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Obama's Approval Rating Falls Despite Wall Street Reform

By: Ashton King Email
By: Ashton King Email

President Obama is reveling in another victory on major legislation.

He's adding Wall Street reform to his list of other achievements including health care reform and the stimulus, but his approval rating continues to fall.

At the White House Thursday the President was reveling in another victory on a major piece of legislation.

"This reform puts in place the strongest consumer financial protections in history," said President Obama.

When he signs the Wall Street reform bill next week, he'll add it to a long list headlined by health care reform and the stimulus.

With so many accomplishments in just 18 months, you'd think the President would be flying high. Instead his approval rating continues to sink and now stands at just 44 percent.

So what's the problem? In a word, jobs. The President, who visited yet another stimulus project Thursday, this one in Michigan, seems powerless to do anything about an unemployment rate stuck at an excruciating 9.5 percent.

"What the President has been pushing is not working,” said Rep. John Boehner, R-OH. “Washington reports that are filled with a bunch of fuzzy math won't change the fact that the stimulus is failing."

The bad economic news has fearful democrats lashing out at each other.

White House Press Secretary Robert Gibbs ignited a firestorm this week with this comment: "I think there's no doubt there are enough seats in play that could cause Republicans to gain control."

Gibbs says he was simply stating the obvious, but sources say Speaker Nancy Pelosi is angry at Gibbs and deeply unhappy the White House isn't doing more to help.

After meeting with the President Wednesday Pelosi said he will campaign more for house democrats, but that creates another problem: many vulnerable democrats don't want the increasingly unpopular president in their districts at all.

Chip Reid reports, “Many of those vulnerable democrats say Wall Street reform is a good thing, but what their constituents desperately need now is jobs.”


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