Two Years Of Going Nowhere

On February 17, 2009 President Barack Obama signed the American Recovery and Reinvestment Act into law. Two years later Gallup's economic confidence poll shows confidence at -53 to be at about that same level it was at that time. One year after "recovery summer"seventy-seven percent of Americans said the U.S. economy is getting worse. This is up from 71% two weeks prior and 64% a month ago. Fifty-five percent of Americans rated current economic conditions "poor" in the week ending August 7 -- up from 49% two weeks ago. This is 10 percentage points worse than the 45% of a month ago and a year ago.


Forget the political implication of trillions of dollars wasted and focus on what can be done going forward. This country is hurting and there seems to very little this administration is willing to do to help. No raising taxes won't help. The Federal Reserve has so far resisted the urge to further debauch the currency with a Quantitative Easing III policy. Incredibly, almost every liberal commentator thinks Obama should call Congress back into session. Maybe they have something there. If Congress and Obama could agree to undo most of what they have done for the past two years by repealing Obamacare and Dodd-Frank and rule in the rogue EPA which has been warned by the National Academy of Science that it is in danger of becoming scientifically irrelevant that would indeed help. So we must wait until 2013 when a Republican President and a Republican Congress does just that.
Update: A new poll from Reuters finds 73 percent of Americans think the country is going in the wrong direction.