Failure Generation: Obama faces growing credibility crisis

Obama faces growing credibility crisis
By Edward Luce in Washington

http://www.ft.com/cms/s/0/434315b2-8ea6-11df-8a67-00144feab49a.html

Published: July 13 2010 18:51 | Last updated: July 13 2010 18:51

Robert Gibbs, Barack Obama’s chief spokesman, got into hot water this week for daring to speak the truth – that the Democrats could lose control of the House of Representatives in November. But it could be even worse than that.

Contrary to pretty much every projection until now, Democratic control of the Senate is also starting to coming into question. While Mr Obama’s approval ratings have continued to fall, and now hover at dangerously close to 40 per cent according an ABC-Washington Post poll published on Tuesday, the fate of his former colleagues in the Senate looks even worse.

EDITOR’S CHOICE
Opinion: ‘Hell no’ is not a platform for power - Jul-13In depth: The Obama presidency - May-23Obama attacked over business regulation - Jul-12Video: Donohue on business regulation - Jul-12Global Insight: US financial reform - Jul-12White House taps Lew for budget office - Jul-13In the past few days polls have shown Republican challengers taking the lead over previously safe Democratic incumbents, such as Barbara Boxer in California and Russ Feingold in Wisconsin. Indeed, given the uniformly negative direction in the numbers, it is now quite possible the Republicans could win the Senate seats formerly held by both President Obama in Illinois, and Joe Biden, vice-president, in Delaware.

Add to that the continuing woes of Harry Reid, the Senate Democratic majority leader, in Nevada, where the Republican party’s recent nomination of Sharron Angle, a far-right and highly eccentric Tea Party supporter, appear to have had no positive effect on Mr Reid’s prospects, and the Grand Old party has a good shot at taking control of both houses of Congress. Worse for Mr Obama, political scientists say that at this stage in the calendar, there is almost nothing he can do about it.

“If you ask me where the silver lining is for President Obama, I have to say I cannot see one,” says Bill Galston, a former Clinton official, who has been predicting for months the Democrats could lose the House. “Just as BP’s failure to cap the well has been so damaging, Obama’s failure to cap unemployment will be his undoing. There is nothing he can do to affect the jobless rate before November.”

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"It's The People's Seat."!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

POWER TO THE PEOPLE

Democrats and the Big Lie : Health Insurance's "obscene profits."

Democrats and the Big Lie : Health Insurance's "obscene profits."

"I'm very pleased that (Democratic leaders) will be talking, too, about the immoral profits being made by the insurance industry and how those profits have increased in the Bush years." House Speaker Nancy Pelosi, D-Calif.

Once again the Democrats in Congress are looking for a fall guy to cover their attempt to Nationalise Health care through the "Goverment Option". This time to no ones surprise its Health Insurance companies. Contrary to popular media driven misconceptions Health insurance profit margins typically run about 6 percent. However burdened by huge state mandates and anti-competitive regulations profits barely exceeded 2 percent of revenues in the latest annual measure.2% profits are anemic compared with other forms of insurance or a broad array of industries, even some very beleaguered ones. Credit ratings of some of the largest insurers have been downgraded to negative from stable heading into this year.Investors are looking at stagnant if not a shrinking market for private health plans. Investors also fear the health care surcharge in the latest health care bill will have a devastating affect of penalizing private plans and making private Health Insurance unaffordable, forcing millions into the government run plan.

Congressional Democrats are looking to add another notch in their belt after regulating the private mortgage market into crisis and pushing the US into one of the worst recessions since the great depression.