Wednesday, June 17, 2009

Polls Show Public Wary of Deficit and Obama's Economic Intervention

Public Wary of Deficit, Economic Intervention -

WASHINGTON -- After a fairly smooth opening, President Barack Obama faces new concerns among the American public about the budget deficit and government intervention in the economy as he works to enact ambitious health and energy legislation, a new Wall Street Journal/NBC News poll finds.
These rising doubts threaten to overshadow the president's personal popularity and his agenda, in what may be a new phase of the Obama presidency.
"The public is really moving from evaluating him as a charismatic and charming leader to his specific handling of the challenges facing the country," says Peter D. Hart, a Democratic pollster who conducts the survey with Republican Bill McInturff. Going forward, he says, Mr. Obama and his allies "are going to have to navigate in pretty choppy waters."

President Barack Obama spending the peoples money.

In an interview with The Wall Street Journal, President Obama acknowledged the toll.
"If you have an argument made frequently enough -- whether it's true or not -- it has some impact," he said Tuesday. "If you want to attack a Democratic president, how are you going to attack him? Well, you're going to talk about how he wants more government and he wants to socialize medicine and he's going to be oppressive towards business. I mean, that's pretty standard fare."I guess the real question is if this is true or not.

President will propose strict new regulation of financial industry. Under the plan the government would have new powers to seize key companies -- such as insurance giant American International Group Inc. -- whose failure jeopardizes the financial system. Currently, the government's authority to seize
companies is mostly limited to banks.

The president said he and supporters of reform have momentum over the "opposition that has used fear tactics to paint any effort to achieve reform as an attempt to socialize medicine." "They’ll give dire warnings about socialized medicine and government takeovers. But the president said the status quo is "unsustainable" for patients, the economy and doctors.

"Make no mistake: the cost of our health care is a threat to our economy," Obama said. "It is an escalating burden on our families and businesses. It is a ticking time-bomb for the federal budget. And it is unsustainable for the United States of America."

So the Government will take it over, so now it's government socialize medicine.

Last, Mr. Obama is proposing to raise taxes on capital gains and dividends by a staggering two-thirds, moving the rate up 10 percentage points to 25%, which could curtail investment and business on Wall Street, a backbone of the city's and state's economy.

Everyone in Britain wishes President Barack Obama well, for our sake as well as America's. Yet Obama's first moves in office do not fill me with confidence. His early weeks remind me of the atmosphere in Britain when New Labour took power. The party inherited a strong economy. But now, after more than a decade of New Labour's being in power, the British economy is in ruins. The chief problem facing British businesses is the maze of oppressive government regulation New Labour has signed into law.

In the meantime, Britain must suffer. My advice to President Obama: Look at what New Labour has done to Britain--and avoid this course at all costs!

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