Be INFORMED

Wednesday, December 24, 2008

4 Of 5 Americans Approve Of Obama's Transition

and those are some pretty impressive numbers!


Eighty-two percent of those questioned in a new CNN/Opinion Research Corporation poll released Wednesday morning approve of the way the Obama is handling his presidential transition. That's up 3 points from when we asked this question at the beginning of December. Fifteen percent of those surveyed disapprove of the way Obama's handling his transition, down 3 points from our last poll.

The 82 percent approval is higher than then President-elect George W. Bush 8 years ago, who had a 65 percent transition approval rating, and Bill Clinton, at 67 percent in 1992.

"Barack Obama is having a better honeymoon with the American public than any incoming president in the past three decades. He's putting up better numbers, usually by double digits, than Bill Clinton, Ronald Reagan, or either George Bush on every item traditionally measured in transition polls," says CNN Polling Director Keating Holland.

The poll also suggests that the public approves of the President-elect's cabinet nominees, with 56 percent of those questioned saying Obama's appointments have been outstanding or above average, with 32 percent feeling the picks have been average, and 11 percent saying Obama's choices have been below average or poor.

A third say that their impression of Obama has gotten better since the election, with only 8 percent saying their opinion has gotten worse.

Presidents usually start to lose support once they assume office and start making the tough decisions. But with eight in ten currently approving of Obama, he can give away 20 or 30 points, estimates Holland, and still have a majority of the country on his side.

With the mess that Obama will be inheriting from the Bush fiasco, he will need all of the support that he can get.

Jobless Claims Reach 26 Year High..

   and it probably is not going to get better for at least half of the new year, maybe longer.

   New government data that was released on Wednesday shows that new claims filers for jobless  benefits jumped by 30,000  to a 26 year peak last week.

Initial claims  for state unemployment insurance benefits rose to a seasonally adjusted 586,000 in the week ended Dec 20 from a revised 556,000 the prior week, the Labor Department said. It was the highest since the week ended November 27, 1982, when initial claims rose 612,000.

Analysts polled by Reuters had forecast 560,000 new claims versus a previously reported count of 554,000 the week before.

The four-week average of new jobless claims, a better gauge of underlying labor trends because it irons out week-to-week volatility, increased to 558,000 from 544,250 the week before. This was the highest reading since December 1982.

  It is noted that some states are seeing layoff increases in the auto industry essentially because consumers can not afford to spend their money on those vehicles.

     By the way. Those professionals who keep track of these things were only expecting an increase of 560,000.