Obama – a worrisome approval rating By Prieur du Plessis, on January 29th, 2010 posted in: Investment, Markets, Money  Following President Obama’s State of the Union address (on which I posted a short piece yesterday), it makes for interesting reading to consider his approval rating against the background of the historical pattern. According to Casey’s Daily Dispatch, a study by political scientist Paul Brace shows the general trend for presidents in their first year is down. However, President Obama’s descent is notably worse than the average, as seen on the chart below. 
Source: Casey’s Daily Dispatch, January 28, 2010. Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail. | Don Coxe’s Weekly WebcastPodcast – Dow Jones One minute - every hour - weekdays
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It looks like Obamarama has turned into a disaster area. His advisors back in the Windy City keep telling him that the fat cat bankers are never going to come on board and to jettison them, but ‘Bama evidently wants to play Harvard lawyer and rub elbows with the big kids. The prez has been asking his DC advisors why he always seems to be on the wrong side of the issues. They have told him that the voters think that he has done nothing but enrich the fat cats with big bonuses and left the workers to fend for themselves. There are also other problems.
Another problem Obama is having is telling the truth. For example, in his speech, the text of which was kindly provided in a link by Prieur, he took a swing at Republicans by suggesting that by their threats to block his health bill was screwing the American people. He claimed that his health care plan would greatly reduce costs for everyone, but, if someone wanted to stay with his current plan, he could do it. Both claims are outright lies. His bill would greatly increase premiums — around 25%, I think — and there would be a penalty fee for customized luxury plans. Moreover, you would not be able to continue with your current plan. It would be cancelled and you would be required to sign up with a government plan. If you didn’t sign up, you would be charged with a penalty fee. It is hard to believe that Obama was totally unaware of what Nancy Pelosi and Harry Reid cooked up, when drafting the bill. If he actually was in the dark, then he is even more disconnected from reality than people think. I mean all this was common knowledge on the internet and was one thing that really upset a lot of people.