The Sanchez Report

Latest Rasmussen Poll: Obama's Numbers Continue To Crash

The latest Rasmussen Reports daily Presidential Tracking Poll can not be good news for the White House. President Obama's latest job approval numbers among likely voters has fallen to a new low of 49% with 51% disapproving of his job performance. This is just another sign of the erosion that this White House has seen in recent weeks. The President's left wing agenda is running into a brick wall of Independents and Republicans who represent the center-right majority of Americans.

From Rasmussen Reports:

Overall, 49% of voters say they at least somewhat approve of the President's performance. Today marks the first time his overall approval rating has ever fallen below 50% among Likely Voters nationwide. Fifty-one percent (51%) disapprove.

Eighty-three percent (83%) of Democrats continue to approve of the President’s performance while 80% of Republicans disapprove. Among those not affiliated with either major party, 37% offer a positive assessment. The President earns approval from 51% of women and 47% of men.

These updates are based upon nightly telephone interviews and reported on a three-day rolling average basis. Most of the interviews for today’s update were completed before the President’s nationally televised press conference on Wednesday night. The first update based entirely upon interviews conducted after the press conference will be released on Sunday.

It is important to remember that the Rasmussen Reports job approval ratings are based upon a sample of likely voters. Some other firms base their approval ratings on samples of all adults. President Obama’s numbers are always several points higher in a poll of adults rather than likely voters. That’s because some of the President’s most enthusiastic supporters, such as young adults, are less likely to turn out to vote.

Obama Feeling The Heat: "You're Going To Destroy My Presidency"

President Obama is starting to feel the heat. I suspect the President has never experienced push back in any way shape or form. He has been accustomed to getting his way throughout his brief public career. His adoring fans and media have hung onto his every word, but this love affair has been disrupted. Not only are his poll numbers falling, but he doesn't even have the support of his own party in Congress. Just six months into his presidency and he is already concerned about his legacy. In a recent meeting with a Democrat Congressman, he was candid in expressing his concern about the lack of support of his healthcare plan by stating " You're going to destroy my presidency."

From Congress Daily:

A telling episode recounted by Senate Finance ranking member Charles Grassleyreveals the Obama administration might be more worried than they are letting on that a Republican senator's comparison of the healthcare overhaul to Waterloo might be dangerously close to the truth.

Grassley said he spoke with a Democratic House member last week who shared Obama's bleak reaction during a private meeting to reports that some factions of House Democrats were lining up to stall or even take down the overhaul unless leaders made major changes.

"Let's just lay everything on the table," Grassley said. "A Democrat congressman last week told me after a conversation with the president that the president had trouble in the House of Representatives, and it wasn't going to pass if there weren't some changes made ... and the president says, 'You're going to destroy my presidency.' "

The White House did not respond to requests for comment.

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Shock Poll: Rasmussen Shows Obama and Romney Tied 45-45

From Drudge:

RASMUSSEN 2012 poll released at 10:30AM ET

Obama 45% Romney 45%
Obama 48% Palin 42%

CBO Director: The Federal Budget Is On An Unsustainable Path

The Director of the Congressional Budget Office confirmed what most of us already knew. Namely that the federal budget is on an unsustainable path. I'm sure the White House isn't happy with having another credible source weigh in on their reckless spending.

From the CBO Director's Blog:

Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States. Over time, accumulating debt would cause substantial harm to the economy. The following chart shows our projection of federal debt relative to GDP under the two scenarios we modeled.

   

 

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Obamanomics Is Moving Us In The Wrong Direction

The great Larry Kudlow once again articulates why the Obama economic plan is leading us down the road to economic demoralization.

From Townhall.com:

There’s no question that current government policies for taxes, spending, and regulation are causing the U.S. to lose competitiveness in the global race for capital, prosperity, and growth.

Of course, China has been moving in the direction of free-market capitalism for years. To some extent, this shows the positive benefits of America’s free-trade policies and its open-mindedness in helping nurture not only China growth, but also middle-class prosperity worldwide.

But what’s particularly galling about Obamanomics is that we may well be losing our competitive edge with Europe. While Europe is ever so slightly moving toward Reagan and Thatcher, the U.S. is shifting toward an overtaxed and overregulated model that smacks of François Mitterrand. That’s something no one should want to tolerate.

Heavy government controls at home, along with an income-leveling social policy couched in economic-recovery terms, is no way to run a railroad. At the simple stroke of a computer key, world investment flows to its most hospitable destination. That includes a reliable currency. But in President Bush’s last year and President Obama’s first, the U.S. has become a less-hospitable destination for global capital. That should worry everybody.

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Perhaps The Dems Are Having Second Thoughts About Zelaya

Suppose President Obama was in his second term and decided that he wanted to stay in office indefinitely. Let's further suppose that he was insisting on pushing forward with a referendum to amend the constitution so that he could become a dictator. Let's say that the Supreme Court ruled that such a vote was illegal and that the Congress was opposed as well. Imagine that the opposition not only consisted of other political parties, but also his own Vice-President and leaders of his party. Imagine if he called on Hugo Chavez to illegally ship ballots to our country to force this vote. To make matters worse, imagine President Obama organizing a mob to storm the facility that was holding the illegal ballots. Stay with me, the story gets better. Now, let's say that under our constitution, the Supreme Court was allowed to order an arrest and in fact they ordered that the President be arrested in order to preserve democracy and the rule of law. This is exactly what happened to President Zelaya in Honduras and yet our President decided to line up in support of this wannabe dictator along side the likes of the Castro Brothers, Hugo Chavez, Daniel Ortega and every other Marxist in Latin America.

Apparently, the Democrats in Congress are starting to realize the fallacy of their ways and are back-peddling on their support of Zelaya. Too bad the mainstream media is not following their lead. they continue to report the situation in Honduras as a military coup.

From HotAir:

The Obama administration jumped quickly into the fray over the removal and expulsion of president Manuel Zelaya from Honduras, calling the action a “coup” and demanding his reinstatement.  Fellow Democrats in Congress followed suit, but The Hill reports that they may be changing their minds.  Suddenly, they have begun acknowledging the crimes Zelaya committed and stopped calling for his return to office.

Maybe the national media can finally follow suit and report the entire story on the Honduran crisis.  While the Hondurans made a big mistake in forcibly exiling Zelaya, they had ample reason to arrest him and try him for several violations of their constitution.  It’s entirely possible to criticize the manner of Zelaya’s removal while still recognizing the necessity of protecting the nation from a dictatorship in its nascent stages.

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Art Cashin Calls Stimlulus Package A "Hoax"

The Wall Street legend, Art Cashin, who serves as Director of Floor Operations for UBS Financial Services Inc. was interviewed today on CNBC and provided his view of the market. During the on air interview, he once again stated his belief that another stimulus package would be a waste of time and money, because the first package was "part illusion, part hoax." He further stated that the problems in the economy have not gone away and " the fire extinguisher is empty." He believes that the current stock rally will be short-lived but did not predict whether the pull back will be minor or a severe drop.

These comments are part of a growing chorus of the business community who are becoming more vocal in their opposition to the policies being offered up by the Obama Administration. The White House should take note and abandon its wreck less course. Somehow I doubt that they will listen. That's the problem with placing our economy in the hands of a group of academics and politicians who have never spent a day in the private sector. Ladies and gentlemen, our financial future is at stake and this is a battle of Theory vs. Reality. I'm pulling for Reality!

The Case Against Obama's Healthcare Takeover

From Kudlow's Money & Politics:

It looks like President Obama’s big-bang health-care reform is going down to defeat. This is good. But my question is why do we need it at all? According to a recent ABC News/USA Today/Kaiser Family Foundation survey, 89 percent of Americans are satisfied with their health care. That could mean up to 250 million people are happy. So why is it that we need Obama’s big-bang health-care overhaul in the first place?

There’s more. According the U.S. Census Bureau, we don’t have 47 million folks who are truly uninsured. When you take college kids plus those earning $75,000 or more who chose not to sign up, that removes roughly 20 million people. Then take out about 10 million more who are not U.S. citizens, and 11 million who are eligible for SCHIP and Medicaid but have not signed up for some reason.

So that really leaves only 10 million to 15 million people who are truly long-term uninsured.

Yes, they need help. And yes, I would like to give it to them. But not with mandatory coverage, or new government-backed insurance plans, or massive tax increases. And certainly not with the Canadian-European-style nationalization that has always been the true goal of the Obama administration and congressional Democrats.

Instead, we can give the truly uninsured vouchers or debit cards that will allow for choice and coverage, and even health savings accounts for retirement wealth. According to expert Betsy McCaughey, instead of several trillion dollars and socialized medicine, this voucher approach would cost only about $25 billion a year.

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