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Right Turn
Posted at 07:45 AM ET, 08/09/2011

Morning Bits

He has worse problems than this. “Jon Huntsman: The silver spoon candidate.”

The Obama administration is worse than Arab despotic regimes when it comes to Syria. “Saudi Arabia, Kuwait and Bahrain said they were recalling their ambassadors from Syria to discuss the situation.”

You wonder if it can get any worse. “The State Department welcomes the announcement by Saudi Arabia that it is recalling its ambassador from Syria, but the U.S. has no plans to do so.”

Is there anything worse that could happen to the super-committee? “Labor unions and liberal groups are leery that Senate Democrats are willing to allow cuts to entitlement programs in a round of deficit-reduction talks slated for later this year. These groups have stepped up pressure on Democratic leaders to appoint staunch party loyalists to a supercommittee tasked with cutting $1.5 trillion from the federal deficit.”

Well, President Obama’s reaction to the downgrade could be worse. He could be attending fundraisers and greeting football champs at the White House this week. Oh, wait. Okay, now it’s time to panic.

The worse the economy, the worse his poll numbers. Jake Tapper reports that “voters in a number of swing states won by Obama in 2008 were less approving, signaling what is expected to be a tough road to re-election ahead. The president’s rating sagged below the symbolic 50-percent mark in Indiana (42 percent); Oregon, Colorado and Nevada (44 percent); Ohio (45 percent); and Virginia and North Carolina (46 percent).”

Which is worse — knowing that the “fear gauge” is off the charts or that the president doesn’t seem to know what to do about it? “The stock market’s ‘fear gauge’ staged its biggest one-session rise in four years Monday as U.S. stocks careened lower in the first trading session since Standard & Poor’s Ratings Services cut the credit rating for the United States. The Chicago Board Options Exchange Volatility index, or VIX, climbed 39% to 44.55 recently as investor fled stocks and pushed Dow Jones Industrial Average down as much as 605 points. Monday’s VIX jump marks the biggest percentage rise since Feb. 27, 2007, when the VIX soared 64%.” Whatever it is, it’s really bad.

By  |  07:45 AM ET, 08/09/2011

Categories:  Morning Bits

 
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