The Associated Press polled 36 economists on Obama’s handling of the economy. Half of the 36 rated his economic policies as fair and 13 rated them as poor. Only five economists gave him a “good” rating but no one voted to give him an “excellent” rating. So percentage wise he had 50% of the economists granting him a “fair” rating and 36% gave him a “poor” rating for a whopping 86% mediocre grade. Only 12% thought he was doing a good job. Not good marks for any president!
• a poorly designed stimulus
• too much attention given to health care
• no effort to create jobs
• failure to promote business growth
• high unemployment rate
Interestingly enough, they don’t foresee any significant change with the unemployment rate in 2012. Yet they think the economy will grow by 2.4% next year. The problem with their economic growth prediction is that for the past two years they predicted a growth rate over 2% which never materialized. The economy has limped along under 2%. This lack of growth has forced many major corporations to close down stories and cut back services.
Most of the economists surveyed were from banks and other financial firms, independent consultancies and academia.
Note: Even the President of Obama’s Council on Jobs and Competitiveness, GE President Jeffrey Immelt, has sent American technology and jobs to China. As Democratic Senator Dennis Kucinick pointed out, one-fifth of the American work force has been eliminated since Immelt became the leader of the Council.