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February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
May 19, 2009
/ 25 Iyar 5769
When will Obama own the recession?
By
Dick Morris & Eileen Mc Gann
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http://www.JewishWorldReview.com |
When will the economy stop dropping because of the recession and start dropping because of the harm Obama's cure to the recession is inflicting? There will likely be a seam that will run through the polling and recession statistics in the next few months when the symptoms of the disease abate and those triggered by Obama's program begin to kick in. In short, when will the Bush recession become the Obama recession? In fact, it may already have happened.
Obama's popularity and the economic statistics fell, pretty much in tandem from his inauguration until early April. During this period, unemployment rose by two points, consumer confidence fell, and over 2 million jobs were destroyed. Over the same term, the president's approval ratings (as measured daily by Scott Rasmussen - www.rasmussenreports.com) fell from a post-inaugural level of 65% to 55%.
Then both the economy and the president's approval ratings started to climb. The former was fueled by pre-mature claims that consumer spending was rising (it turned out to be only a January post-Christmas blip) and that jobless claims were falling (they resumed their upward march in May). The stock market, impelled more by wishful thinking than by mature analysis, had its first positive month in April and optimism spread.
This good economic news combined with media hype about Obama's first hundred days and helped push his ratings back up over 60%.
But now both the economy and Obama are back on a downward trend. Could it be that the false dawn of late April was the seam we are awaiting? Could it have been the moment when the economy did what it would always naturally do and begin its recovery only to have the momentum squashed by Obama's policies?
Perhaps it was. But whether it was or not, the moment is likely to come when the after-effects of the cure overcome the recovery from the economic disease.
The signs of a negative economic reaction to Obama's program are already quite visible. Interest rates on ten year Treasury bills have risen by 50% since January in anticipation of the coming bout with inflation. Capital has been diverted wholesale from new businesses into channels that do the economy no good. The treasury's debt is soaking up funds. So is the sale of toxic assets from banks. The demands for capital set in motion by Obama's spending spree and his bank bailout plans are already blocking investment in economic growth.
Then, last week, in a breath-taking demonstration of presidential chutzpah, the president warned that the deficit (which he caused) is growing too large and that inflation (as a result of his policies) might be looming ahead. His peroration was likely to prepare the way for tax increases. Just as Reagan drove down taxes while increasing military spending and then used the resulting deficit to stymie liberal spending plans, Obama is increasing spending and the deficit to force tax increases.
But the president's belated recognition of the damage of his policies is scant compensation for the havoc they will increasingly cause.
And, at some point, soon, the public will get it that we are now in a recession caused by Obama's programs not by the shocks of 2008. His ratings will probably resume their stately descent and sink further. The key moment, of course, will be when his presidential approval score drops below his vote share of 52%. At that point, he is shedding votes and the political impact becomes serious.
Whether we have entered this phase or the seam has yet to come, the transition from the Bush recession to the Obama recession will be an historic moment with huge political consequence for this Administration.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
JWR contributor Dick Morris is author, most recently, of "Fleeced: How Barack Obama and Hillary Clinton, Media Mockery of Terrorist Threats, Liberals Who Want to Kill Talk Radio, the Do-Nothing Congress, Companies ... Are Scamming Us ... and What to Do About It". (Click HERE to purchase. Sales help fund JWR.) Comment by clicking here.
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