People like Obama but don't expect much

Most Americans like Barack Obama even though they don't think he will do them much good.

According to a Bloomberg/Los Angeles Times poll, more than half of respondents say that the president-elect will not be able to help their personal finances. Almost seven in 10 expect Obama to accomplish only a few of his campaign goals.

Perhaps their cynicism is justified. All of the available data indicates that the economy is going to get worse. Retail sales are expected to be dismal this holiday season. Housing probably will not bottom until next year at the earliest.

Interestingly, people are willing to give Obama the benefit of the doubt. People who responded to the poll say Obama makes them feel "hopeful," "optimistic" and "proud," which is incredible. People know the economy is bad, so bad that they believe a man with limited experience in Washington can do a better job than the president who has lead the country for the past eight years.

"Outside of the economy, Americans rate the Iraq War, followed by health care, as the most pressing issues, with energy and tax cuts trailing," Bloomberg says. "And more than two-thirds trust the president-elect on national security, even though he was criticized for his lack of experience in that area during the campaign."

We are living in interesting times.