“the world watches america’s disappointment with president obama in disbelief”

by Georges Ugeux (Chairman and CEO, Galileo Global Advisors)

While traveling in Europe, India and China in mid-August, I met political, business and media leaders as well as friends and family. Together we reflected on a very interesting question — why are Americans disappointed with Barack Obama?

Here is a summary of our thoughts:

Barack Obama is only twenty months into the job of being president of the most powerful country in the world. When he was elected, he inherited probably the worst presidential legacy of any president in U.S. history.

On the economic front alone, he was facing a $10 trillion budget deficit while handling the worst financial crisis since the 1930s along with a one-year old recession. To stop the bleeding of the financial sector, and to reverse some of the effects of the recession, he was forced to increase the public debt. He managed to do so while keeping interest rates at historically low levels. The budgetary impact of the increased public debt was minimal thanks to those low interest rates. An important side effect was that American home owners were able to refinance their mortgage debt at the lowest levels in a decade.

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10 Responses to ““the world watches america’s disappointment with president obama in disbelief””

  1. 1 Eleroy
    September 23, 2010 at 1:58 am

    President Obama, I salute you!! You are the best thing that ever happened to this country even if some fail to see it at the present.

  2. 3 kelly
    September 23, 2010 at 2:08 am

    The rest of the World is so lucky they don’t have 24/7 Republican skewed, biased news and opinions thrown at them like we do here in America. Republicans set the “outrage” meme back in January 2009 and media have been running with it ever since.

  3. 5 Sue in Minnesota
    September 23, 2010 at 2:40 am

    Our media causes me grave concern, and not just The Republican Fox Corporation. They are failing their responsibilities to report facts, without bias. It won’t change until consumers start objecting by diverting their consumer dollars elswhere. Words are powerful, and influential, and if they weren’t millions of dollars would not be devoted to marketing 24/7 to the American public.

  4. 6 vitaminlover
    September 23, 2010 at 2:48 am

    If God be for us then who can be against us?

  5. 7 Anniebella
    September 24, 2010 at 7:04 pm

    I can not believe Americans either. I know the haters from the other side will do and say anything. But the ones who supported President Obama, it seem to me they have not given him the time to get this right. They are so quick to be disappointed. But if the other side get in control, things will be so much worse. Overnight they act like things suppose to be fixed. It took G.W. Bush eight years to get us in this mess, and President Obama suppose to have things fix in twenty months. I know times are hard, but give the man the time to do his job. The Tea Baggers-Republicans don’t care about the poor and middle class. They only care about the rich. Those people want to cut Medicare, they want to mess with Social Security, anything dealing with the middle class. We should appreciate our President. I do, I really do.

    • 8 graciouslady
      September 25, 2010 at 7:10 pm

      V O T E November 2, 2010. Stay democrat (Some of them don’t deserve to stay.) Let’s give our President the opportunity to fix more of these problems our country faces. We M U S T keep the House and the Senate.

  6. 9 HopeOverFear
    September 25, 2010 at 7:19 pm

    Sometimes I think this country deserves Sarah Palin. Seriously.

  7. 10 Sue in Minnesota
    September 27, 2010 at 3:27 am

    HopeOverFear……No country deserves Sarah Palin! Although I understand, and agree with where you are coming from. Nasty, nasty woman who resembles no Christian that I know.

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