Americans' evaluation of the job Congress is doing is the worst Gallup has ever measured, with 13% approving, tying the all-time low measured in December 2010. Disapproval of Congress is at 84%, a percentage point higher than last December's previous high rating.Obama's Approval Rating at 39%
click on chart for sharper image
These results are based on an Aug. 11-14 Gallup poll, which includes the first update on Congress' job approval rating since the government reached agreement on a deal to raise the debt ceiling after contentious and protracted negotiations between President Obama and congressional leaders
Implications
Americans have usually not held Congress in high regard, but currently they have a more negative view of the institution than any other time Gallup has measured. Although Congress agreed to raise the debt ceiling, the issue is far from settled, as a special committee of 12 House and Senate members will work toward an agreement to make significant cuts in federal spending over the next few months to avoid mandatory cuts in defense and entitlement programs.
Though the results of that committee's work are not likely to dramatically transform the way Americans view Congress, they could determine whether the institution's ratings remain in this new lower range or show some improvement.
If Congress' ratings do not improve much before the November 2012 elections, its membership could be in line for another shake-up.
Gallup also reports President Obama's Job Approval Rating has declined in recent days, reaching a low of 39% in Aug. 11-13 Gallup Daily tracking.
click on chart for sharper image
What the Hell Does it take to Get Real Change?
In response to Amazingly Absurd Loan "Guarantee" Arrangement Between Finland and Greece my friend "Fedwatcher" commented ...
"Looks like the Finns need another election. As it was in Iceland, it took two elections to beat the banker politicians over the head with a two by four. The bigger the nation state, the more elections are required. I think Finland needs two more elections. We need four to eight."
Theory of Elections and Overcoming Huge Political Bureaucracies
Adding to Fedwatcher's observation, I propose: �The bigger the nation state, the more elections or global forces it takes to change direction, no matter how misguided current direction is.�
A bond market revolt, global currency crisis, or another major world war might suffice as well.
If the bond market or global currency crisis does not force change in misguided and unsustainable US spending and warmongering (actually I think it will - timing is unknown - but faster than 4 elections), then eventually US citizens may act on their own to stop fighting World War II, to end the US' role as world's policeman and pandering to various special interest groups (only to be replaced by pandering to different special interests of course).
Eventually boomers and those still fighting World War II will be swept under the rug by increasing numbers of Generation X, Y, and Millennials who will have had enough of the "pampered generation", bank bailouts, public unions, wars, global police actions, and other monstrosities.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List
No comments:
Post a Comment