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Obamanomics And Confidence

Updated on August 15, 2011

Once Upon A Time!

Some of this is getting to be like a fairy tale, only with nightmarish implications. The majority of the American people know that the federal government can't keep just printing money to spend more money in an attempt to get this nation out of debt and turn the economic corner. In fact, doing that achieves just the opposite effect as the recent down grades and negative watches issued by the world credit ratings agencies should indicate to anyone with even a lick of common sense. Common sense does seems to be in short supply in certain unnamed circles.

Thomson Reuters and the University of Michigan just released their latest poll concerning consumer confidence. That means the average American like you, you and also you, not to exclude me. So lets look at the numbers and findings and see just how confident the American public is about Obama and this administration's economic policies, or might I say the lack thereof. He has no plan. He shows no plan and he speaks no plan, just empty rhetoric designed to promote class warfare that the average American is decidedly sick and tired of too. Turn the teleprompter off and grab some duct tape Obama.

So Who Is To Blame?

In July of this year the consumer confidence index was sitting at 63.7 and economists expected a slight drop to 63.0. Wham! The poll shows that they got hit with a ton of bricks. The number plummeted to a low not seen since 1980. Remember who was the President in 1980? Yes, the peanut man. Remember what happened the next Presidential election? He was dumped in one of the biggest landslide elections this nation has ever seen. It seems, and rightfully so, that the people of this country correlate a bad economy with the office of the POTUS. The most recent consumer confidence index was sitting at a paltry 54.9. That's a drop of 8.8 in a very short amount of time.

The blame is being placed upon the way the federal government handled the debt crisis and raising the debt ceiling without making the necessary spending cuts to go along with it. Other polls seem to indicate that the American people also recognize that all the excessive spending needs to be curtailed and our fiscal house put in order. That involves making painful decisions and the current crop of lawmakers aren't willing to face that music. After all, they are worried about getting reelected and keeping their special interests happy. There will be pain, and pain across the board, involved to right the fiscal ship of state and people are losing confidence that the Obama administration has what it takes to slay the dragon.

Ricahrd Curtin of Reuters, who directed the survey, had this to say about the results, “Never before in the history of the surveys have so many consumers spontaneously mentioned negative aspects of the government’s role.” Speaks volumes to most of us who aren't inhabitants of LaLaLand where life is beautiful all the time.

Along with the consumer index taking the slide to hell, consumer expectations also reached the same Jimmie Carter low of 1980. Obama is making Jimmie Carter look like a genius. The survey also revealed that the Obama administration received the lowest rating of any other President since this rating has begun. People expressed a 61% dissatisfaction with the way Obama is handling things, or not handling things whichever the case may be.

The dissatisfaction was shown throughout the survey on consumer confidence. We aren't seeing any improvement that we can measure and don't foresee any improvement any time soon. It was also evident that those surveyed lacked any confidence in Obama's economic policies (what are they BTW?). The majority of respondents are worried and concerned about the course this nation is on. Other polls back that up.

Probably the best thing that could happen in this nation's history is displayed in the graphic below. The stock market would probably go through the roof and wild, ecstatic dancing would occur in the streets throughout this nation. It isn't likely to happen though so I reckon we'll just have to tough it out like we did with the Carter administration.

Adios Obama!


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    • Harvey Stelman profile image

      Harvey Stelman 6 years ago from Illinois

      Polly, Yes Carter has done some good things personally, but you don't understand or know his bad side. H

    • Harvey Stelman profile image

      Harvey Stelman 6 years ago from Illinois

      Froggy, What else can B.O. do but blame anyone or something else. I equate him to "Alfred E. Newman" of MAD Magazine. "I didn't cause that!" Hmm not a bad one, I think we can all use that.

      He could be MLK, "I Have A Dream OF Destruction!" H

    • Pollyannalana profile image

      Pollyannalana 6 years ago from US

      Great hub Frog I can't keep up with you, but I do so hate to compare Obama with as good as man as Jimmy Carter. OK he was not a good president but he is a very good man and the difference in him as a human being with Obama is day from night.

    • profile image 6 years ago from upstate, NY

      Thanx for writting this great Hub frog!I hope your right, in that a conservative will win in 2012 by large margins. I like the analogy of washington cutting down the cherry tree to the current president axing of our economy and then playing the blame game mixed with class warfare!

    • profile image

      34th Bomb Group 6 years ago

      You are so right, FP.

      What a douche... His embarassment at (maybe) being an American has resulted in many real Americans being embarassed to have him in the Whinehouse.

    • dallas93444 profile image

      Dallas W Thompson 6 years ago from Bakersfield, CA

      Right on... Enjoyed. Thanks for sharing. Falg up...

    • The Frog Prince profile image

      The Frog Prince 6 years ago from Arlington, TX

      34th BG - Remember him saying, "Elections have consequences?" Seems he wants to forget saying that after the "shellacking" he admitted taking in 2010. Yes, they do have consequences and so does the lack of leadership qualities he exhibits. We're the beneficiaries of that at the present time.

    • 34th Bomb Group profile image

      34th Bomb Group 6 years ago from Western New York State

      Both major parties are to blame for this ridiculous situation - the Dems are only the latest crew to screw us and they did it on national television. (The Health Care "meeting.")

      The arrogance of Obama literally frightened me. To see this man, who's had no experience running ANYTHING, preach about how he won the election ergo he could do what he wanted was horrific.

    • The Frog Prince profile image

      The Frog Prince 6 years ago from Arlington, TX

      LRC - Since the Hub is about Obama lets stick to the subject. I select the topic and you select whether to read about it or not.

      Raising taxes during a recession isn't sound economic policy. Remembering back, which I do, the extension of the Bush tax cuts was done while the Dems still had control of both houses of Congress and the White House. That extension was based upon the advice of economists.

      Since I'm a member of neither party and won't be anytime soon, I'll watch in amazement as they continue to try to perform a smoke and mirrors routine on the American tax payer. Looking at his slide, I believe that pulling the wool and placing blame for what is his isn't going too well.

      The Frog

    • LRCBlogger profile image

      LRCBlogger 6 years ago

      Frog, certainly a lot of truth in here but a bit selective in the truth, right? Obama's numbers are in the toilet, congress numbers are much much lower. People are not upset with Obama, they are upset with all of the politicians in Washington including the POTUS.

      I did a hub explaining that the economy was faltering largely because of consumer confidence. We are no longer spending money we don't have which is what created the 'strong' economy in the mid 2000's. (Americans buying houses they couldn't afford, taking HELOC loans to buy cars they can't afford, etc etc).

      Obama's economic policies have been largely the same as the GOP. First, the stimulus. Both GOP and Dems wanted stimulus, they just disagreed on how the money should be spent. GOP wanted more tax cuts, Obama wanted more spending.

      Second big plan was extension of Bush tax cuts for the 3rd time. History showed the previous 2 extensions did little for the economy. Both sides convinced themselves that this would be the right thing to do for the 3rd time even though they have been ineffective.

      Biggest difference between the 2 groups is the Dems want to legislate to create lower healthcare costs, more stabilized financial markets, etc. The GOP want the private sector to work things out. History shows, neither side is right. The private sector has let healthcare costs spin out of control and the govt has shown that they can't effectively mange large health plans.

    • profile image

      partisan patriot 6 years ago


      Remember the Misery Index under old Peanuts; how about Stagflation; well we now have Mr. "I cannot tell a lie", it was Bush's fault he ate my debt plan!

    • breakfastpop profile image

      breakfastpop 6 years ago

      We'll pull out of this mess, but Obama has to go and we need to grow up and face our problems head on. Up and useful and awesome.

    • profile image

      Ghost32 6 years ago

      Actually, it's looking like the operative word there is "possibly" when it come to the African American vote. One recent poll came up with 33% of black voters being deeply disillusioned with the dude.

    • 34th Bomb Group profile image

      34th Bomb Group 6 years ago from Western New York State

      You're so right Your Royal Highnessness - Carter #2 = Obama.

      He's SO pathetic he's driving this economy into downright ruin. The Europeans are laughing at us. They know we're screwed leaving them to no longer have to give us credit for saving their behinds in The War. (Not that they were doing it before...)

      Perhaps I'm too old, but way too many people have been suckered by this guy's rhetoric they overlooked his lack of experience - his lack of any past - his lack of ANYTHING which could have been a reason for electing him other than the color of his skin, that they voted for him only to show how enlightened they were. These misguided people showed how truly gullible the electorate was that they stuck us with a narcissistic, commie (socialist?).

      Hopefully, he won't ruin our nation before the next election when, I don't believe, the youngsters will not vote for this phony. In my personal experience, those "kids," starting with those who graduated from high school in 2008, 2009 and 2010, and can't find a decent job have already "turned." The only people he can possibly count on will be Blacks who, again, will only vote for him because of the color of his skin.

      Now Herman Cain? Him I'd seriously consider voting for. Not this chimera.

    • b. Malin profile image

      b. Malin 6 years ago

      You've covered Ground so well with this Hub My Froggy...We are living in the most difficult of times...we will survive...but we may pay a Big Price for it!

    • poetvix profile image

      poetvix 6 years ago from Gone from Texas but still in the south. Surrounded by God's country.

      I could not agree more. It really does feel like the Brothers Grimm are writing current events. The picture you conclude with is the happily ever after that sadly we know only exists in print and film, seldom reality.

      I wonder how long this administration will be able to justify ignoring the desires of the people. So far they have resorted to name calling and labeling anyone who even tries to offer constructive critisim often resorting to the race card when race has nothing to do with the issues. I would dearly love, and pay one hell of a price to see Obama debate Herman Kane (sp). It would preclude such shenanigans and might actually force the man to put forth a plan though if anyone could sidle around it he's the one.

      Great piece of truth telling here your highness.

    • The Frog Prince profile image

      The Frog Prince 6 years ago from Arlington, TX

      Stu - It's going to take a while to straighten this mess out but our nation has weathered storms before and we'll do it again. Time to send the progressives back into their holes again.

      The Frog

    • profile image

      Stewart Engelman 6 years ago

      Even though the debt deal was just a punt, we can't blame only Obama and the Democrats. GOP's signed onto it to. The truth be told, almost nobody in power has the guts to face this thing. And if we wait too long, the crisis will be too big to solve by any means. Those few in Congress who voted against the final deal were lambasted as "crazies" who "wanted to see us default." This is just pure nonsense. Failing to raise the debt ceiling would not have required a default, or required Obama's stupid cuts to military pay. Discretionary spending could have been cut first (i.e., pork), and then badly needed cuts to mandatory spending ("enforcing" violations of enumerated powers) could come after. But these steps reduce Congressional and Administrative power, and ability to extort bribes, oh, excuse me, campaign contributions, so they are deemed "untouchable," even if it means the nation has to go down in financial flames.