Obama Being Abandoned By His Own Democrats And Voters.

Discussion in 'Politics' started by rc8222, Apr 29, 2011.

  1. rc8222



    Friday, 29 Apr 2011 01:33 PM

    By Dan Weil

    The potent coalition of liberals and moderates that vaulted President Barack Obama into the presidency in 2008 is crumbling around him as both factions, including Democrats and independents, rebel against his actions — or inaction. Simultaneously, the first cracks in his fundraising appeal have surfaced.

    Evidence of the revolt is a new Marist-McClatchy poll showing that the number of Democrats who disapprove of the president’s handling of the economy has nearly doubled, surging from 15 percent in January to 27 percent now. And disapproval among the all-important independents has jumped from 50 percent to 63 percent.

    Liberals are displeased with Obama’s move toward the center following his party’s wipe-out in the 2010 elections, and moderates are riled that many of his stances remain liberal.

    Among registered voters as a whole, the approval rating for Obama’s handling of the economy has sunk to 40 percent, reflecting voters‘ fear that Obama cannot lead the country out of its economic crisis of rising prices, particularly for gasoline and food, and dismal job prospects.

    And despite Obama’s implementation of policies that he promised would revive the economy, on Thursday, the U.S. economy’s growth slipped to an annual rate of 1.8 percent in the first quarter from 3.1 percent in last year’s fourth quarter — portending a very rocky road ahead.

    Even Obama recognizes the problem. “I think what you find are people who are worried about the future of the American Dream,” he acknowledged during a New York City fundraiser Wednesday.

    And on Capitol Hill, Obama now is getting heat from his own party, as some moderate Democrats vow to oppose any increase in the $14.3 trillion debt limit unless the move is tied to significant spending cuts, as Republicans have proposed.

    That list includes Sen. Mark Pryor of Arkansas and Sen. Joe Manchin of West Virginia.

    "What I've told anyone who will listen to me in Washington, including my leadership, is that I'm not going to vote for that [a debt ceiling hike] unless there is a real and meaningful commitment to debt reduction," Pryor said, according to Fox News

    As for Manchin, he said in a statement: "I strongly believe we must adopt a long-term, responsible and realistic fiscal plan that reflects our values and defines priorities, or I will vote against raising the debt ceiling," Fox reports.

    On Wall Street, hedge fund managers were important financial backers of Obama in 2008. But they have shifted their political donations from Democrats to Republicans because of what they feel is mistreatment from President Barack Obama and his administration’s effort to increase regulation of their industry, The Wall Street Journal reports.

    From 1990 through 2008, hedge fund employees donated about $40 million to candidates for Congress and the presidency, with about two-thirds going to Democrats, according to the nonpartisan Center for Responsive Politics.

    But in last year’s election campaign, 53 percent, or $11 million, of the contributions went to the GOP. Republican strategists say a few fund managers really helped make a difference in the party’s smashing victory.

    "Hedge funds bankrolled the Democrats in the 2006 and 2008 elections, and the very people they helped put in power turned around and screwed them," Sam Geduldig, a Wall Street lobbyist, told The Journal.

    Daniel Loeb, founder of Third Point LLC, helped raise $200,000 for Obama in 2008. But since Obama took office, Loeb has donated $468,000 to Republicans and only $8,000 to Democrats.

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