August 5, 2011 was a day for the U.S. history books. Our nation’s bond rating was downgraded from AAA to AA+. This was a first for our great nation and it happened on the watch of President Obama.
In April – just about four months ago, Tim Geithner assured the interviewer that a downgrade was not possible. This is the same individual that the president appointed to his current position as treasury secretary and the same individual that had committed some errors with paying his taxes.
When President-elect Obama in January 2009 proposed the stimulus package, he claimed this package was necessary to keep the unemployment rate under 8%. He should have promised 10% and he would have been accurate.
We Americans have little confidence in the current administration and their ability to improve the nation’s economy. I did not vote for President Obama but many who did are now feeling buyer’s remorse. His approval rating is down but is still very high in Washington, DC. I am curious why Connecticut is the No. 1 state that approves of the president’s job. Is it because Connecticut is that liberal or is it because the economic downturn has not been felt as greatly in our state?
If President Obama can be re-elected in 2012, he should surround himself with more credible advisors. Mr. Obama has proven that he is a great campaigner but his record is not strong on the economy and he cannot run on that record. Predictably, his strategy will be to attack his Republican opponent and surround himself with better advisors. I am confident he privately hopes that a third party candidate is on the presidential ticket and splits the independent, conservative, and tea party votes.