Dan Kennedy

How much havoc can Obama wreak before our buyers’ remorse catches up with him?

“The audacity of speed.” Maybe it’s been used before, but the first time I heard the phrase was from Fortune’s Nina Easton on the June 21 “Meet the Press” It’s a very good description of The Obama Express. It offers little hope of anything but a huge crash. And ever so slowly, the public may be awakening to that reality.

We all know about “buyer’s remorse.” When you buy something, perhaps on impulse, without careful and objective analysis, you eventually come out of the euphoria of the moment and actually begin trying to use the product, and its flaws become apparent. You then regret buying it. Sometimes the disparity between what you thought you were getting and what you realize you actually have on your hands is so great you feel like a fool, embarrassed and ashamed by your gullibility. Savvy marketers try to prevent buyer’s remorse by delivering a product that closely matches its advertising promises, and by managing the customer’s expectations.

Obama has failed on both counts. He is not at all what was advertised. And he created expectations no mortal could ever meet. A new NBC poll shows a precipitous drop in his approval rating with those coveted independent voters, from 60 percent to 46 percent. Arguably these are the voters to watch most closely, as they operate with greater objectivity and less ideological commitment than either liberal Democrats or conservative Republicans.

One of the troubles with extreme, reckless speed is the necessity of ignoring or having to lie about details. Consider the takeover of the health care industry Obama is trying to rush through the radical transformation of 1/5th of the entire American economy, creating at bare minimum a new obligation of more than a trillion dollars. His advertising promises include finally resolving the conundrum of all the uninsured people – a number bandied about as 40 million. And lowering health care costs for everyone. And that you can keep the insurance plan and doctors you have if you wish. And that no one earning less than $250,000 a year will face a tax increase.

The Congressional Budget Office has exposed the lies even more quickly than Obama has stacked up the national debt:

Lie #1: By COB estimates, the majority of the 40 million now uninsured will still be uninsured.


Dan Kennedy

Dan Kennedy is a serial entrepreneur and contributor to the Business & Media Institute.