Obama gets a low grade from Wall Street economists

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Midway thru Pres. Barack Obama’s post-election 100-day honeymoon period is an erosion of popularity. In spite of his “heroic” effort in trying to steer the US to the “right “ track, the new president gets a failing grade of 59% from majority of 49 Wall Street economists polled. According to the Wall Street Journal Survey, financial thinkers are dissatisfied with Obama’s economic policy. The Dow Jones fell close to ¼ of its value at the 7 weeks of his administration.

Treasury secretary Timothy Geithner who assumed his position in the Obama cabinet in spite of evading to pay taxes has a poor grade of 51%, while Federal Reserve Chairman Ben Bernanke scored better, with an average 71.

The changing result augurs badly for Obama who has enjoyed extraordinary popularity before and after the election. The high expectation is there, but he is tumbling down from the sky putting down his public approval to about 60%—quickly in just a few days. Considering the media’s slobbering love and public admiration for Obama, the downward trend of his approval rating is unexpected.

It’s a concern that Americans who disaprove of his policies are rising. The trend is a significant negative twist on how the public perceives his performance even if he was heralded as the hero who’ll deliver America and the world from economic woes. There is strong doubt if Americans can spend their way from bankruptcy by borrowing at the expense of current tax-payers and the next generation.(Photo Credit: tsevis) =0=

RELATED BLOG: “Fearless economic forecasts” Posted by mesiamd at 3/11/2009

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