TWO OUT of three Americans believe that President Barack Obama's policies will improve the economy and most say he is not to blame for their country's economic woes, according to a new poll published yesterday. The Washington Post/ABC Newspoll came as Mr Obama arrived in London at the start of a week-long visit to Europe, his first major foreign trip since taking office.
The proportion of Americans saying the country is on the right track has more than tripled since Mr Obama’s election but a majority still says the US is on the wrong track. Sixty-six per cent approve of the way the president is doing his job and almost as many are confident that his economic policies will work.
Views of Mr Obama’s performance diverge sharply along partisan lines, with 95 per cent of Democrats saying he is doing a good job, compared to just 30 per cent of Republicans.
Eight out of 10 Americans blame the economic crisis on banks and other financial institutions for taking on too much risk and a similar number point the finger at big corporations for poor management decisions. Seventy-two per cent blame consumers for taking on too much debt and 70 per cent blame the Bush administration for lack of regulation. Just 26 per cent blame Mr Obama’s administration.
Two out of three Democrats believe the government should borrow and spend to stimulate the economy, a policy two-thirds of Republicans oppose and on which independents are evenly divided.
Two months into her husband’s presidency, Michelle Obama enjoys the approval of 76 per cent of Americans – a jump of 28 per cent since last summer. Mrs Obama has made especially strong gains among Republicans, many of whom disapproved of her during the election campaign.
Yesterday’s poll was conducted before Mr Obama issued his ultimatum to Detroit car manufacturers to make radical changes within weeks or do without federal cash. The president’s plan and his decision to force General Motors’ chief executive Rick Wagoner out of his job has drawn a mixed response in Congress.
“The president has offered GM and Chrysler more time, but time alone isn’t enough,” said Michigan Democratic congressman Gary Peters, whose district houses Chrysler’s headquarters.
“The real test will be whether President Obama uses this time to support the auto companies as they strive to achieve the lofty objectives his task force has demanded. I will also fight in Congress to undertake major efforts to support our region and the families of laid-off workers.”
Politicians from both parties expressed misgivings about the firing of Mr Wagoner, a step described as “remarkable” and “unprecedented” by John McCain.
“Instead of sending General Motors and Chrysler into the pre-packaged bankruptcy they deserve, now they have taken the unprecedented step of firing the CEO of General Motors,” Mr McCain said. “A remarkable move by the federal government, I think unprecedented in the history of this country. What does this signal send to other corporations, financial institutions about whether the federal government will decide to fire them as well.”