According to Gallup Daily: Obama Job Approval, the President's approval rating (based on a 3-day rolling average) began at 68% and concluded a month later at 59%. That's a 9 point drop or a decline of 13%. When Gallup reported its findings* on the 23rd, it said modestly that approval is only "down slightly".
Obama's fans - who have been watching his series of mis-steps (who knew that the botched Oath of Office would be such an accurate omen?) and the self-inflicted wounds of the Democratic Party as it embraces the "culture of corruption" - are relieved that so little damage has been done to The One. But how does Obama's slightly dropping approval rate bring good economic news? Consider the stock market.
January was the coldest of months for the Dow in over a century. And the specific period running from Obama's first full day in office to February 23 (covering the same time period as Gallup's daily poll) saw the market drop just 10%. It's a free-fall! We're on the verge of catastrophe! Right? Wrong!
Obama is dropping faster than the market, 13% vs.
10%. If the President is only "down slightly", why all the doom and gloom over the economy? What is 3 points less than "slightly"? Maybe not "not at all" but, at the very least, "not enough to worry about"!Don't you feel better already?
[*The report on the 23rd used a rolling average up to Feb 19-21 which is not as bad as the full-month average ending Feb 21-23.]
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