Americans are worried about the economy and unemployment. 91 percent of Americans say the economy is our top problem according to polls published today by the Associated Press and reported in a story by Liz Sidoti. Unemployment is cited as the second most important issue.
Unemployment is still hovering near 10%. Consumer confidence is down, deficits are at an all time high and home foreclosures continue to be a problem. Recent polls show Americans blame President Obama for the current economic conditions. The AP story today reported just 41 percent of Americans approve of the President’s performance on the economy. This is serious news for Democrats as the mid term elections loom. The Democrats have been in the majority not just in the first 18 months of Obama’s term, but for the last 2 years of President Bush’s presidency.
81 percent of Americans say the economy is poor or very poor. 60 percent say the country is heading in the wrong direction. There is a long list of issues on which Americans disapprove of Obama’s performance including: the federal budget deficit, unemployment, health care, taxes and immigration.
The opinion of the public might be even worse if a change had not been made in the way unemployment numbers are reported. Since the Clinton administration the government reports as unemployed only those out of work for a year or less. Once they reach a year they drop off the statistics. If the unemployment rate was measured by pre-Clinton methods the actual number would be 22 percent The reported numbers are hiding a lot of people. I personally know of 6 people that have never been part of the numbers because they quit jobs or sold businesses. They could not find a job and still don’t have a job, but aren’t counted and never have been. I bet most of you could tell the same story. That is why we don’t believe the economy is getting better no matter how many times the President and Vice President tell us so. Saying it is the “Summer of Recovery” doesn’t make it so.
President Obama has been to our state twice this summer. Yesterday he visited ZBB energy to promote his green jobs program. ZBB got $14 million in stimulus money. ZBB has been losing money for years and only employs 30 people. It is this type of spending and lack of success that has helped to sour the American people on Obama’s vision for the economy. Obama seems to be pushing full steam ahead without regard to the views or wishes of the American people. It is no surprise we have lost confidence in his leadership and ability to manage our economy.