Filed under: Dr. Boyce Money, News, The Economy
The state of the economy was the reason that Obama was elected, and it is also the reason he may not be re-elected. During the election when the economy crashed, Americans realized that it doesn't make sense to have a president (John McCain) who admitted that he knows nothing about the economy by supporting the tactics of Bush. So, Obama became their hero to lead them through dark times.
Like many of the first black college football coaches, Obama is being allowed to run the team that nobody wants. The economy is in it's worst shape in decades, and with every new bad piece of economic news, people are looking to pin it on the president. It doesn't help, however, that the president has economic advisors like Lawrence Summers from Harvard, who are simply unqualified for the job. Nobel Prize winner Paul Krugman would have been a far better choice.
According to the most recent Rasmussen Poll, only 27 percent of all voters strongly approve of the way President Obama is running the country. Another 44 percent of Americans strongly disapprove. Additionally, voters now trust Republicans more than Democrats on nearly every important issue for our country. This is bad news for Obama and bad news for his party.
Making matters worse for Obama is the recent adjustment in economic data, now claiming that the economy only grew by 1.6 percent last quarter. This is a modification from the previous estimate of 2.4 percent. Even the prior assessment of the economy earned Obama quite a bit of criticism, while the new data will surely make his critics that much bolder.
In some ways, President Obama is in the same shape as Tiger Woods. When Tiger is winning, America thinks he's Superman. When he's losing, he's just another unqualified black man. President Obama was the golden goose of the Democratic Party a little over a year ago, and now he's the goose that has political salmonella. While Obama won't publicly admit that racism plays a role in how people perceive him, I am sure he sees it every single day.
The only hope for the president is that the economy will recover at some point. When it does, Obama can position himself to take all the credit. One has to wonder, however, how the results of the mid-term elections are going to impact his ability to be effective when having to deal with so many Republicans who hate his guts. It's going to be a long two years for the president, so if you have his back, you might want to make sure you get out and vote.
Dr. Boyce Watkins is the founder of the Your Black World Coalition and a Scholarship in Action Resident of the Institute for Black Public Policy. To have Dr. Boyce commentary delivered to your email, please click here.