John Ransom

Progressive Jonathan Alter is outraged that everyone is ready to “fire” Obama.

“I want to know,” wrote a snippy Alter on, “on a substantive basis, why you think he deserves to be in a dead heat with Mitt Romney and Rick Perry and only a few points ahead of Ron Paul and Michele Bachmann in a new Gallup Poll. Is it just that any president -- regardless of circumstances and party -- who presides over 9 percent unemployment deserves to lose?”

I was tempted to treat Alter with the “What? You got to be kidding,” routine. Any Republican should be way ahead of the president. But Alter seems to be one of the few still genuinely shocked that Obama has lost support from all segments of the American public who consider hugging the president to be inappropriate.   

So, since Alter asked sincerely, I will answer with five reasons based on substance, although I could probably come up with twenty reasons easily.

But for now, five will do.  

Each reason will come in two parts. The first part will be substantive arguments as to why Obama is a bad president because of a failed or flawed policy. The second part will put that argument into context with a campaign promise.

Reason Number One: Obamacare

Part One:

Obamcare legislation is flawed. Badly flawed. It doesn’t address the real need to bring down costs in the healthcare.

There were two reasons to reform healthcare in this country. The first purpose was to bring down runaway costs; the second was to expand coverage. At this point, it’s fair to say that even if fully implemented, no one knows what the exact outcome of Obamacare will be as to costs, although it’s safe to say coverage will expand.

Then-House Speaker Pelosi was right when she said that no one would really know what was in Obamacare until it was enacted. If that’s not an indictment of the legislation crafted by the president, I don’t know what is. I think at a minimum legislation ought to have known outcome, especially something as ambitious as Obamacare.

Instead of the “less than trillion dollars” figure that was trumpeted when Obamacare finally passed, the CBO says that the figure for the first ten years will come in north of $2 trillion. The increase will have to come from tax increases and benefit cuts.  

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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