Economy can’t get on track without Congress and President
Economy can’t get on track without Congress and President on same page
What is the new sustainable economic model for the USA? How will the public and private partnership come together to shape it?
First, it takes leadership backed by voter mandate. An Obama landslide would provide evidence of the mandate.
Second, it takes a Congress engaged with the President to enact new plans, policies, and budget, though this is a product of public and private partnership.
Third, the private and public partnership is forged when business and industry leaders collaborate to shape and implement the new model.
It will consume all of the next presidential term and Congressional cycle to address this. Furthermore, it will be the 2016 President who will come to bat to drive it home.
So, the ball is in the voters’ court, now. We need to press the president and presidential candidates for the details about how they envision a sustainable economic model.
“Obama in Poll Winning More Americans Than Not Asserting They’re Better Off
By Mike Dorning on March 13, 2012
The U.S. public’s economic outlook is turning from fear to hope with the presidential election campaign under way.
More than twice as many Americans view the economy’s prospects as brightening as see them darkening, a reversal from nine months ago, when more people expected deterioration ahead, according to a Bloomberg National Poll conducted March 8-11.
“It’s starting to get better,” says survey respondent Kelsey Simeon, 21, a mechanical-engineering student at California State University, Sacramento, in a follow-up interview. “Strip malls that were empty are starting to fill up. Everyone’s going out to eat more. People are spending more money on non-necessities: clothes and iPods.”
More Americans now say they are personally better off since President Barack Obama took office than worse off, the first favorable reading for the president on that question since Bloomberg began asking in December 2010.
Thirty-eight percent say they are better off while 36 percent say they’re worse off. In September, the last time that question was asked, only 27 percent said they were better off and 44 percent said worse off.
While Republicans attack Obama over rising gasoline prices, Americans don’t primarily blame the White House. Sixty-six percent place more responsibility on oil companies and Middle East nations taking advantage of tensions with Iran. Only 23 percent say the White House is more at fault. Even Republicans put more blame on oil companies and Mideast governments, 49 percent compared to 45 percent who point at the administration.
Still Wrong Track
The sour public mood of recent years about the country’s general path also has eased somewhat: 31 percent say the U.S. is headed in the right direction, the most in a year and a half and an 11-point uptick since last September.
Americans are still far from content, with 61 percent saying the U.S. is moving in the wrong direction. That reading is about the same as in October 2010, the month before Republicans rode a wave of discontent to take control of the U.S. House from the Democrats in congressional elections.
Wariness dominates feelings about the economy. Asked their view, 45 percent say they are cautious, 37 percent hopeful and 17 percent fearful. Last June, 51 percent responded cautious, 23 percent hopeful and 25 percent fearful.
Optimism in Suburbs
Economic hope is more pronounced among suburban residents, 41 percent, and non-whites, 46 percent. An optimistic outlook is less common among married women with children, with 31 percent saying they’re hopeful; men without college degrees, 32 percent; and households with children under 18, 32 percent.
The elderly have the most positive economic outlook and the young the least, with 44 percent of Americans age 65 and older seeing signs of improvement versus 31 percent of those under 35. Attitudes toward the economy also closely track political views, with 68 percent of Democrats hopeful, along with 29 percent of independents and 19 percent of Republicans.
The economy strengthened late last year as growth accelerated from a 1.3 percent annual pace in the second quarter to 3 percent in the final three months of the year. Unemployment has dropped in five of the past six months, to 8.3 percent in February from 9.1 percent last August. The benchmark Standard & Poor’s 500 (SPX) stock index is up more than 9 percent this year.
The Bloomberg Consumer Comfort Index (COMFCOMF) for the week ended March 4, its most recent reading, hit a four-year high. For a fifth straight week, half of those surveyed also rated their personal finances as positive.
In the Bloomberg poll, readings on the economy and country are divided along racial, as well as partisan, lines.
The racial gulf over economic progress during the Obama presidency is deep. More whites say their personal situation has deteriorated than improved, by 42 percent to 30 percent. Among non-whites, 55 percent say they are better off and only 23 percent say their situation is worse.
Even so, employment opportunities have rebounded more for whites than other groups. Unemployment for whites was 7.3 percent in February, down from a peak of 9.3 percent in October 2009 and 7.1 percent when Obama took office. Unemployment for blacks was 14.1 percent in February. The nation’s 8.3 percent unemployment rate in February compares with 10 percent in October 2009 and 7.8 percent at Obama’s inauguration.”