President Barak Obama and Treasury Secretary Timothy Geithner received their report cards. They both failed economics, according to a survey of economists conducted by the Wall Street Journal. And when asked in an interview with Pajamas Media what President Obama ought to do, economist Thomas Sowell replied, “Resign.” Oooo, ouch.
Though divided on the effectiveness of the fiscal stimulus packages, passed and future, a majority of surveyed economists disapproved especially of the gap between promises and policy. “They overpromised and underdelivered,” said Stephen Stanley of RBS Greenwich Capital.
Presidential approval numbers, meanwhile, seem to be drifting south, and disapproval ratings gently rising.
And here is something from Jennifer Rubin, also at Pajamas Media: “All honeymoons must come to an end. It’s just that Obama’s is ending more abruptly than most.”
Meanwhile, Cardinal Gianfranco Ravasi, president of the Pontifical Council for Culture, reminds us of three kinds of hope during economic troubles; spiritual, physical, and social. The Cardinal said, “…hope is the littlest sister of faith and charity,” and that “to allow oneself to be dragged down is the greatest temptation.” He also said, “You, Christians, must be ready to respond.”
It is desirable certainly to be blessed with elected officials that have a solid knowledge of economics, but it is not necessary. The Cardinal reminded me that the hope of our economic future is ultimately grounded in Jesus. Hope springs from the moral strength, knowledge, and skills of the millions of men and women who get up every day and do their jobs, whether the job involves raising kids or crops, making coffee or beds, planning estates or getaways, making cars or computers. It is human dignity lived out in the workplace and striving for occupational excellence that makes our world a bit better than it was the day before. It is this, not economists’ or even voters’ approval ratings of the President or Treasury Secretary, that justifies hope for better tomorrows.
