Who Cares What Wall Street Thinks?

So Wall Street wasn’t happy with Obama’s bank-rescue plan. As one of my breakfast pals pointed out: “Didn’t Wall Street get us into this mess? Who are they to complain that the rescuers aren’t doing enough to save them from themselves?”



The real question is what the American people think.



Public Policy Polling found that North Carolinians support the plan 50-39. But other pollsters say the support is lower – in the 40s nationally – when people are asked about “the economic stimulus and recover plan.”



The support rises when people are asked, as Public Policy Polling did, whether they support “President Obama’s economic stimulus package.” Obama’s supporters rally behind him.



The political problem with the stimulus plan is that people, who are saving money instead of spending, are afraid they’ll end up paying more taxes. To bail out bankers, hedge-fund managers and Wall Street.



That is the difficult political and communications challenge Team Obama faces.



My advice: forget bipartisanship. Why should Obama be blamed for the stubbornness of congressional Republicans, anyway? Why shouldn’t he make them the villains, as he did in his press conference, albeit gingerly?



Here’s the message: The Republicans and their Wall Street buddies caused this mess. You can’t trust them to fix it. Help me defeat them – and help you.




Click Here to discuss and comment on this and other articles.

Avatar photo

Gary Pearce

Categories

Archives

Who Cares What Wall Street Thinks?

So Wall Street wasn’t happy with Obama’s bank-rescue plan. As one of my breakfast pals pointed out: “Didn’t Wall Street get us into this mess? Who are they to complain that the rescuers aren’t doing enough to save them from themselves?”



The real question is what the American people think.



Public Policy Polling found that North Carolinians support the plan 50-39. But other pollsters say the support is lower – in the 40s nationally – when people are asked about “the economic stimulus and recover plan.”



The support rises when people are asked, as Public Policy Polling did, whether they support “President Obama’s economic stimulus package.” Obama’s supporters rally behind him.



The political problem with the stimulus plan is that people, who are saving money instead of spending, are afraid they’ll end up paying more taxes. To bail out bankers, hedge-fund managers and Wall Street.



That is the difficult political and communications challenge Team Obama faces.



My advice: forget bipartisanship. Why should Obama be blamed for the stubbornness of congressional Republicans, anyway? Why shouldn’t he make them the villains, as he did in his press conference, albeit gingerly?



Here’s the message: The Republicans and their Wall Street buddies caused this mess. You can’t trust them to fix it. Help me defeat them – and help you.




Click Here to discuss and comment on this and other articles.

Avatar photo

Gary Pearce

Categories

Archives