Public confidence in “stimulus” dwindles over time

It’s no surprise, as unemployment continues to rise, that public confidence in wasteful government spending which promised to lower unemployment is waning as people realize that the government can’t solve their problems by going further into debt.

The WaPo reports:

Barely half of Americans are now confident that President Obama’s $787 billion stimulus measure will boost the economy, and the rapid rise in optimism about the state of the nation that followed the 2008 election has abated, according to a new Washington Post-ABC News poll.

Overall, 52 percent now say the stimulus package has succeeded or will succeed in restoring the economy, compared with 59 percent two months ago. The falloff in confidence has been sharpest in the hard-hit Midwest, where fewer than half now see the government spending as succeeding. In April, six in 10 Midwesterners said the federal program had worked or would do so.

Two weak points on the domestic front remain: Obama still gets tepid marks on his handling of problems facing the big U.S. automakers, and as many people disapprove as approve of his handling of the federal budget deficit. On the deficit, intensity runs against the president, with 35 percent “strongly” disapproving, compared with 22 percent who say they are solidly behind his efforts.

More broadly, worries about the deficit remain widespread, with almost nine in 10 Americans saying they are “very” or “somewhat” concerned about its size.

One factor that continues to work for Obama, however, is that most Americans still see him as a new type of Democrat, one “who will be careful with the public’s money,” rather than an old-style, “tax-and-spend Democrat.” By this point in 1993, Clinton had lost the new-style label, which he had maintained over the first months of his presidency.

Clearly that stigma of being “careful with the public’s money” will die off once more people wake up to the nearly $2 trillion deficit which is a direct result of Obama’s government stimulus. When the government grows, the private sector shrinks which is terribly for American wealth and job growth.

More on this topic from Hot Air discussing how the “blame Bush” defense will only take Obama so far:

The biggest factor may be the unemployment report in early June that showed joblessness rising much faster than Obama’s team had predicted, even without a $787 billion stimulus bill. If so, then we can expect a major shift when unemployment crosses the double-digit threshold, as even Obama predicts it will this year. We can call that the expiration date for blaming Bush, and the moment when the economy becomes Obama’s fault, as his expensive and expansive policies fail to arrest the economic decline.

The crosstabs, as always, show some interesting motion. Majorities of both whites and blacks blame Bush, but a majority of “Others” (primarily Asians and Hispanics) blame Obama, 54%-43%. Independents split on the question, 48%-46%, leaning towards blaming Obama, a big problem if that moves towards a majority. Democrats and Republicans have predictable splits, as do conservatives and liberals, but the most interesting split comes in the Political Class demographics. Without leaners, a plurality of self-described “mainstream” people blame Obama, while 100% of the self-professed political class blame Bush.

Nor does it look good for the future of Obama’s economic policy. This question had less to do with the current crisis and more to do with Obama’s policies for reversing it. A large majority believes they know better than Obama about economic issues, 60%-30%. That holds true in almost every demographic category, with a few notable exceptions. Blacks trust Obama more than themselves, 72%-21%, and liberals by 54%-30%, but Democrats can’t even get a majority for that position, 48%-37%. Independents trust themselves more than Obama by a whopping 76%-19%, almost identical to Republicans. A majority of higher-income workers (between $60-100K) blame Obama; the under-$20K demographic, which one could expect to be loyal to Obama, trust themselves more than Obama’s economic leadership, 49%-39%.

Obama only has a few weeks at most to keep using the “inherited from my predecessor” defense, if that. The next joblessness report comes out in early July, and it will probably spell an end to that defense, as well as support for Obamanomics in general.

Over time as more people realize that their hopes and dreams haven’t been answered by the promised hope and change, these numbers will wilt more as Obama is given more responsibility for his failures by the public.

The numbers are already far short of the White House’s own estimates which said Obama’s stimulus would “create or save” millions of jobs, that was a lie.

I’ll let President Obama’s numbers do the talking:

Anyone with half a brain called it from the beginning that pouring billions into liberal special interest projects would do nothing for the economy and job creation. Instead of taking a free-market approach and letting the private sector create jobs, the President has wasted billions of dollars on projects which have had no measurable affect on the economy whatsoever, despite his estimates and claims to the contrary.

How can anyone believe White House estimates from this point forward? People are still harping about WMDs but they’re the same people now defending President Obama’s fuzzy, non-existent math.