Obama is a likable guy, even if his approval ratings are nothing to write home about for a new president. According to Rasmussen, Obama enjoys a 55% approval rating today, which is a jump off of his low of 53%. His all time high is 65% on inauguration day. He’s about to become a really popular president, whether I or anyone else agree with what he’s doing. I haven’t payed close attention to previous presidents, but I’m pretty sure when the economy improves, so does the president’s poll numbers. It takes skill to screw up a gift like that.
I am among those who predict the economy will jump significantly at the end of this year, and I predict Obama will feel the benefits. Some think that Obama is creating a huge inflation problem in the near future with his spending, I don’t agree with this. There might be inflation in the future, and Obama could be held responsible, but it won’t really be his fault, inflation is primarily caused by Fed policy. When the economy recovers, I see his approval ratings jumping, even though I don’t think he’s done much to help the economy.
Those who are trying to crush him are trying too hard, and they are too negative on the future of the United States, and they are going to be disapointed about how well we come out of this recent slump. In my opinion, no one should be upset about economic recovery, even if it comes at political costs. Obama’s tactics will eventually cause some problems. We will be growing below potential. This will be hard to measure, and hard to argue, but those who are against him should not delude themselves into thinking his acts will instantly be his downfall. There is incredible lag in the economy, which makes it a hard task to find cause and effect. The reality is it’s easier to make up false, politically favorable economic arguments, on either side, than actually finding a more convincing true narrative. A reason, I believe, economics should be required learning.