This morning I was watching some talking head on ABC’s Good Morning America wondering how Obama could have had “one of the best week’s in his presidency” with the passage of the Dodd-Frank “financial reform bill” and yet still have steadily declining approval ratings.
The answer to why Obama’s numbers are dropping in spite of him “doing the things he promised to do” is simple: He’s not doing anything he promised to do. It’s all smoke and mirrors — two things that Obama likes quite a bit. The administration is lying about the “success” of the stimulus, and everybody knows it. Cash for Clunkers did nothing except raise the price of used cars (poor hardest hit). They passed Obamacare and nobody has any health care but many have already started paying for it. They promised to reverse everything Bush did — and they’re not.
As for the Financial Reform Bill that just passed, Democrats are saying this will create new protections for millions of consumers.
First of all, the bill was authored by Barney Frank and Chris Dodd, two of the reasons we’re in such financial trouble right now. Einstein said “you can’t fix a problem with the same mind that created it,” but in Washington, they’ve never heard of Einstein.
Also, where’s the “consumer protection”? Most people have a car loan, making that one of the largest borrowing sections of our economy, but guess what? The entire auto industry is exempt from this bill.
Guess what else is exempt from the regs in Dodd-Frank? The financial black-holes that are Fannie Mae and Freddie Mac.
So for that talking head on ABC this morning, Obama’s numbers keep falling because everybody — from the left to the right — know that, even though it’s being claimed that “change” is taking place, in actuality our problems are being made worse. Smaller businesses that aren’t exempt from the constrictions will pay the freight for those that are, eventually covering another inevitable Fannie and Freddie’s $100 billion-plus bailout, and a totally exempt auto loan industry that has a more powerful lobby than John Q. Public will ever have.
This bill is actually a business-killer, on top of the other business-killers that the Democrats have put forth (i.e. the “green jobs” sham), and most people know it.
The left is realizing they’ve been had, and the right knew it all along, hence Obama’s polling plunge.