Gallup: Obama loses three points overnight, economic confidence plunges to 2-year low
posted at 2:45 pm on August 9, 2011 by Ed Morrissey
Gallup delivers two blasts at the Obama administration today for its handling of the economy. The first comes in its daily tracking poll, which reacted rather badly to Barack Obama’s speech from the White House yesterday. His approval rating dropped three points to its previous low of 40% after only one cycle of polling. Disapproval rose back to 50%, up two points from the day before. That sharp drop could amplify over the next couple of days, especially considering the beating Obama is taking across the political spectrum for his ill-considered rehash of an address. It’s possible that we will see Obama drop below 40% for the first time ever as Saturday and Sunday responses roll out of the survey data.
In not unrelated news, economic confidence plunged to its lowest level since shortly after Obama took office:
Americans’ economic confidence plunged to -53 in the week ending Aug. 7, a level not seen since the recession days of March 2009. This deterioration coincided with the final wrangling over the U.S. debt ceiling and Standard and Poor’s downgrade of the United States’ debt rating. Economic confidence is now far worse than the -43 of two weeks ago and the -34 of a month ago.
U.S. economic confidence deteriorated even faster in July and the first week of August than it did in June compared with May. This plunge in confidence contrasts with the relatively flat trend in 2010. It also places consumer perceptions of the economy in the range of March 2009 during the recession. Gallup’s Economic Confidence Index hit its recession/financial crisis weekly low of -65 — just 12 points worse than now — during the week of Oct. 6-12, 2008.
Gallup’s Economic Confidence Index combines two measures: one assessing Americans’ views about whether the U.S. economy is “getting better” or “getting worse,” and the second involving Americans’ ratings of current economic conditions as “excellent,” “good,” “only fair,” or “poor.” The Index’s inception was in January 2008. Both weekly ratings are at their lows since early 2009.
Given these numbers, Obama’s boast that “we will always be a AAA country” probably fell on disbelieving ears. Americans do not see much reason for optimism, as it becomes clear that the “recovery” was mainly the impact of short-term policy gimmickry and not sustainable growth. After listening to Obama’s speech yesterday, with his call to build more roads, bridges, and airports, Americans can deduce that Obama doesn’t have anything else but more gimmickry to offer.
This seems like a good point to recall the words of the Democratic Party’s national chair, Debbie Wasserman Schultz, who tried telling Americans last week (and two months earlier, too) to just believe the White House and stop paying attention to their own lying eyes. Like Obama, Debbie Downer seems to lack a Plan B in the face of adversity:
How can anyone have confidence in an administration and a political party that refuses to acknowledge reality? If they’re still running with a “Happy Days Are Here Again” theme by next summer, the elections might be a bloodbath for Democrats.
Blowback
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40% has been set as an artificial threshold below which the pollsters are afraid to go, because that is President George W. Bush territory. They will fiddle with the mix and the weighting as much as necessary to keep it at 40% or above, even Rasmussen.
slickwillie2001 on August 9, 2011 at 2:47 PM
Ta-da! All hail the Peas Prize Laureate… sooper genius.
beatcanvas on August 9, 2011 at 2:48 PM
Good, at least people are figuring out the root cause of the Obama Recession.
NMRN123 on August 9, 2011 at 2:50 PM
I don’t think they have to fiddle with it that much.
Blacks, the hard left, and certain other groups will represent Obama’s bedrock support. That’s probably 30-35% right there.
If he starts losing those groups, then it’s going to be a long slog to 2012. He’ll know he’s a Debt Man Walking and his supporters will know they’re about to get absolutely spanked.
teke184 on August 9, 2011 at 2:50 PM
Thank you President O’bama.
crr6 on May 1, 2011 at 10:45 PM
Del Dolemonte on August 9, 2011 at 2:51 PM
Unprecedented. He’s never fallen below 40% in any major poll. That would be a pretty symbolic moment in his Presidency, and not in a good way.
Doughboy on August 9, 2011 at 2:52 PM
I can’t believe 40% of people approve of Obama. Whenever I overhear conversations about him, they are always negative, across all age/economic groups and getting louder.
HellCat on August 9, 2011 at 2:53 PM
Doesn’t matter. The pollsters absolutely cannot hide the fact that their own polling shows that it took Bush nearly 6 years in office to get to 40%.
O’bama did it in just 30 months. Is that Cool, or what?
Del Dolemonte on August 9, 2011 at 2:54 PM
We also heard the same kind bovine excrement claims on Obamacare.
NMRN123 on August 9, 2011 at 2:54 PM
FOUR MORE YEARS!
FOUR MORE YEARS!
FOUR MORE YEARS!
Tony737 on August 9, 2011 at 2:55 PM
Proving over and over, that these elitist Dems think everyone is so beneath them in intelligence, we’ll just lap up whatever they put in the water bowl.
What amazes me more, is the dumb fools who come here, STILL not seeing that they’re merely pawns, and continue to lap up from that water bowl.
capejasmine on August 9, 2011 at 2:55 PM
Dow down -60 1 hour before close
ConservativePartyNow on August 9, 2011 at 2:56 PM
If Obama somehow wins, we are really in trouble. Can you imagine an Obama who isn’t running for re-election. He will implement every liberal dream policy through agency rules and regulations–and we will really suffer for the next 20 years…God Help us…
RedSoxNation on August 9, 2011 at 2:56 PM
faster, please.
faraway on August 9, 2011 at 2:57 PM
I’d say Obama is lucky we don’t have London-istan like riots in the streets of DC and NYC at the moment.
E L Frederick (Sniper One) on August 9, 2011 at 2:57 PM
A few more speeches might bring him below 40.
faraway on August 9, 2011 at 2:57 PM
A sitting President in the low-to-mid 40′s on election day will absolutely not be re-elected.
Bat Chain Puller on August 9, 2011 at 2:58 PM
Let’s stop beating around the bush . . . neither Barry or Debbie have a freaking clue. They’re both lost in a thick fog without a compass.
rplat on August 9, 2011 at 2:59 PM
Same here. All my business associates can’t wait for the next 16 months to be over so we can get some relief by throwing this communist bastard out of the White House.
txsurveyor on August 9, 2011 at 2:59 PM
Does anyone think Obama cares about his numbers? I mean, other than his fundraising that is.
search4truth on August 9, 2011 at 2:59 PM
And count on Unions and ACORN to help him achieve that goal.
capejasmine on August 9, 2011 at 3:01 PM
Being a Democrat/Liberal/Progressive/Socialist means never having to face painful emotional reality.
VibrioCocci on August 9, 2011 at 3:01 PM
Is all this why mo and family, without bho, snucked out of dc on a vacation? Out spending taxpayers money again with all that is happening here! When will bho get on AF1 and get outta dc for vacation?
http://www.whitehousedossier.com/2011/08/09/michelle-obama-takes-secret-vacation-oregon/
L
letget on August 9, 2011 at 3:01 PM
Hey, Barry! How they hangin’. Just wanted to see if you took my advice and used the Be-Gay. Yesterday you got the living crap beat out of you by a girl. Now the tide is turning against you.
What say you, champ? Care to give another speech? We can do a double screen with the stock market.
Come on, it’ll be fun.
katy the mean old lady on August 9, 2011 at 3:01 PM
I believe that 40% of this country approve of Obama’s handling of the economy just as much as I believe that only 9.1% of this country is unemployed.
Mord on August 9, 2011 at 3:02 PM
How can anyone have confidence in an administration and a political party that refuses to acknowledge reality?
++++++++++++++++++++++++++++
Reality would mean they would have to acknowledge their little experiment in National Socialism didn’t work.
Reality would mean they would have to acknowledge that demonizing an punishing achievement only serves to inhibit economic growth.
Reality would mean they would have to acknowledge that the same logic that taxes on cigarettes and fatty foods discourage these things also applies to income and capital gains taxes.
For the Democrats, Reality Bites big time.
NMRN123 on August 9, 2011 at 3:02 PM
Hear, Hear!!
ConservativePartyNow on August 9, 2011 at 3:05 PM
Christina Romer may have been referring to Øbama as well as the economy when she said on Bill Maher’s show:
“We’re pretty darned f&$%@d.“
VibrioCocci on August 9, 2011 at 3:05 PM
I find these numbers hard to believe, but I understand what’s underneath them.
Leftists and Left-leaners, at their core, are horrendously envious of “the rich” and/or they just HATE Republicans. They’ll approve of any president (especially a minority president).
This guy is the disaster we knew he would be. His administration is filled with incompetents and his economic theories are old school Marxist ideas that have never worked anywhere. His only hope for reelection is stirring up hate and fear for the GOP/Tea Party.
mankai on August 9, 2011 at 3:07 PM
When it gets below 35% will be the real news. It’ll never happen, though.
SouthernGent on August 9, 2011 at 3:08 PM
Don’t worry, everyone. crr6 has just declared that what’s going on now is a “market rally”!
logis on August 9, 2011 at 3:08 PM
“No matter what some polling group says, my ratings will always be 52%”
faraway on August 9, 2011 at 3:09 PM
This guy is the disaster we knew he would be. His administration is filled with incompetents and his economic theories are old school Marxist ideas that have never worked anywhere. His only hope for reelection is stirring up hate and fear for the GOP/Tea Party.
mankai on August 9, 2011 at 3:07 PM
++++++++++++++++++++++++++
Did anyone think that the rein of Comrade Obama would be this Bad?
NMRN123 on August 9, 2011 at 3:10 PM
I got a good laugh from the still picture with sharpton, dws and a logo that says “facts matter”.
You can’t make that up!
Mangy Scot on August 9, 2011 at 3:10 PM
He’s not going to be successful at it because people are seeing straight through his bull$hit.
People may have bought the “It’s all Bush’s fault!” line in 2008 when things were down, but they’re not buying the “I need another 4 years because of the EVUL~! GOP / Tea Party line when things are demonstrably worse than they were 4 years ago.
teke184 on August 9, 2011 at 3:11 PM
Abso-freaking-lutely correct!
carbon_footprint on August 9, 2011 at 3:11 PM
What I find more interesting is that, using syndicalist -socialist policies, Benito Mussolini took Italy from the second strongest economy in Europe after WW 1 (with the UK being in the best shape) to only marginally better than Albania (the traditional “back marker”) in 22 years, from his first election in 1921 to his toppling by his own cabinet in 1943 (as much on economic grounds as due to his military adventures and dreams of Fascist glory).
Obama, by comparison, has managed to do virtually the same level of damage to the U.S. economy, also using syndicalist-socialist policies, in roughly the same number of months.
It takes a genuine talent for sheer economic idiocy to repeat Il Duce’s performance, in a much larger economy, and do it on fast-forward.
clear ether
eon
eon on August 9, 2011 at 3:12 PM
Well, a bunch of Ron Paul supporters have already said they’re sitting out the 2012 election if their old geezer isn’t the Republican nominee.
And remember that a full 33% of Americans old enough to vote stayed home in 2008, many of them doing so “to teach the Republicans a lesson”. Look how that turned out.
Del Dolemonte on August 9, 2011 at 3:13 PM
I think this is true. Anything below 40%, and we get into “America just wasn’t ready for a black president” territory, and I think the pollsters are terrified of being the reason for that BS conversation. Still, I’d love to see just one pollster do a poll with the demographic breakdown mirroring what Gallup has found for at least the last 3 years: 41% identify as conservative or very conservative; 36% identify as moderate; 21% identify as liberal or very liberal. Imagine what Obama’s approval rating would be with the demographics broken out like that!
Rational Thought on August 9, 2011 at 3:13 PM
No QE3?
Can someone explain how the Fed intends to keep interest rates down without a fresh round of bond buying and money printing?
There is an election coming up; no way will they resist the temptation to turn on the juice again.
rickyricardo on August 9, 2011 at 3:13 PM
“But O’bama gradiated from Harvard Law!”
/crr6
Del Dolemonte on August 9, 2011 at 3:14 PM
Its like Obama drove us into a ditch of something and now he has to ride in the back seat of his cash for clunkers Prius with gas over $4.00 a gallon.
Dear Barry, never bring a spork to a gun-fight. You can put lipstick on PORKULUS, its still a gubmint pig; SEIU SEIU.
Oh and where are your chickens? Coming home to roost? Or are they sh!tting Acorns. Got any SEIU purple goon shirts to pass out? How about some lab coats for your fake death panel experts masquerading as doctors?
Hey you could always go Astro-turf on twitter. That worked out well didn’t it. And now blame the Tea Party, that will give us good cause the turn up the heat.
Now your Barackalips are turning another shade of The Color Purple. What’s wrong? At least Oprah still loves you. Too bad she only has one vote.
Geochelone on August 9, 2011 at 3:14 PM
This makes me feel like dancing. Everybody Limbo!
Naturally Curly on August 9, 2011 at 3:15 PM
COME ON 30s!!!
KeepOhioRed on August 9, 2011 at 3:17 PM
It doesn’t appear right now that Obama is doing so bad.
In new polling today at Gallup, Obama beats Generic Republican 45%-39%. That’s a turnaround from a month ago.
In new polling at CNN, disapproval of Republicans has gone up 10% and I think Dems now hold a 14% advantage.
Even Rasmussen doesn’t look good with Reps only leading by 2% on the Generic ballot and 29% of likely voters saying that the Tea Party are economic terrorists.
The RNC is apparently useless or hamstrung. Where is the messaging that explains only 66 Reps voted against the debt deal while 95 dems (50% of their membership) voted against it. Who are the real terrorists?
Greyledge Gal on August 9, 2011 at 3:18 PM
The question I have is if Il Douche gets to repeat the original’s farewell performance.
teke184 on August 9, 2011 at 3:18 PM
They haven’t been dealing with reality since day one. Just ask Nancy Pelosi. As for Harry Reid, the less said, the better.
GarandFan on August 9, 2011 at 3:21 PM
I’m thinking they’ll be using a somewhat more sinister strategy, but one word in there will probably apply.
hillbillyjim on August 9, 2011 at 3:21 PM
13% – blacks
10% – union
15% – welfare recipient
10% – govt employees
5% – insane people
There is cross over between each of the groups. But add it up and that’s the 40% that will support Obama no matter what.
angryed on August 9, 2011 at 3:21 PM
More like a “debt” cat bounce…
karl9000 on August 9, 2011 at 3:21 PM
New word:
NMRN123 on August 9, 2011 at 3:22 PM
I’m still waiting to see when one of the hardcore Communist moonbats who constantly call Republicans “Fascists” will finally figure out that Obama co-opted more businesses, in a shorter amount of time, than Hitler and Mussolini combined ever did in their wildest dreams.
Like I said: still waiting….
logis on August 9, 2011 at 3:24 PM
It doesn’t appear right now that Obama is doing so bad.
Greyledge Gal on August 9, 2011 at 3:18 PM
++++++++++++++++++++++++++++++++++++
Are you heavily medicated or just naturally delusional?
NMRN123 on August 9, 2011 at 3:25 PM
Listen to this articulate gem of comedy gold:
hillbillyjim on August 9, 2011 at 3:25 PM
Both is my bet.
Mangy Scot on August 9, 2011 at 3:28 PM
Dr Evil on August 9, 2011 at 3:29 PM
Solid B+…
rcpjr on August 9, 2011 at 3:30 PM
Well, first of all, that is a CNN “Poll”; they never have divulged how they make up their polling samples, unlike all of the other pollsters. In 2007 they tossed their longtime polling partner (Gallup) over the side, and replaced them with a Clinton Groupie and longtime Clinton donor named Vinod Gupta.
And remember, they did that poll over a weekend. Zogby has admitted in the past that he would also poll on weekends because polls taken then always gave the Democrats better results.
Another important thing to remember is that those “polled” by CNN have been barraged for 2 months by the Democrat Media all telling them how bad the Republicans are, and how great the Democrats are.
Del Dolemonte on August 9, 2011 at 3:32 PM
Stocks Slip after Fed Statement
Dr Evil on August 9, 2011 at 3:32 PM
THREAD WINNER!! I concur a bazillion percent!! NOBODY I know that has a business is supporting PBHO and his added, unpaid mandates. They CAN’T WAIT (and won’t do anything) until he is voted out of office.
Khun Joe on August 9, 2011 at 3:34 PM
CNN over samples Liberals it’s as simple as that. As for who they poll, probably their own employees and MSNBC employees.
Dr Evil on August 9, 2011 at 3:36 PM
Debbie is kinda hawt. Kinda. A rainy Saturday afternoon, nowhere to go, and nuthin’ else to do,…..
a capella on August 9, 2011 at 3:45 PM
Dude.
Opthalmology is a good thing.
hillbillyjim on August 9, 2011 at 3:47 PM
Haha. The mentally challenged has to be an overarching segment as well.
Chuck Schick on August 9, 2011 at 3:48 PM
Progressives Lie?….
….who knew, right?
PappyD61 on August 9, 2011 at 3:51 PM
In Obowma’s Marxist/Socialist Black Liberation Theology ideology…
… things are just peachy!
Seven Percent Solution on August 9, 2011 at 3:55 PM
I know what you’re saying.
angryed on August 9, 2011 at 3:55 PM
And the families of Wolfie Blizter and Hack Cafferty too.
Del Dolemonte on August 9, 2011 at 3:55 PM
He’d hit it.
fossten on August 9, 2011 at 4:01 PM
I made numerous predictions in 2009 on our local blog (after a local lefty declared the recession over and happy times were here again because of the stimulus plan), I got two wrong.
I assumed a minor rebound in Spring 2010 with close to 3% growth, fueled in part by fake stimulus jobs and a loosening of he credit grip that TARP caused. I also thought we’d have a major terrorist attack on US soil in his first 24 months (by February 2011).
I didn’t quite understand how stupid Geitner is and the extent he would go to monetize the debt combined with the enormous strangling of economy via regulation. I’m glad I was wrong on the latter, but I just think he’s been lucky because if not for idiocy on the part of the would-be killers, I’d have been right on that.
Other than those, I think anyone looking at Obamacare and the stimulus plans could see the pain ahead. No way we’d be at the predicted 6.2% unemployment Biden was promising. C4C and the mortgage rebates did exactly as any FIN 101 student could tell you, they merely drew future activity forward (and in the case of C4C, reduced the availability of low-cost used cars, raising prices and hurting parts manufacturers and sellers).
mankai on August 9, 2011 at 4:02 PM
How is your Obama 401(k) plan doing ?
J_Crater on August 9, 2011 at 4:02 PM
Check out this steaming heap from Germany’s Der Spiegel
http://www.spiegel.de/international/spiegel/0,1518,779043,00.html
excerpt:
Gag.
Del Dolemonte on August 9, 2011 at 4:03 PM
“We’ve always been at war with Eastasia”
rayra on August 9, 2011 at 4:20 PM
I never expect much from a country populated by people named “Dieter”.
“Would you like to touch my monkey?”
BobMbx on August 9, 2011 at 4:21 PM
So 47% don’t pay federal income taxes?
You mean he has lost 7% of the moocher voters?
Wow.
ajacksonian on August 9, 2011 at 4:36 PM
just crayons
-gibbsy
cmsinaz on August 9, 2011 at 4:38 PM
A capella must really be desperate…
Steve Z on August 9, 2011 at 4:38 PM
i was going to say….yet
cmsinaz on August 9, 2011 at 4:39 PM
Now now, keep it civil. My paternal grandpa was German!
/
Del Dolemonte on August 9, 2011 at 5:14 PM
Something is terribly, terribly wrong and off with these polls.
betsyz on August 9, 2011 at 5:59 PM
Spoke with a guy a couple of weeks ago that said that Carter’s failed presidency was Ford’s fault.
There are still a lot of people out there willing to believe in the Teh One.
Jvette on August 9, 2011 at 7:13 PM
AmericanDigest.org: the question for the 2012 campaign will be ‘are you better off now than you were a month ago?’
slickwillie2001 on August 9, 2011 at 7:16 PM
I say THIS is leadership NOT what we have now.
http://moonbattery.com/?p=912#comment-7192
I love this guy!
ColdWarrior57 on August 9, 2011 at 8:26 PM
Obama is a freakin disaster. Smartest President ever? He is probably the dumbest President America has ever had. Compared to Thomas Jefferson he is as an amoeba.
Lon Chaney on August 9, 2011 at 9:05 PM