The New - 20/20 Magazine

“to this tardy rebellion” after months of
“cheery access” from the oval office
and concluded their coverage by noting
that “now that it thinks about it, the
business roundtable is hard-pressed to
name much the white House has done
for growth…and can join that nonexclusive
club of economic actors – health
insurers, drug companies, medicare
doctors, utilities — that purchased a
share of the obama agenda and are
now feeling buyer’s remorse.”
this stark difference in how big
business is perceived here in the us
is sure to play out as we approach the
november elections, but “main street
america” certainly has their own take.
american families are angry, anxious
and now just plain annoyed.
american-based companies have
yet to resume vigorous job creation
and regional unemployment rates
seem to be climbing. us retailers
remain concerned that earlier upticks in
consumer spending were the result of
temporary federal assistance spending
and not an indicator of a healthier retail
us Watch
This stormy economic environment is
reason number one why President Obama’s
approval ratings are now just slightly higher
than that of the 535 Members of Congress.
sales market. consumers here have
not stopped spending; they are simply
choosing more deliberately. according
to one major retailer, customers
continue to buy the basics, say clothing
detergent, but opt out of the “extras”
such as fabric softener.
meanwhile, americans are growing
so frustrated with their governments –
both nationally and locally – that this is
turning out to be the year that “anybody
else” could win a seat in november over
an incumbent. this stormy economic
environment is reason number one why
president obama’s approval ratings are
now just slightly higher than that of the
535 members of congress, both at all
time lows.
as the Post’s columnist Dana milbank
put it recently, “it would not be accurate
to say that Democrats are worried
about losing control of the House in
november. it would be accurate to
say that Democrats are in a screaming
panic about losing control of the
House in november.” screaming panic?
enough said.
the silly season of politics will end
and the dark clouds of the summer will
dissipate. a more somber season will
follow as will rational public discourse,
thoughtful policy making and sound
economic planning.
could the sun come out tomorrow?
you can bet your bottom dollar.
or, perhaps more accurately in
today’s world, you can hedge it.
Birgit Matthiesen is CME’s special advisor
to the president & CEO on US government
relations. birgit.matthiesen@cme-mec.ca
CANADIAN MANUfACTUrErS & ExPOrTErS’ MAgAzINE | 43