Economy could make Obama, Democrats vulnerable in 2010

CNN ^ | 5:03 p.m. EDT, Wed July 8, 2009 | Christine Romans

[TSgt]

NEW YORK (CNN) -- They are two presidents from different parties but have striking similarities. President Obama maintains that investing in key areas such as health care will help stabilize the economy. Former President Ronald Reagan and current President Obama are incredibly popular, and both faced rising unemployment early on. Reagan's experience could be instructive for Democrats today; the GOP lost 26 seats in the 1982 elections. Reagan's popularity could not trump double-digit unemployment. "If we look back at 1982, as soon as the unemployment rate hit 10 percent, there was a political dynamic that changed significantly ... and it became much harder for the incumbent party to be able to make their case," said Daniel Clifton, head of policy research at Strategas, an investment strategy and policy research firm. But Reagan was fighting joblessness, inflation and high interest rates. Obama has a full plate, but inflation and high interest rates are not on it. Nonetheless, the jobless rate today is at 9.5 percent, which is above the peak of 8 percent the White House predicted earlier this year.

[TSgt]

The Reagan/Obama comparison from leftist CNN is sickening to say the least. The difference is that Reagan didn't eviscerate the economy, businesses and workers like Obama is currently doing.

I spoke with a construction worker yesterday who was repaving my road and asked if he had seen an uptick in road/bridge work due to the stimulus. He said that my road project had been scheduled for a long time and that he and his coworkers have to take a 2 week furlough this year because work is drying up. This large construction firm that performs a lot of state road/bridge work is not seeing much on the horizon.

It would appear that the market is also waking up to the fact that there is no recovery and that the stimulus is being used to temporarily prop-up state and local governments.

[Woebama]

The stimulus is being used to prop up the left: state workers, leftist activists, environmental lawyers challenging building projects, etc.

[dawn53]

CNN, and other liberal MSM types (including probably the NYTimes) will probably start running these kind of articles/reports as a way to “warn” Obama that he’s treading on dangerous ground. Somehow I don’t think Obama will listen, but maybe the Dems in the House and Senate will.

[Sooth2222]

...construction laborers who send the money back to Mexico, Chinese manufacturers of large-screen TVs, etc. etc.

Since many consumer goods aren't even manufactured in the US any more, Congress needed to be very careful how they applied the stimulus money. They weren't. They just threw the money out the window.

Japan is in the 19th year of its balance-sheet recession now.

[ripley]

“Economy could make Obama, Democrats vulnerable in 2010.”

Never. Everything, anything, will always be “the mess” created by the Republicans with the Democrats holding onto power by way of a propaganda barrage by the press.

IMHO

[Moonman62]

The Reagan/Obama comparison from leftist CNN is sickening to say the least.

Agreed. Compare interest rates between now and then.

[Ghost of Philip Marlowe]

Could? COULD?

That we allowed (and partially enabled due to spinelessness) the Democrat Neo Communists to steal the title of the smart economic party is a disgrace. The welfare state and socialism fails every where it has been tried.

And now the GOP has to convince America that they have the more sound fiscal policies?

The GOP wet its own bed. They can sleep in it for a while until they grow up and start fighting with fists rather than slapping.

[TSgt]

The GOP wet its own bed. They can sleep in it for a while until they grow up and start fighting with fists rather than slapping.

And that's the travesty of it all. Conservatives stand at the precipice of making a comeback but have zero leadership to take them over the edge.

I never thought I would support a 3rd party but believe it's time.

[03A3]

I saw the same thing recently in WI while visiting a wastewater integrator. When I asked how business was and if they had seen any federal stimulus money they replied that all current projects had been put on hold, as the companies were now trying to fund them with federal money, achieving in effect the opposite of what was intended.

[Quickgun]

Only communist left media could compare Reagan to Zero.
Sort of like comparing Mother Teresa to Charles Manson....

[Ghost of Philip Marlowe]

“I never thought I would support a 3rd party but believe it’s time.”

You and me both, brother.

I was the standard-bearer among all conservatives that I knew that to vote third party was as good as voting the Leftist into office.

But if Sarah goes third-party and can promise anything in the double digits, I’ll vote for her and her third party in a heartbeat.

Even if she doesn’t win. If it is enough to convince the GOP to readopt conservative principles and FIGHT the left rather than try to slightly modify their agenda, that is enough for me.

[TSgt]

But if Sarah goes third-party and can promise anything in the double digits, I’ll vote for her and her third party in a heartbeat.

I'll stand with the both of you.

I'm sick and tired of corrupt, inept, weak GOP leadership.

The left fought hard during the last election while the GOP tried not to "offend" anyone. Believe me, I'm ready to offend.

[SueRae]

My gentleman friend is a union carpenter. There is hardly anything out there, except for curbing and streetscaping that can be traced back to ‘stimulus’. He’s been out of work over six months. What little there is was scheduled long ago, work is being performed by foreman and likely even some superintendents, and even that is drying up. He is on the road and phone every day calling prospects.

Yep, white construction workers are one marginalized entity right now.

[Ghost of Philip Marlowe]

I've been a debater for years. But I was always polite in social settings, bit my tongue, much preferring to have a pleasant time.

Now I just wait to pounce.

No more Mr. Nice Guy.

And it's very easy to do. If someone says something supporting anything to the left of center, just keep at them making them defend why it is good for liberty, good for America, and good for prosperity.

They will not be able to defend it with any coherency.
And they'll learn to keep their libtard mouths shut.

[TSgt]

http://blogs.moneycentral.msn.com/topstocks/archive/2009/07/06/true-unemployment-rate-already-at-20.aspx

Deutsche Bank's chief U.S. economist Joseph LaVorgna wonders how much of this decline is due people exhausting their standard 26-week benefit. He says: "We are concerned about what will happen when a significant share of out-of-work individuals' benefits completely expire, because this could lead consumer spending to re-weaken, hence jeopardizing a fragile recovery."

Unless the economy starts getting traction here in the third quarter, we could face a situation where people find that they have no job and no unemployment benefits. For these people, 2009 will feel an awful lot like 1932. As a result, spending cuts will be deep and dramatic.

[ProtectOurFreedom]

With the press providing cover for Obama, official government statistics grossly underreporting unemployment, palpable fear paralyzing many people, and a Chicago thug racist in the WH, I think an official 10% unemployment number is not going to have the negative impact of years past.

[JimRed]

Economy could must make Obama, Democrats vulnerable in 2010 or we're toast

Corrected headline.

[DavidFarrar]

I think instead of a 3rd party...Sarah should take over the Republican Party. Republicans have done it before with the Wigg Party. We did it once, we can do it again. IMHO, the Republican Party should be renamed The Tea (Taxed Enough Already)Party.

Once created, Sarah would simply encourage all grassroot Republicans, grassroot Independents and all grassroot fiscal conservative Democrats to become grassroot Tea party members.

Finally, Sarah should ask every local county Republican Party executive committee to pass a resolution disbanding the Republican Party and become The Tea Party.

ex animo
davidfarrar

[Luke21]

CNN blamed Reagan for everything but burnt toast in 1982. This is laughable.

[6ppc]

but inflation and high interest rates are not on it

I'm confident we'll have both by the mid-term elections.