Approval ratings might improve after a live LinkedIn town hall meeting today gives President Obama a platform to promote his new job plan and gain voter support.
A LinkedIn Town Hall meeting broadcast live today may help President Obama raise sagging approval ratings among American voters and boost support for his newly outlined jobs and deficit reduction plan.
The president’s approval ratings are hovering around 40 percent amid growing concern that the nation, still suffering the effects of the first economic downturn, is slipping back into recession. A host of negative factors continue to erode confidence in the president’s ability to turn the nation’s economy around. Approval ratings are slipping over an increasingly gloomy outlook from the Federal Reserve, turbulent stock markets, sovereign debt woes, a depressed real estate market and unemployment persisting above 9 percent.
Fewer than 22 percent of the 1,100 investors surveyed by Millionaire Corner this month say they believe that the job plan outlined by the president will produce the desired results. Men are less likely (19 percent) to believe the president’s job plan will work, compared to women (24 percent), but skepticism runs highest among investors ages 40 through 60. Only 18 percent of the middle-age demographic has faith in the president’s job plan.
It’s perhaps no coincidence that the 40-something and 50-something investors are also the most likely to have a close friend or family member who is looking, but unable to find work. More than 60 percent of these investors are well-acquainted with a frustrated job seeker, compared to 44 percent of those younger than 40 and about 52 percent of investors age 60 or older.
Frustrations with Washington politicians as a whole appear to trump pessimism over the president’s job plan. Only 8 percent of investors surveyed this month say they believe that Congress and the Obama administration will cooperate to make a workable jobs plan. More than 38 percent of paticipants say they believe the nation is heading into a double-dip recession.
Declining personal fortunes underlie the political skepticism. Slightly more than one-fourth of the investors say they are better off financially now compared to a year ago, and fewer than one-third expect to be better off one year from now.
During today’s LinkedIn Town Hall, Obama described the broad elements of his job creation and deficit reduction plan which would increase spending on education and infrastructure, putting more teachers and construction workers back to work. The plan would also create additional tax incentives to encourage the nation’s struggling small businesses to begin hiring. Spending cuts and tax reforms increase the tax burden on the nation’s wealthiest citizens would fund the plan.
“The American people cannot afford to wait. The American people need help right now,” said the president in a plea for cooperation among bitterly divided legislators and his administration. “Whenever America has moved forward, it’s because we’re moving forward together.”