Craptalker-in-Chief

From Andrew Klavan, at Pajamas Media, "ABSOLUTE CRAP!!!"



This one's good for some extra giggles:

'Stop it B!'

Get yo shit together, B!!

That's what I'm talkin' about, mofo!

Obama's Path to Reelection Narrows

Well, thank goodness.



From Ronald Brownstein, at National Journal:

Newly released state-by-state approval numbers for President Obama suggest that in 2012 he could face fewer options for assembling an Electoral College majority and increased pressure to capture racially diverse states. As a result, Colorado, Virginia, North Carolina, and Florida, among others, appear to be evolving into critical battlegrounds on the campaign map.



The polling results, released earlier this week by Gallup, underscore both the stability of each party’s Electoral College base and the shifting roster of swing states that could decide the 2012 contest.



In all, the compilation shows that Obama’s approval rating exceeds his disapproval rating in states with 301 Electoral College votes--well down from his 365 total in 2008 but still enough to win. That total, however, includes North Carolina, where Obama’s approval and disapproval ratings are virtually even, and Georgia, where Republicans remain skeptical that he can seriously compete, despite signals from his reelection campaign that it intends to. If those two are removed from the list, the states in which Obama’s approval number exceeds his disapproval rating provide exactly 270 Electoral College votes, the bare majority needed to win.

Nice.



Image Credit: The People's Cube.

America Gets Downgraded

At Wall Street Journal, "A spend and tax policy mix always leads to economic decline":

... is there anything that S&P said on Friday that everyone else doesn't already know? S&P essentially declared that on present trend the U.S. debt burden is unsustainable, and that the American political system seems unable to reverse that trend.

This is not news.

In that context, the Obama Administration's attempt to discredit S&P only makes the U.S. look worse—like the Europeans who also want to blame the raters for noticing the obvious. Treasury officials and chief White House economic adviser Gene Sperling denounced S&P for relying on a Congressional Budget Office scenario that overestimated the U.S. discretionary spending baseline by $300 billion through 2015 and $2 trillion through 2021.

But even adjusting for that $2 trillion would only reduce U.S. publicly held debt to 85% or so of GDP—still dangerously high. And that assumes that recently agreed upon spending caps are sustained over a decade, something which rarely happens.

We think the larger problem with S&P, Moody's and Fitch is that they make no distinction over how a nation balances its books—whether through tax increases or spending reductions. Like the International Monetary Fund, the raters care only about balance.

This takes too little account of the need for faster economic growth, which is the only real path out of a debt crisis. Britain's government has earned rater approval for its fiscal consolidation, but its increases in VAT and income tax rates are hurting its tepid recovery. Letting the credit raters dictate tax increases is the road to an austerity trap.

The real reason for White House fury at S&P is that it realizes how symbolically damaging this downgrade is to President Obama's economic record. Democrats can rail all they want about the tea party, but Republicans have controlled the House for a mere seven months. The entire GOP emphasis in those seven months—backed by the tea party—has been on reversing the historic spending damage of Mr. Obama's first two years.

Continue reading.

IMAGE CREDIT: The Astute Bloggers.

Obama's One Term Presidency

I wrote yesterday morning that things were "not looking good for Obama and the Democrats." The thought came to me in a flash as I looked over the economic news. If Barack Obama's anything, it's a good campaigner, and hence I've been reluctant to bet against his reelection. But with folks talking about a double dip recession, and with unemployment likely to remain high regardless of economic growth rates, I think the GOP's chances are looking better than ever. Barack Obama will be a one-term president, I'm confident. And apparently, so are others, or at least there's some pessimism in the MSM that I don't recall seeing. At Politico, for example, "Obama's big drags":

The politics of the debt fight were a drag for President Barack Obama, yanking his popularity to new lows. Here’s an even bigger drag: Obama emerges from the months-long fracas weaker — and facing much deeper and more durable political obstacles — than his own advisers ever imagined.

The consensus has been that for all his problems, Obama is so skilled a politician — and the eventual GOP nominee so flawed or hapless — that he’d most likely be reelected.

Don’t buy into it.

This breezy certitude fails to reckon with how weak his fundamentals are a year out from the general election. Gallup pegs his approval rating at a discouraging 42 percent, with his standing among independents falling 9 points in four weeks.

His economic stats are even worse. The nation has 2.5 million fewer jobs today than the day Obama took office, a fact you’re sure to hear the Republicans repeat. Consumer confidence is scraping levels not seen since March 2009.

Where’s the bright spot? Hard to see. Obama has few, if any, domestic achievements that enjoy broad public support. No one assumes employment, growth or housing prices to pick up much, if at all — something Obama is essentially powerless to change. And the political environment and electoral map are significantly tougher than in 2008, especially in true up-for-grabs states.

It's long piece. Continue at the link.

RELATED: FWIW, see Andrew Hacker at New York Review, "The Next Election: The Surprising Reality." According to Hacker, "Although it is never openly stated, there are Americans who don’t want to be governed by a black man." (Racism, wouldn't you know?) Beyond that (as part of a book review), Hacker's main argument is about turnout: Obama's toast if he can't generate the kind of voter (and youth) enthusiasm that propelled him to victory in 2008. And if that's the case, I'm even more confident Obama's a one-termer. ("Hope & Change hasn't been all that great for young folks.)