Even though the recession began long before President Obama took office, 20% of voters blame him for the current economy. I understand that people are scared and angry. But, do they think anyone could have made the worst recession since the Great Depression go away in a just a year? In the same poll, 54% of voters disapprove of how President Obama has handled the economy. Just over 40% approve of his economic programs, while 6% aren't sure. What do you think?
Much of the frustration over Obama's handling of the economy can be explained by two factors. The first is that voters are really upset that Obama hasn't created more jobs. Nearly two thirds say he hasn't created enough jobs. The other factor is explained by party lines: 77% of Republicans, but only 17% of Democrats, disapprove of how Obama has handled the economy.
Voters are also fairly split on whether Obama is focusing enough on the economy - 47% say he is not spending enough time, while 41% say he is spending the right amount of time. There are even a few - 5% - who say he is spending too much time. The poll was done by Quinnipiac University, who surveyed 1,767 registered voters nationwide between January 5-11.
More on Obama's Handling of the Economy
- Recession Is Over, Thanks to Stimulus
- Obama's Health Care Reform Plan
- Obama Economic Stimulus Package
President Barack Obama (Photo Credit: Michal Czerwonka /Getty Images)
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Comments
well i dont think so Americans should Blame Obama for Recession because if you look Economy recovering and probabaly it will take time
Obama is not a Magician as he doesnt have magic stick Definitly it will take time Look NoN Farm PyRoll, DJIA about to touch 11,000 all sector is on right way
But still Bumpy Road may ahead but no one can blame Obama
Hi Asif,
I agree. That statistic just leaped out at me. If anyone has a different point of view, or can help me understand why Obama is to blame, please chime in.
Kimberly
One just needs to look at the S&P index to see that the economic strategy is working. Job creation always lags behind the financial recovery.
While the right cries “no fair” when anyone suggests Obama inherited a mess, it obviously takes time to turn around a ship as large as America. Too many politicians and pundits (Limbaugh, Hannity, Beck) are actively tearing apart the country to get their people back in charge. Anyone who allows his or her opinion to be shaped by Glenn Beck scares me. Watching him for five minutes should be enough for anyone to know he’s either a master showman or a lunatic. But certainly not someone to shape public opinion.
Hi Dennis,
I agree that there is a lot of destructive rhetoric that doesn’t help anyone understand the economy. Placing blame makes people feel helpless and even more frustrated. I try to bring facts so my readers can take effective action to improve their lives.
This economic crisis is going to take all the resources we have as a country and as a people to really pull out of it. Blaming, point fingers and dividing the country into “us” v.s. “them” doesn’t empower anyone. Worse, it could make the recession last longer.
This country became great by pulling together in a crisis. Let’s hope we revert to those true traditional American values and realize we are all, in fact, in this together.
Kimberly
Obama is definitely NOT responsible for the recession. Just a casual look at a calendar makes that issue moot. However, many are not sure WHO is responsible. Prior to April 2005, US banks were subject to leverage limits of 12 times capital. With excess liquidity in the economy the banks wanted to increase their yields with the sub-prime loans and sales of derivatives based on those loans. The top 4 held a meeting with Christopher Cox of the SEC to request the suspension of the leverage limits. Cox agreed and in short order, Lehman Bros. (remember them?) raised their leverage ratio to over 30! The rest you know! Lehman was the snowball that started the avalanche. So, if you want to look around for those resonsible for the recession you might start in more or less the following order: 1) Christopher Cox; 2) Alan Greenspan; 3) Henry Paulson (when at Goldman Sachs);
4) Lehman Bros; 5) Maurice Greenberg (AIG); 6) Sundry nutty bankers; 7) Rating agencies that gave the fluff AAA ratings. Going further back we can even blame those responsible for de-regulating investment and commercial banking and allowing for them to merge operations. In short, there is a very long list of defendants before we get to Barack Obama. Blaming Obama is like blaming the mechanic who has to fix your car when it breaks down just because his bill is high. He didn’t break it, but he has to fix it!
Its unfortunate that people don’t think for themselves, preferring a brainwash from FOX. Common sense and reason are in short supply unfortunately
Thanks, Jim, for your insights. I did not know that about the SEC meeting. I do know the G-20 begged the U.S. to increase regulation, and the Bush Administration just pooh-poohed it.
To James – My goal is to explain the economy as clearly and passionately as Fox News, which is difficult because the economy is very complicated. But, it doesn’t have to be. It can be explained clearly. This finger-pointing and blaming only makes people feel more helpless and angry. Knowledge is power, but only if it is used to make effective decisions.
Kimberly
As Far as i think there is not only Recession in US but there is a Global slow down all world suffering from Recession.ok.The Question is:
All population of world blaming to their country President?
Or they blaming to what?
what i want to say is dont blame Obama NFP is now -80 from -539 no one thinks. I personally have no Sympathy with Obama.ok
Let we all stop blaming and start thinking for Global Recovery and its Extenison.But Seriously
ASIF
Obama was not responsible for the Great Recession.
Given the points above that other people have made, it seems clear that recovery might take a long time, partly because, as Kimberly says, the US ecomony is so complicated.
There is a great deal of debt around which needs to be managed sustainably. Credit card debt falling is one step in the right direction.
President Obama needs to explain that recovery might be tougher than the recession, and will not come with quick fixes. I suspect many people think that Obama has not handled the economy as well as he might have because their expectations have been too high.
I do not expect the US economy to recover for years.
The root cause of the recession are：White House,FED，WALL STREET Congress , Senate and all Americans.All these 7 groups have orchestrated spent too much long before Obama was elected.Americans have to sacrifice for 30 years and , in the meantime, get rid of the corruptions collaborated by White house,FED, WALL STREET ,Congress and Senate!
gold-oil-rich@hotmail.com
Well the root cause is the Fed. We are trapped in a vicious cycle of eternal debt. I do not want to sound like some conspiracy theorist but we all know how the government bailed out the banks and how it flushed the whole economy with liquidity… through more debt from the Fed!
Obama isn’t to blame for the economy but he is to blame for guaranteeing that it won’t be fixed anytime soon. Debt is what got us into this mess and what does the “brilliant” Obama do? Buys us more debt on the ‘chance’ that it ‘might’ work….. WHAT? And what if that chance doesn’t happen? Our nation will go bankrupt…. down the drain…. kaput! Obama thinks borrowing more money and just throwing it around will make everyone happy and then we will hold hands, sing Kumbaya and live happily ever after. Sorry… doesn’t make sense. You cannot get out of debt by increasing your debt. Cash for Clunkers? BAD IDEA. National Healthcare? How can we expect to save money if the government takes over healthcare? HUH? Look at the govt’s track record… US POST OFFICE…BROKE….. SOCIAL SECURITY…BROKE….. .MEDICARE/MEDICAID….BROKE……FANNIE MAE/FREDDIE MAC….BROKE……. Giving the govt healthcare is like giving an alcoholic the keys to a liquore store and telling him to not touch anything……..
We can’t blame Obama for the debt – it was at $10 trillion before he even took office. There weren’t too many people complaining about it then (although I was!).
He did the right thing by passing the economic stimulus bill last year…it created confidence, which is what our economy is really built on.
However, planning for a $1.4 trillion deficit for FY 2011, and $800 billion deficit for every year afterward removes confidence. And, the budget does not target enough funds the most important sector for job creation…small businesses.