WSJ survey: Economists give Obama, Geithner failing grades so far
posted at 7:34 pm on March 11, 2009 by Allahpundit
On average, they gave the president a grade of 59 out of 100, and although there was a broad range of marks, 42% of respondents rated Mr. Obama below 60. Mr. Geithner received an average grade of 51. Federal Reserve Chairman Ben Bernanke scored better, with an average 71…
[E]conomists’ main criticism of the Obama team centered on delays in enacting key parts of plans to rescue banks. “They overpromised and underdelivered,” said Stephen Stanley of RBS Greenwich Capital. “Secretary Geithner scheduled a big speech and came out with just a vague blueprint. The uncertainty is hanging over everyone’s head.”…
The economists’ negative ratings mark a turnaround in opinion. In December, before Mr. Obama took office, three-quarters of respondents said the incoming administration’s economic team was better than the departing Bush team. However, Mr. Geithner’s latest marks are lower than the average grade of 57 that former Treasury Secretary Henry Paulson received in January…
The economists didn’t just single out the U.S. for criticism; 70% of participants said the response of governments around the world to the global recession has been inadequate.
At least one of them rates better than Paulson — slightly. Whew! In fairness to The One, we are talking about economists here; the range of “expert” opinion varies as widely as nationalizing the banks and pouring trillions into a stimulus, a la Krugman and Nouriel Roubini, to spending jack squat and letting the bear market devour any company it finds in its path, a la Peter Schiff. When the poles are that far apart, you’re bound to disappoint some people bitterly no matter what you do. On the other hand, what’s his excuse for forgetting to staff the Treasury Department or sending Geithner out to announce his plan when he doesn’t have a plan yet? Reserve a special place for those two missteps in your rapidly bulging “What if Bush did it?” file, please.
Exit fun fact: The same economists put the odds of a depression at one in six. Lower than I’d have guessed, frankly.
Blowback
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“F” – for “out of their frakking minds” (yes, I’ve been watching Battlestar Galatica).
madmonkphotog on March 11, 2009 at 7:36 PM
But on a bright spot, Geither’s income taxes won’t be faked this year.
Chuck Schick on March 11, 2009 at 7:38 PM
Let’s here if for ‘Doogie’ Geithner! White Castle for Everyone!
austinnelly on March 11, 2009 at 7:39 PM
Battlestar Galactica has really turned into a piss-poor soap opera.
The first season was so promising…
blue13326 on March 11, 2009 at 7:40 PM
And that’s being kind.
Firebird on March 11, 2009 at 7:40 PM
Sure to be a recurring theme for this administration.
mrsmwp on March 11, 2009 at 7:41 PM
I’d imagine that the bulk of the economists who gave Obama and Co. decent grades are in academia, while those who actually have to make predictions for firms in the market were pretty harsh.
blue13326 on March 11, 2009 at 7:41 PM
B-b-b-b-b-b-b-u-ssssssshhhhhhhhh!!!!!!!!!!!!!
bloggless on March 11, 2009 at 7:41 PM
That is more optimistic than I feel. Are they factoring in the fact that we have to withstand at least 21 more months of unchecked liberalism/socialism running our economy and country?
carbon_footprint on March 11, 2009 at 7:42 PM
You don’t have to be a Wall Street economist to know stupid when you see it.
Star20 on March 11, 2009 at 7:45 PM
Where is policy coming from? Is it just being outsourced to Congress?
Spirit of 1776 on March 11, 2009 at 7:46 PM
Boy Emperor Obama and General Wrong-way Geithner are doing a financial version replay of WWI. In WWI millions of troops were sent into a meat grinder and killed with little, if any, advancement in battlefield position achieved. Now Boy Emperor Obama and General Wrong-way Geithner are sending trillions of dollars into a Pork/Bailout Grinder with little, if any, advancement in the economy being made.
History repeats itself, first as tragedy, second as farce.
- Karl Marx
Get ready for your grandchildren to be indentured coolies to the Chinese.
MB4 on March 11, 2009 at 7:47 PM
We have a POTUS made of Jello, Treasury run by Doogie Howser, and a bunch of Chicago thugs running the White House…What could go wrong?
d1carter on March 11, 2009 at 7:47 PM
“before Mr. Obama took office, three-quarters of respondents said the incoming administration’s economic team was better than the departing Bush team.”
People will be begging for Bush to come back before this thing is over.
portlandon on March 11, 2009 at 7:48 PM
They say The One is out of sight.
bloggless on March 11, 2009 at 7:48 PM
Obviously those economists are racists!!!
/sarc
rbj on March 11, 2009 at 7:49 PM
Apparently they are not grading on a curve. Reality check for Obama.
Y-not on March 11, 2009 at 7:49 PM
This whole 50 days is like a really bad made for TV movie of “Lord of the Flies”
Who’s in charge here?
portlandon on March 11, 2009 at 7:50 PM
ACTING president ZERO.
tarpon on March 11, 2009 at 7:50 PM
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Yes… even at work (where the Obamites are thick as flies). I’ve overheard a few ‘it doesn’t look good for him’ conversations this week.
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Fear is on the rise, and the Cool-Aid is wearing off a bit. Just like Buffet and those guys though, there is still a lot of emotional attachment to Obermister’s presidency so… we may have to wait for his first real test (and failure to be sure), as in nothing to do with the last administration, all Obama’s from everyone’s POV… before he truly finds his real (laughable) poll numbers.
RalphyBoy on March 11, 2009 at 7:50 PM
And this is the guy who criticized Bush for incompetence.
Cicero43 on March 11, 2009 at 7:50 PM
Remember the Bailout!!!! Get ready for April 15th tea party.
bloggless on March 11, 2009 at 7:50 PM
The Obama administration is like a box of Idiots, you never know what kind of a Moron you are gonna get.
MB4 on March 11, 2009 at 7:51 PM
Not surprising since economists generally tilt toward the right with a few exceptions like Krugman but heck I know more about economics than Krugman. I saw somewhere that in academia the economics department is one of the few places you find conservatives.
goat on March 11, 2009 at 7:52 PM
Sad thing is, that no matter how badly he fails, it is Chris Matthew’s job to make him successful. Thrilling.
bloggless on March 11, 2009 at 7:52 PM
Electing Obama was like putting a smartass 14 year-old genius in charge of General Electric.
Cicero43 on March 11, 2009 at 7:52 PM
In over their pay grade.
the_nile on March 11, 2009 at 7:52 PM
Without the genius part.
Y-not on March 11, 2009 at 7:53 PM
Allah,
You’re back! Nice post…
Seriously folks, Obama freaks are in a serious funk here in my area. People are taking the Obama stickers off their cars and walking around like zombies. You should have seen Bozeman a month ago, Obama mania everywhere; now, very little sign of anything Obama and NO enthusiasm anywhere.
Keemo on March 11, 2009 at 7:53 PM
The Training Wheels Presidency.
Cicero43 on March 11, 2009 at 7:53 PM
Engineers tend to tilt more to the right as well.
Y-not on March 11, 2009 at 7:54 PM
Me too.
Bob's Kid on March 11, 2009 at 7:55 PM
Obama is not getting a passing grade? Really? That’s news?
Meanwhile, we are going to be getting about 4 days of rain, it won’t be a cold rain.
Pretty much this marks the end of winter, and beginning of spring.
right2bright on March 11, 2009 at 7:56 PM
O’bama’s Depression.
Keemo: Interesting observation. Same result here in NH.
Del Dolemonte on March 11, 2009 at 7:57 PM
Da Bama and his ilk aren’t failing. They are keeping the disaster alive so they can milk it for every nickle Americans have, and Americans are getting it/that.
DannoJyd on March 11, 2009 at 7:58 PM
Hey, now wait just a second! First off, Obama is trying. That means he gets a C at least right there. Now throw in the booming unicorn sector and we’re looking at a B maybe B+.
All this negative talk is bad for Dear Leader’s self esteem, and since feelings are more important than facts, I insist you guys start cheering our Messiah immediately. I mean c’mon you guys, being President is, like, hard.
trubble on March 11, 2009 at 8:00 PM
Y-not on March 11, 2009 at 7:54 PM
Not surprising since engineering and economics aren’t touchy feely jobs nor glamorous. I sure wish I had finished my electrical engineering degree but the need for a paycheck was to great at the time so now I’m just a lowly tradesman.
goat on March 11, 2009 at 8:00 PM
It’s my understanding that when Bush brought Paulson in, the majority of the economists Paulson brought in were Democrats.
Del Dolemonte on March 11, 2009 at 8:00 PM
So their economic policy sucks.
Their foreign policy is nonexistent, due to it stressing little Barry out too much.
Their domestic policy has otherwise consisted of continued Bush national security measures.
Oy.
MadisonConservative on March 11, 2009 at 8:01 PM
I’d call you a craftsman, Goat, and there’s nothing lowly about it.
Bob's Kid on March 11, 2009 at 8:02 PM
5 economists 10 opinions. They are all right even when they are wrong.
barkolounger on March 11, 2009 at 8:03 PM
You conveniently left out these parts:
The latter sounds similar to something Obama recently said, doesnt it?
orange on March 11, 2009 at 8:03 PM
Can they not rate Krugman as an outlier? “ZOMG Obama is dreamy!!one1″ doesn’t exactly pass muster as analysis.
spmat on March 11, 2009 at 8:04 PM
And we are getting a real soaking in Central Texas. We were in a long drought.
carbon_footprint on March 11, 2009 at 8:04 PM
Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.
- Charles Mackay
MB4 on March 11, 2009 at 8:05 PM
Don’t you folks understand that this is only a raw score – before the affirmative action credit is applied. This 59%, after all the appropriate adjustments to insure social justice, is an A. Just ask Columbia University and Harvard Law. They’ll explain how it all works.
progressoverpeace on March 11, 2009 at 8:07 PM
Note their CYA hedging.
MB4 on March 11, 2009 at 8:07 PM
As for the 1-6 chance of entering an actual depression that sounds about right to me. Only certain parts of the country have been hit really hard, mainly blue states, some areas are actually doing fine so these are not really depression like numbers I am seeing. We have only had two quarters of negative growth not 15 months like some pundits like to say.
goat on March 11, 2009 at 8:09 PM
sounds something like it…of course for some reason the guys who know what the hell they’re talking about didn’t mention anything about profit/earnings ratios….
care to elaborate for your teleprompter Jesus?
sven10077 on March 11, 2009 at 8:09 PM
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Kinda works this way too…
RalphyBoy on March 11, 2009 at 8:10 PM
He should have stuck with being the “visionary leader of a massive movement”, or so they tell us.
neuquenguy on March 11, 2009 at 8:10 PM
Bob’s Kid on March 11, 2009 at 8:02 PM
My comment was a little sarcy I am proud of my craft/trade and I’m darn good at it.
goat on March 11, 2009 at 8:11 PM
Nikkei Dec 1989: 39,000
Nikkei Mar 2009: 7,300
And that was with similar, though better, economic and monetary policies than the idiot messiah is proposing, while the moron is also trying to strap the US with continuing expenditures forever into the future.
You invest for the long term with this moron making policy. The really, really long term.
Our market is a good long-term investment only when it becomes clear that the idiot messiah is about to be removed from office and most of the lunatic Congress are about to be marched into jail. That’s when I’ll start buying like crazy.
progressoverpeace on March 11, 2009 at 8:12 PM
Amen
canditaylor68 on March 11, 2009 at 8:15 PM
Del Dolemonte on March 11, 2009 at 8:00 PM
I didn’t know that but then again wasn’t paying much attention to it at the time. If that’s the case no wonder things started going down hill from there.
goat on March 11, 2009 at 8:16 PM
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Near the center of the town where my retreat is located (pop about 850 and tons of hunters in that group), there’s a house with a McCain primary sign in the yard. I expect to see it lighted soon… Just to let folks know where they are.
RalphyBoy on March 11, 2009 at 8:17 PM
This is also a recurring theme across America…as everyone who had “hope” realizes that their obsession w/ putting a black POTUS in office at all costs wasn’t worth it, and that they were hoodwinked by “hope”.
Silly racists, tricks are for kids.
bluelightbrigade on March 11, 2009 at 8:18 PM
I swear, the never-changing look on Geithner’s face absolutely DEFINES deer-in-the-headlights.
Like an overzealous borrower’s house, Timmy’s underwater and sinking fast!
Sweet_Thang on March 11, 2009 at 8:24 PM
But is that a bad thing? Just pass him through all four years, I’d hate for him to be left back and have to repeat his presidency.
malclave on March 11, 2009 at 8:25 PM
Doogie Houser, Treasury Secretary
kens on March 11, 2009 at 8:25 PM
LOL. Along those lines, let’s skip him ahead and present him with his diploma, today. He was so good that he finished a whole two-term Precedency in just 2 months!
progressoverpeace on March 11, 2009 at 8:30 PM
Can we put the Office of the President-Elect back in charge? Things ran much smoother then.
exception on March 11, 2009 at 8:30 PM
But…but…Obama said almost all economists supported his stimulus package…I mean, he said it! Why isn’t it true?!
/sarcastic faux confusion off
CP on March 11, 2009 at 8:36 PM
It seems Obama the Great and his Wonderkid Geithner can’t even find people that aren’t corrupt that want to join them in destroying the economy. I think a lot of people are starting to remove the veil from their eyes and are seeing Obama for what he really is and don’t want to ruin their reputations if they are clean by attaching themselves to him.
goat on March 11, 2009 at 8:37 PM
Ready on Day
One!One Hundred.One Thousand?SuperCool on March 11, 2009 at 8:38 PM
\
Yeah, but only if you check their “profits to earnings ratio” first.
Chuck Schick on March 11, 2009 at 8:39 PM
Oh dear oh my.
I sure hope they didn’t actually use an F on the report card.
That would be insensitive.
They (the economists) should have carefully parsed their words in a way that wouldn’t reflect too poorly on Obama and Vundertimmy.
They should have worded their positions in a way that wouldn’t twisted or misconstrued by the Left.
To be so blunt, oh dear oh my. Well that just isn’t fashionable today.
No, no, indeed no. They should have consulted some RINOs to re-word this in a way that watered down the message, that ensured no feelings would be hurt, and that no cocktail party invites would be rescinded.
Montana on March 11, 2009 at 8:43 PM
That’s only for the first 50 days!!
I guess we will all see just how low Captain zeros can go!
christene on March 11, 2009 at 8:44 PM
Well it took them long enough…
petunia on March 11, 2009 at 8:48 PM
That actually does seem like punishment for not paying his taxes… But why do we all have to suffer detention with him?
petunia on March 11, 2009 at 8:52 PM
Don’t be too nice to The Precedent. It was “profit AND earnings ratio”. The idiot messiah wasn’t very good at mathematical word problems, evidently. ‘Clueless’ doesn’t even begin to describe the guy.
progressoverpeace on March 11, 2009 at 8:53 PM
Those two clowns should take a failing grade as a compliment.
My grade would be unprintable.
GarandFan on March 11, 2009 at 8:54 PM
SURE GLAD BUSH IS OUT OF OFFICE!!
jimmy the notable on March 11, 2009 at 8:54 PM
My guess is, Barry Soetero has never received anything lower than an A in his entire life.
james23 on March 11, 2009 at 8:58 PM
So much material for the late night comedians and do they use it? Nope. We’ve got Dumb and Dumber leading us during tough economic times.
jdflorida on March 11, 2009 at 9:00 PM
I never noticed how short Timmie is. He’s in Bob Reich territory. What the hell is up with that? Are there no normal sized men in the libDem rolodex anymore?
angryed on March 11, 2009 at 9:00 PM
MB4 on March 11, 2009 at 8:05 PM
Good one…
Keemo on March 11, 2009 at 9:01 PM
No bias there.
getalife on March 11, 2009 at 9:15 PM
So, the man who today informed us that earmarks are/were/will-be sorta/kinda/not-really/good/bad things from the past era that will bring change to the new era is getting a failing grade?
Upstater85 on March 11, 2009 at 9:18 PM
Well, we don’t know; however, I doubt community organizers need to graduate summa cum laude to qualify for the job.
Upstater85 on March 11, 2009 at 9:20 PM
Leno and Argus Hamilton have started taking some shots at them.
goat on March 11, 2009 at 9:20 PM
Obama is too
bigunfunny to fail. Libs have no sense of humor for this stuff. I posted the Urkle picture at work from Michelle’s site. Some of the other teachers had a cow. No funny bones in lib bodies.Mojave Mark on March 11, 2009 at 9:24 PM
CABLE NEWS RACE
TUES., MARCH 10, 2009
FOXNEWS O’REILLY 3,212,000
FOXNEWS HANNITY 2,376,000
FOXNEWS BECK 2,331,000
FOXNEWS BAIER 2,274,000
FOXNEWS SHEP 2,044,000
FOXNEWS GRETA 1,965,000
CNN COOPER 1,214,000
CNN KING 1,185,000
MSNBC MADDOW 1,041,000
CNNHN GRACE 986,000
MSNBC OLBERMANN 928,000
There is some signs of justice… Ass wipe’s on the bottom as all bottom dwellers should be.
Keemo on March 11, 2009 at 9:29 PM
And that’s frankly odd, since interventionism increases the demand for economists. The free-market economists are actually arguing counter to their class interests.
DrSteve on March 11, 2009 at 9:39 PM
From the WSJ Article:
So, 43% said the U.S. will need another stimulus package; therefore, 43% of the Economists surveyed and statists nimrods. These are probably the same Economists that are “surprised” when each new economic figure comes out.
And, I am guessing they do not ask Dr. Walter E. Williams in this survey. I will take his opinions over any group that includes the 43% in this survey.
WashJeff on March 11, 2009 at 9:43 PM
This is proof that Obama recognizes INCOMPETENCE when he sees it.
Cybergeezer on March 11, 2009 at 9:46 PM
Geithner always looks mortified. He’s terrified and the markests know it.
Most overrated geek, evah. Obama is stupid for having built him up. The Sanate is to blame for voting for his confirmation in spite of the obvious crook and nitwit that he is.
Entelechy on March 11, 2009 at 9:55 PM
Well, the Dow losing half of its value is sure CHANGE.
I dread what the HOPE part of the O-quation will bring.
B. Hussein, Caliph of Clucks.
profitsbeard on March 11, 2009 at 9:58 PM
I remarked to some people a bit ago that it would be nice if Obama’s administration could at least rise to the incompetence level of J. Carter’s.
This was intended as sarcastic humor, now it’s become a fervent wish.
Scary.
irongrampa on March 11, 2009 at 10:23 PM
1 in 6 chance sounds like Russian roulette to me.
chunderroad on March 11, 2009 at 10:26 PM
Hey, at least it’s an F+
Way to go!
Grafted on March 11, 2009 at 10:38 PM
Relax. He was the editor of the Harvard Law Review.
ddrintn on March 11, 2009 at 10:59 PM
Obama, Obama, Obama.
Johan Klaus on March 11, 2009 at 11:01 PM
so he gets to load that gun fellas…
sven10077 on March 11, 2009 at 11:01 PM
Oboma’s recession is getting worse and people are starting to see through his excuses and lies.
Johan Klaus on March 11, 2009 at 11:03 PM
LOL…that liberalism sells like hotcakes, doesn’t it?
ddrintn on March 11, 2009 at 11:04 PM
Dang. WSJ’s been more busy than usual lately. Always good to have them on our side, though.
Achilles on March 11, 2009 at 11:31 PM
WashJeff on March 11, 2009 at 9:43 PM
I’ll take Walter Williams and Thomas Sowell over Obama any day and they sorta look like him. I know, Raaacccciiissst.
goat on March 11, 2009 at 11:37 PM
From what I have read and heard from Carol Liebau, who worked with him on the HLR , he sat on his hands there too
goat on March 11, 2009 at 11:40 PM
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