John Ransom

Not that we needed any reminding from economists that Obama’s economic plan has sucked wind since inception, but a new survey released by the AP says that a large majority of economists polled rate Obama’s economic performance fair-to-poor.

So, the folks who told us at the beginning of the year to expect 3 percent GDP growth have bailed on Obama now that he’s screwed up their magical predictions for the year.

There must be year-end bonuses involved for them.  

I’m not saying that all economists are Obamanauts, I’m just saying that of the ones polled by the AP, it’s likely none of them saw a stimulus program or a TARP program that they didn’t like.

In a story in the Washington Post, the AP reports that “Half of the 36 economists who responded to the Dec. 14-20 AP survey rated Obama’s economic policies ‘fair.’ And 13 called them ‘poor.’ Just five of the economists gave the president “good” marks. None rated him as ‘excellent.’”

I don’t know how many surveys the AP sent out, but I’m guessing that a large number of economists politely voted “not present.”

That means that 86 percent of economists think Obama’s done little to help the economy.

Indeed some of the economists think that Obama hasn’t wasted, er, borrowed, er, saved/created- or something- enough of our tax money on programs that don’t work. 

And I was wondering what an economics degree was worth just the other day.

Now I know the answer: A lot less than I thought.

“They’ve generally tried to take the right kinds of measures but have often failed to lead with enough vigor to overcome political obstacles,” William Cheney, chief economist at John Hancock Financial Services told the AP.

Thank God they have failed. That’s failure I can believe in. Hillary was right. We can’t afford all the Democrats bright ideas. And according to polls and mid-term elections, the chief political failure has been in hoodwinking enough voters to go along with the economists.     

News flash to Cheney: You’re wrong about the vigor thing, and also wrong about the “right kind of measures” thing.  

If one thing is true of Obama’s administration it’s that they have generally marched in the wrong direction with a kind of arrogance that should be reserved only for those who are occasionally right about something- anything- economic.

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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