More than half of U.S. voters who describe themselves as independents disapprove of President Barack Obama’s job performance for the first time since he took office in January 2009, according to a poll released today.
A poor economic backdrop, something with duration, will always be a bipartison death to approval ratings.
Devaluation, reduced consumption, saving, investment, and most important time, will provide the fuel for the next expansion. The last time the President encouraged savings over consumption, the Mayor of Las Vegas implied that he was no longer welcome. There lies the problem. We need to save and invest more, but doing so decreases consumption today - a majority component driver of GDP growth.
Source: bloomberg.com
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