I seem determined to write repetitively about the sins of the Bush years, determined that just moving on without addressing it is a mistake – disagreeing with Obama’s entreaty to look forward. But looking backward hasn’t really caught on – at least not so much as some of us might wish. Actually, what has caught on is looking at right now – and right now ain’t looking so hot. This is the worst and longest dry spell in anyone’s memory:
This next graph is adapted from Robert Shiller’s Irrational Exuberance in 2006 showing how inflated our housing market had become [corrected for inflation] before the "bubble" burst:
The housing market has now tanked. Unemployment has skyrocketed. The national debt soars. We’re still in two expensive wars. It’s been a long two years since the Market crashed on September 16, 2008. So I suppose that it’s naive to ask people on the street to look at how we got into this mess and be patient. They’re looking at the mess we’re in right now. And the solution of the economists – another Stimulus Package – is anti-intuitive [worse than we thought hoped…].
So, from the Washington Post/ABC News poll:
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Among likely voters, 53 percent say they would vote for a generic Republican candidate for Congress this year vs. 40 percent who say they would vote for the generic Democrat on a ballot. That 13-point GOP advantage is the largest in the poll’s history dating back to 1981.
- President Obama scores his lowest approval rating to date: 46 percent approve of the president’s job performance, while a slim majority, 52 percent, disapprove.
- The poll shows a six-point increase since July, from 32 percent to 38 percent, in voters who say the economy is getting worse.
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