Barack Obama's approval polls slipped precariously closer to the 30 percent range this week, as many more Americans expressed deep dissatisfaction with his failed presidency.
As Obama frantically runs around the country trying to find a motivating message that resonates with the base of his party, it's obvious that he's in over his head, without a serious, substantive agenda, or any workable idea of how to get America moving again.He's still peddling the same shady shell game to raise the minimum wage, an idea the Congressional Budget Office says would kill up to one million jobs. The Gallup Poll Sunday reported that barely 40 percent now approve of the job he's doing, as more Americans (41 percent in its recent survey) point to a sluggish economy, stagnant incomes and the dearth of good paying, full time jobs as their biggest concerns.
There are other signs of the economy's weaknesses that are getting a lot more attention lately in the national news media than they have in the past.
Last week, for example, the New York Times' economic analyst Neil Irwin focused on the lack of capital investment in the still-uncertain, risk-averse, Obama economy.Yes, "businesses are making record profits, cash hoards are strong and borrowing is exceptionally cheap," Irwin writes. "But companies aren't plowing much money into big-ticket investments for the future."
Indeed, "what businesses spend on equipment, software buildings and intellectual property... still hasn't bounced back to its pre-crisis share of the economy, let alone made up for lost ground from the record lows of 2009," he says.
"What has this got to do with me, or my search for a job or one that pays more than the one I have now," you ask?
Higher capital investment translates into more jobs and in the process more productivity and a stronger economy
But it isn't just businesses who are leery of reinvesting more of their income. Consumers have been just as risk-averse, too, according to recent reports.Americans are stashing away more money in their bank accounts and other holdings than at any time in the past two decades, according to a report by Moebs Services, an economic research firm.
That's a sign that wary consumers, worried about the economy or losing their jobs, or the lack of any raises in the future, are cutting back on spending, the report says.In yet another sign the Obama economy is hurting mid-to-low-income Americans -- people he says he wants to help most -- look no further than what's happening to Wal-Mart, the king of America's retail industry.