Diary

42.8% Approve 53% Disapprove

President Obama’s average approval rating has fallen to an all-time low of 42.8% and reached an all-time high disapproval number of 53% as we begin September. From Realclearpoltics.com:

Poll Date Sample Approve Disapprove Spread
RCP Average 8/16 – 8/30 42.8 53.0 -10.2
Rasmussen Reports 8/28 – 8/30 1500 LV 42 57 -15
Gallup 8/27 – 8/30 1500 A 39 54 -15
Quinnipiac 8/16 – 8/27 2730 RV 42 52 -10
CNN/Opinion Research 8/24 – 8/25 1017 A 45 54 -9
Associated Press/GfK 8/18 – 8/22 1000 A 46 52 -6
Pew Research 8/17 – 8/21 1509 A 43 49 -6

When you look at what has happened to the country this summer these numbers are not a surprise: the high unemployment rate, the debt ceiling fiasco leading to the S&P downgrade and the turmoil in the markets in August. I’m sure even those who no longer follow the stock market closely because the markets have kicked you in the teeth one time too many, are aware of the devastation. Take  a look at this 3 month chart.

 Chart forDow Jones Industrial Average (^DJI)

What the media has not been discussing is the fact the market did not suffer a decline, it suffered a crash. The technical damage done to the market is considerable and will take some time to work itself out.  As I write the first-time unemployment claims remain above 400,000, I stopped counting how many weeks in a row it has been this high when it hit 15 straight weeks back in the middle of July. Productivity came in a -.7%, making it the third straight month of negative productivity. A dubious achievement accomplished only three other times, 1973,1974, 1979. Tomorrow we get the unemployment number. Good news in our economy is nowhere to be found.

In this setting the president wished to give a speech to a joint session of Congress on the same day as the Republican’s long schedule presidential debate. A coincidence, the White House claims. Finally, the Obama Administration has made a claim so completely ludicrous even the main stream media is scoffing. Perhaps the president would like to return to Martha’s Vineyard for the last week-end of the summer.

I wish he would.

Stay there too.

Really.

I won’t miss him.

Judging from these numbers, I’m not alone.