Obama Says Recession Nears End as Data Improve While Polls Fall

[Orwellian_Ghost]

Obama Says Recession Nears End as Data Improve While Polls Fall


By Nicholas Johnston and Edwin Chen

July 30 (Bloomberg) -- President Barack Obama sought to reconcile improving economic data and his own sagging poll ratings by telling Americans that many are still struggling even as an end to the recession may be near.

The president opened two events yesterday outside Washington designed to focus on health care with a defense of his economic policies, saying they stopped a “freefall.”

“We may be seeing the beginning of the end of the recession,” Obama told about 2,000 people at a high school gymnasium in Raleigh, North Carolina, a state where the unemployment rate is 11 percent. “But that’s little comfort if you’re one of the folks who have lost their job, and haven’t found another.”

The president’s remarks were designed to reassure the public that he understands the impact of the worst recession in five decades, which has pushed the national unemployment rate to 9.5 percent. It has also depressed Obama’s approval ratings and complicated his drive to overhaul the health-care system.

...

http://www.bloomberg.com/apps/news?pid=20601103&sid=ap1VuLM3DTIw

[greguganus]

1. I never put much stock in polls. n/t

[DarthDem]

2. Yawn at the "Falling" Polls

The mediots have to have a story right now, and so the fact that Obama is being unfairly blamed for the crappy economy, caused by eight years of the idiot who preceded him, takes center stage. Nothing to see here. Who cares about polls without an election? (Not me.)

[Zynx]

3. Reagan had a 39% approval rating when the economy bottomed in a recession

of actually shallower depth. It took months for it to improve after that.




The difference is that Obama is dealing with an economy that was already falling apart when he took office whereas the 1981-82 recession took hold in mid-1981 and didn't really pick up speed until the end of 1981. Throughout 1982 Reagan saw a steady erosion of support until the economy began to recover.

[Larry Ogg]

4. The illusion that things are improving works best on those who are not affected by reality.

I bet if they would try polling in some homeless camps, tent cities and food lines they would get some really depressing results.

[SammyWinstonJack]

5. +1

:thumbsup:

[Larry Ogg]

10. Than you Sammy n/t

[Joe Fields]

7. illusion.

[Larry Ogg]

8. Thank you Joe

My spelling and grammar checker helps me avoid a lot of embarrassment, but then it can’t perform miracles.

Again thank you for pointing it out.

[Orwellian_Ghost]

11. Agree

Where's the evidence I ask? The economic indicators are dismal at every turn.

This is all just fatuous happy talk.

[Joe Fields]

6. Hah! The reason he is saying the recession is ending is specifically

BECAUSE his poll numbers are falling. We had significantly more jobless claims this month than last month.

[Juche]

9. That is what Roubini also said

He said the recession would be about 24 months, and we are nearing the end of it. He also said unemployment would hit 10%, this year, 11% next year and stabalize at that rate.

I know alot of employers are cutting hours instead of laying people off (my employer did this before I was let go, cut people's hours), so once the economy picks up employers will just add back those hours instead of hire new workers. So even after the recession starts to end, I don't think employment will pick up.