Well, not really. At 2P today the Dow is down 200 points, or 1.8%; Obama's personal stock is taking a much more serious beating. Rasmussen has his approval rating down to 42% today (and that's not "strongly approve", that's at least "somewhat approves"). That's against 56% who at least "somewhat disapproves", and 44% who "strongly disapprove". For the record, only 24% "strongly approve". That's a huge freakin' gap, my friends.
And over at the Campaign Spot, they talk about why it can only get...worse. Blame Barack's response to Arizona:
Unlike some previous dips, this dip will have lasting implications, because this issue is not going to go away. In fact I would say this issue has more staying power than healthcare because changes to healthcare will come relatively slowly (i.e. we can forget about it now); immigration reform is a hot issue with states passing their own laws in defiance of the lack of federal action. As the immigration debate continues, he could actually dip below 40 percent.
...Immigration or should I say ILLEGAL immigration debate has caught the attention of the country. The Arizona Law, even in the most liberal states, polls net positive. Nationally, the Arizona law polls 55%-33%-12%, which indicates that 62.5% with an opinion favor the new Law (55%/88%=62.5%). With a nation in extreme debt, the last thing the mainstream voter wants is a border policy which allows more people to drain on our already stressed public assistance services, this includes many who are drawing on those services, who are life long Democrats.
....The debate has “outed” Obama and Democrats in general. Even the most casual voter, now clearly understands that Obama’s priorities are not commensurate with defending the image of the country; real bad perception to be stuck with. I speak to you as one who is not crazy about the AZ Law, but one who clearly understands it I would not be surprised if Monday Night polling was under 40%.
That would surprise me, but like the boys on The Street say about stocks: Every time you think you've hit the bottom, think twice, because until you've hit zero, there is always further to fall.
How far has The One fallen? From 65% approving to 42% approving; that 23-point drop equates to a 36% drop in Obama's stock price in just over 16 months.
The question is, has he hit bottom yet? Based on the thoughts above, his stock still might have a way to travel yet until it gets there....I guess the more important question is if the "Obama stock" can rise to 51% by 2012. At this moment, it seems possible, even if not probable, to recover 7% or so of the public confidence.
But that's today. Remember - ObamaCo. may not yet even have begun to truly plunge. Come next week, that hill back to political sustainability may be an even steeper climb...
UPDATE: Does Barack Obama have a clue? The answer, sadly, is no:
Barack Obama praised the Phoenix Suns (Los Suns) for their Los Suns’ jersey protest during his NBA interview that is scheduled to air tonight....“It’s terrific that the Suns, who obviously feel very strongly about their community, recognize that a big part of their community felt threatened by this new law.”
If the "community" is Arizon voters, they favor the law by 71%. But why do I think that Obama isn't considering legal, law-abiding citizens when he is referring to Arizona's "community"?
"Under 40%" is looking real generous right now...
UPDATE II: Barack, are you reading my blog again? Looks like he got wise pretty fast:
President Obama has authorized the call-up of 1,200 National Guard troops to the US Mexico border, an administration official confirms, requesting $500 million in supplemental funds.
The enhanced border protection and law enforcement will, “provide intelligence; surveillance and reconnaissance support; intelligence analysis; immediate support to counternarcotics enforcement; and training capacity until Customs and Border Patrol can recruit and train additional officers and agents to serve on the border,” an administration official says.
It's an gesture, but empty, like all of Obama's. John McCain claims at least 6,000 troops are needed; even that figure seems light for a border as long as the one shared by Mexico & Arizona. Additionally, these are Guardsmen, not border patrol, so they are untrained in this type of "intercept" operation. And what are the "rules of engagement"? Should the Guard be fired upon, can they return fire? Knowing Barack, there is only one answer to that question...
Finally, note that despite the ABC headline claiming Obama to Deploy 1,200 National Guard Troops to the US-Mexico Border, the President doesn't formally deploy National Guard troops himself, what he can agree to do is pay their costs under Title 32 if requested by the state.
And since they were requested by a Democrat, well....I guess it beats actually talking to Governor Brewer, right? And just out of curiosity...did Obama ask for Mexican president Calderon's permission first?
A sham. And the American people will be on to it in about 15 seconds...