Public sides with Obama in sequester debate
As the latest drama in Washington heats up, more Americans are throwing their support behind the president. Republicans, however, seem unmoved by the polls.
The thumbs-up for Obama, who recently began his second term, comes courtesy of a Bloomberg National poll Wednesday showing his job approval rating at 55%, the highest level since September 2009. That same survey showed support for Republicans at 35%, the lowest since the poll began in September 2009. A poll released Thursday by the Pew Research Center and USA Today drew similar conclusions.
Democrats and Republicans say they want to avoid the sequester partly because of the massive disruptions it will cause in the lives of many Americans. At the Defense Department alone, about 700,000 employees could be furloughed along with a slew of other government workers ranging from FBI agents to rangers at national parks. Government contractors may also be affected.
Compromise in hyper-partisan Washington, though, remains as elusive as it was during the recent showdown over the fiscal cliff. Worries about the sequester are dragging down the stock market, which this week posted its worst two-day drop of the year.
Economists such as Nigel Gault of IHS Global Insight argue that the sequester would harm the economy. He estimates that it would shave 0.5% from projected U.S. economic growth this year, which, though not catastrophic, couldn't be made up through other means such as by action of the Federal Reserve.
"We don't need to be implementing more austerity now," he said in an interview, adding that there are more effective ways to cut federal spending.
Some House Republicans are balking at the Obama administration's plan to avoid this calamity through a combination of tax hikes and spending cuts because, as The New York Times notes, a direct conflict with Obama "is a badge of honor" for many representing conservative districts.
Like many issues in Washington, the sequester may get resolved at the last possible moment. Worse still, politicians may punt on making a tough decision, kicking the can down the road to another day.
--Follow Jonathan Berr on Twitter @jdberr.
- Waffle House charges 20% security fee
So what? Generally speaking americans dont even know which coast Washington D C is on. Seeking popular consensus is largely a media sales job equal to anything Goebbels could have cooked up for Nazi causes. As far as the sequester is concerned-NO COMPROMISE. Compromise is how we got into this fiscal mess. As painful as it may be, I believe the only way for the american people to wake up is for spending cuts, loss of government jobs, reductions in giveaways, all to be dramatically reduced, even at risk of recession.
If public opinion were a valid consideration for legisation, we wouldnt have Omama care or $5 gasoline.
I think the reason the public sides with Obama, is because the public doesn't understand all of the facts. The Obama scare tactics are working. Remember when Bush scared America into attacking Iraq? Same thing here, the Obama machine is working overtime to scare America into submission. People don't learn, an emergency every week in the Obama White House, and the sheeple just follow along. Too bad.
"I will veto any attempt to stop the sequester" - Barack Obama - campaigning in late 2011
Today? "Its the republicans fault".
Don't believe me - just Google it
An uninformed citizen is an ignorant citizen. The sequester will cut 2% from budgets. If you work you just lost 2% of your pay as of January 1, 2013 from the payroll hike. You did not have a choose. Both parties are at fault but President Obama has yet to have a budget and it is required by law - but he only cares about the Obama law - HIS WISE UP AMERICA!!!!
In the Sequester what Obama is saying and what the party is doing are 2 differnt things.... Everyone wants a balanced budget..... However... no one is coming up with ways to balance it... Thats where the problem lies!
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The major averages finished the session on a lower note as the S&P 500 lost 0.4% while the Nasdaq shed 0.1%. The Russell 2000, which paced the retreat on Tuesday and Wednesday, added 0.2%, trimming its December loss to 3.5%.
After spending the first half of the session in a steady retreat, the S&P 500 found technical support in the 1772 area. Upon reaching that level, the index reversed sharply, and marched back to its flat line. There was no particular catalyst ... More
More Market News
With the universe of this category in its seasonal sweet spot, these picks have tailwinds propelling them into the new year.