WSJ: Obama and Geithner Flunk Economics

The first report cards are in for President Obama and Treasury Secretary Tim Geithner.  The Wall Street Journal asked 49 economists to rank Obama and Geithner's handling of the economy.  Here is what they reported:

U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey. The economists' assessment stands in stark contrast with Mr. Obama's popularity with the public, with a recent Wall Street Journal/NBC poll giving him a 60% approval rating. A majority of the 49 economists polled said they were dissatisfied with the administration's economic policies.  

On average, they gave the president a grade of 59 out of 100, and although there was a broad range of marks, 42% of respondents rated Mr. Obama below 60. Mr. Geithner received an average grade of 51. Federal Reserve Chairman Ben Bernanke scored better, with an average 71…  

…The economists' negative ratings mark a turnaround in opinion. In December, before Mr. Obama took office, three-quarters of respondents said the incoming administration's economic team was better than the departing Bush team. However, Mr. Geithner's latest marks are lower than the average grade of 57 that former Treasury Secretary Henry Paulson received in January

 For all of Obama's eloquence and smooth talk during the presidential campaign, the reality is that his economic plans have scared the hell out of the both Wall St. and Main St.  To make matters worse, Porkulus II is already being discussed in the Pelosi led House. 

Geithner's call for fundamental change in capitalism have not calmed any fears.  If anything the have reinforced the reality that President Obama continues to march us down the road to Socialism.

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