The big news story this morning is the CBS poll that has President Obama with a dismal 37% approval rating. Support for Obamacare has plummeted to 31%, with 61% disapproving of the law.
The Democrats are in a panic, but there isn’t much they can do other than try to entice Republicans into joining with them to “fix” the law, thereby making the disaster bipartisan. Things are only going to get worse, as tens of millions lose their existing health insurance and a large majority of Americans, in both the employer-sponsored market and the individual/small group market, find that the cost of health insurance is rising.
Last night a businessman just returned from China told me that demand is down in Chinese factories because American retailers are cutting back on orders. The reason: middle-class Americans have figured out that their health care bills are going up under Obamacare, and they are cutting back on other spending. The time is not far off when Barack Obama yearns for the days when he had a 37% approval rating.