Economists fail Obama

[Kratos]

http://news.aol.com/main/obama-presi...economy/380586

Economists Give Obama Low MarksReuters
posted: 1 HOUR 53 MINUTES AGOcomments: 2754filed under: Political News, The Obama PresidencyPrintShareText SizeAAA(March 12) – President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the world's largest economy, according to participants in the latest Wall Street Journal forecasting survey.
A majority of the 49 economists polled said they were dissatisfied with the administration's economic policies, according to the paper, a stark contrast to Obama's popularity ratings with the general public.
On average, the economists gave the president a grade of 59 out of 100, and although there was a broad range of marks, 42 percent of respondents rated Obama below 60, the paper said.
Geithner received an average grade of 51, while Federal Reserve Chairman Ben Bernanke scored better, with an average 71, the paper said.
On average, the economists now expect the economic downturn to end in October, according to the paper. In the previous survey, they had expected the bottom would arrive in August.
The economists' main criticism of the Obama team centered on delays in enacting key parts of plans to rescue banks, the paper said.
The economists' negative ratings mark a turnaround in opinion, the paper said. In December, before Obama took office, three-quarters of respondents said the incoming administration's economic team was better than the departing team under former President George W. Bush.
Geithner's latest marks are lower than the average grade of 57 that former Treasury Secretary Henry Paulson received in January, the paper said.
"We have taken an unprecedented level of action toward economic recovery, accomplishing in weeks what took other countries years to do," the paper cited Treasury spokesman Isaac Baker as saying.
"While Wall Street and investors were disappointed when they didn't get a sweeping bank bailout, we've laid out a plan to stabilize the financial system while protecting the taxpayer and ensuring government funds are spent wisely," Baker said, according to the paper.
"This crisis was years in the making, and it will take time to solve."

[eliteforce]

The only way to fix the US economy in the long run is to slash military spending and end both wars now.. endless war is whats causing this..

[j4ever41]

The only way to fix the US economy in the long run is to slash military spending and end both wars now.. endless war is whats causing this..

uh ok

[D7M]

The only way to fix the US economy in the long run is to slash military spending and end both wars now.. endless war is whats causing this..

it's true we spent too much on the war,

but people seem to overlook that within two months of office Obama spent more than Bush administration did in 4 years.

[eliteforce]

Your talking about 'stimulus' money and bailouts, bailouts of companies that are so big that not saving them is catastrophe in itself.. that's way after the fact that in 01-now the government in the US relaxed oversight and regulation in order to spur the economy into performing at an unnatural accelerated rate, allowing the government to pay for some of the reckless spending on war and other programs to keep everyone happy.. in 2003 after the US invasion or Iraq you had quarters of 8% gdp growth in the US, a developed country with an older population .. this was artificial growth (8% growth is for Eastern Europe or some undeveloped country, when it's happening in the US, somethings up.. now we've got the thing snapping back like a stretched rubber band and the US hoping to recover to 1% growth for the next decade after piling much more debt .. spending at these levels can't be sustained and the fastest way to cut spending is to X the wars first..followed by more reductions in optional spending.

[BuffedGuy]

The only way to fix the US economy in the long run is to slash military spending and end both wars now.. endless war is whats causing this..

Word. As Dr. Ron Paul pushes: the entire American imperial empire should be dismantled, which would save TRILLIONS of dollars.