One Term Wonder

Obama admits economic liabilities

By Stephen Collinson (AFP)

5 hours ago

Obama’s approval rating on the struggling economy has dipped to 26 percent in a Gallup poll as fears grow of a slump into a second recession and global stock markets plunge, clouding his 2012 reelection prospects.

“You’ve got an unemployment rate that is still too high, an economy that’s not growing fast enough,” Obama said in an interview with CBS News taped during his economic-themed bus tour of three states last week.

“For me to argue, ‘look, we’ve actually made the right decisions, things would have been much worse had we not made those decisions,’ that’s not that satisfying if you don’t have a job right now,” he said.

“And I understand that and I expect to be judged a year from now on whether or not things have continued to get better.”

This Week (7:40)

TAPPER: Lastly, David, I know that you’re well aware that you have a big task ahead of you when it comes to motivating Obama supporters from 2008 and potentially future Obama supporters, rallying the base. Progressive filmmaker Michael Moore had this question that he wanted me to ask you. Quote, “Are you aware of how profoundly disappointed so many of the president’s supporters are? Do you realize that each time the president moves to the right, he picks up no votes and loses many? Or do you cynically believe that because these people have nowhere else to go, they’ll end up voting for Obama?”

How do you respond to liberals like Michael Moore, who want to vote for the president, but are just profoundly disappointed? How do you convince them to turn out in November 2012?

AXELROD: Well, first of all, no one is cynically moving one way or the other. The president is not moving left or right; he’s interested in moving the country forward.

And we’ve got a very, very sharp debate here. And the question is, are we going to take steps in the short run to help stimulate this economy, to help create jobs, to help create growth? And are we going to take the steps in the long run that will protect the investments that can grow our economy and, most importantly, Jake, can create good middle-class jobs in the future on which people can raise their families?

That’s what education is about. That’s what research and development to create new technologies and advance manufacturing is about. That’s what the infrastructure — that’s what roads and bridges and repairs that put people to work now, but also create the opportunity to move — to move our goods across this country.

And all of these things are part and parcel of a strategy that is completely opposed by the other side, who want to go back to the same trickle-down, deregulation. You know, the same mantra we heard in the last decade that led up to this problem we’re hearing again. I think that this is such a profound choice that the president’s supporters and independent voters and people across this country will rally, because the future will be determined by this debate and the path we take.

If you want a Democrat in the White House in 2013, you’d better be working like hell to make sure Obama pulls an LBJ.

He and his team don’t care about winning.

Electoral victory my ass.

(h/t Phoebe Loosinhouse)