote:
Originally Posted by mental_complex View Post
Still better than Bush
Time will tell
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Old 03-16-2009, 05:44 AM
 
Location: a nation with hope
13,153 posts, read 17,414,140 times
Reputation: 5026
Quote:
Originally Posted by georgia dem View Post
like today he says it is not as bad as we thought......
good grief
he is a flake
Then, they talk about the need for another omnibus bill.
And now the latest from him is that the economy is recovering.
All that within the space of about a week.

Well, which is it??!!

They either don't know what they're doing, or they're intentionally misleading
(called "lying").

I don't believe a word of it. They're trying to build confidence in the consumer so that people will go out and spend what little they have left after mortgage and unemployment problems. That's a new definition of "fiscal responsibiity".
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