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The Downgrade of President Obama's Presidency
  • The Downgrade of President Obama's PresidencyTweet President Obamas job approval was downgraded this week to an all-time low . That shouldnt be a surpise to anyone, giventhat all the news coveragethis week has been a reactionto Standard Poors first ever downgrade in theU.S. debt rating. President Obama is the first President in history to preside over Americas credit downgrade. The word downgrade itselfhas become symbolic of the towering hopes that America and the world hadwhen President Obamawas firstelected President. The Der Spiegel magazine printed an article on August 9, cfa notes 2014 2011 titled, How President Obama Disappointed the World , in which they comment: All that remains of the great hopes Americans and the world had pinned on Obama, inspired by his stirring campaign speeches about change and renewal, is a battlefield of unsatisfactory and contradictory compromises. Obama, who just turned 50 and was once a symbol of youthful change, suddenly seems old and worn out, cfa level 2 sample questions as gray as his hair has become. In the same way thatthe subprime mortgage crisis became theproverbialphrase thatsymbolizedeverything wrong during Americasfinancialmeltdown during Obamas firstmonths in office,theword downgrade has become theingloriousverb that smashed the hopes and dreams of not just the Americanpeople, but indeed the world.Is downgrade the term that represents the zeitgeist ofObamas troubled presidency? In yet another article, titled Obamas Weaknes is a Problem for the Global Economy , Der Spiegel referred toObama as, The Indecisive President , adding that, a new financial crisis has gripped the US, Asia and Europe, cfa level 3 notes but Barack Obama can only respond with catchphrases. The United States will remain a triple-A country, the USpresident insisted Monday, as stock markets crashed. The most powerful man in the world seems strangely paralyzed. Downgrade is an accurateeuphemism for lthe loweringof all sorts of expectations forpeople and things from theirpreviously lofty status. Bloomberg reported today that, schweser cfa level 1 [c]onfidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.
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