Obama, Geithner Receive Failing Grades From Economists in Survey

In stark contrast with Obama's popularity with the public, a majority of the 49 economists polled by the Wall Street Journal are dissatisfied with the administration's economic policies.

President 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.

Their assessment stands in stark contrast with Obama's popularity with the public, with a recent Wall Street Journal/NBC poll giving him a 60 percent approval rating. But a majority of the 49 economists polled is dissatisfied with the administration's economic policies.

On average, they gave the president a mark of 59 out of 100, and although there was a broad range of marks, 42 percent of respondents graded Obama below 60. Geithner fared even worse, with an average grade of 51. Federal Reserve Chairman Ben Bernanke scored better, with an average 71.

"The Obama team has blown it," said David Resler of Nomura Securities.

Some economists were underwhelmed by the $787 billion stimulus package, with 43 percent  saying the U.S. will need another stimulus package on the order of nearly $500 billion. Others were skeptical of the need for stimulus. "The package already passed was too much too late," said Dana Johnson of Comerica Bank.

However, economists' main complaint centers on the administration's plan for the banking sector. "The most important issue in the short run is the financial rescue," said Stephen Stanley of RBS Greenwich Capital. "They overpromised and underdelivered. Secretary Geithner scheduled a big speech and came out with just a vague blueprint. The uncertainty is hanging over everyone's head."

Geithner unveiled the Obama administration's plans Feb. 10, but he offered few details, and stocks sank on the news. The Dow Jones Industrial Average is down almost 20 percent  since the announcement, as multiple issues have weighed on investors' confidence. In the ensuing weeks, the Treasury secretary has appeared before Congress and offered more specifics but has said action on key parts of the plan still is weeks away.

Full article at Wall Street Journal.

After spending an astounding $61 million to elect Democrats in the 2008 elections, union bosses are getting their payback this week.

Yesterday, so-called "Card Check" legislation was introduced in both the House and the Senate.

Card Check strips American workers of the right to a secret ballot and gives the federal government the right to impose labor contracts on workers.

The timing of this assault on the freedom of the American workplace could not be worse. A new study shows that for every three workers coerced into joining a union under Card Check, one job will be eliminated by besieged American businesses.

Card Check Could Eliminate 600,000 Jobs In Its First Year

That means that an estimated 600,000 jobs could be lost due to Card Check in the first year alone - and that's on top of the over four million jobs already lost to the flagging economy.

Card Check is a job killer. Even Obama supporter Warren Buffet opposes it, saying "I think the secret ballot is pretty important in the country. I'm against card check." Watch him here.

But as far as Big Labor is concerned, a deal's a deal. Their goal is to get their allies in Washington to ram Card Check through Congress this week, before anyone notices that American workers and businesses are losing fundamental rights.

Biden to Unions: "You All Brought Me to the Dance...It's Time We Start Dancing"

House Speaker Nancy Pelosi has repeatedly requested military aircraft to shuttle her and her colleagues and family around the country, according to a new report from a conservative watchdog group. 

Representatives for Judicial Watch, which obtained e-mails and other documents from a Freedom of Information request, said the correspondence shows Pelosi has abused the system in place to accommodate congressional leaders and treated the Air Force as her "personal airline." 

Pelosi's office disputed the claim, pointing to White House policy enacted after the Sept. 11 attacks allowing for the House speaker to travel to his or her congressional district via military aircraft whenever possible for security reasons. Her office said she typically uses the same kind of aircraft used by her predecessor, Dennis Hastert. 

But Judicial Watch said that Pelosi was notorious for making special demands for high-end aircraft, lodging last-minute cancellations and racking up additional expenses for the military. 

The e-mails showed repeated attempts by Pelosi aides to request aircraft, sometimes aggressively, and by Department of Defense officials to accommodate them. 

"I think that's above and beyond what other members of Congress are doing and what is expected of our elected officials," said Jenny Small, a researcher with the group. 

In one e-mail, aide Kay King complained to the military that they had not made available any aircraft the House speaker wanted for Memorial Day recess.