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Rasmussen has released a new poll in which only 42% of Americans give President Obama a good or excellent rating in running the economy. While these are not Bush-like numbers it is the lowest rating Obama has been given to date by Americans.
News that certainly will not help President Obama is the new jobs report released by the government. According to the report there was a loss of 467,000 jobs in June which is worse than economists had generally predicted. The unemployment rate rose to 9.5% as well.
The Obama administration must learn that ultimately, to put in Clintononian terms, it is about the jobs stupid. Americans care very little about the credit market, GDP growth, the DOW, or even consumer spending. What every American wants to see is more jobs and they want to see them sooner rather than later. If the unemployment lines continue to lengthen the Obama administration will continue to struggle to keep a grip on the support of the American public. New legislation which focuses not on "stimulus" or carbon dioxide but instead simply JOBS would be advisable. FDR had clear cut programs designed to put people to work such as the CCC and WPA which at least communicated to people that he was trying to increase employment. President Obama has no such programs which clearly communicate his administration's efforts to reduce unemployment.