Monday, November 29, 2010

It's the Economy Stupid




The handwringing over the results of the midterm elections continues unabated. Every pundit is offering their analysis and advice to President Obama on how to turn around his Presidency. Pundits recommend that he needs to demonstrate "leadership" or be "bipartisan" or "connect" to the American people. And right wing pundits of course demand that he adopt a conservative ideology.

People seem determined to ignore the one variable that explains it all, the performance of the economy. Probably because that explanation is boring and can't fill up the 24 hours of blathering that is required for FOX and MSNBC programming.

My conviction that the economy explains almost everything in our current political environment was confirmed when I read the Wikipedia summary of the final chapter of CNN's Cold War documentary while preparing for my World History class. This statement about President George H.W. Bush really struck me:

"The Soviet Union ends on 25 December 1991, and in his Christmas Day address Bush announces the Cold War is over."

George Bush presided over the country when it's mortal ideological enemy of 50 years fell AND managed the armed forces to a total and convincing victory over Iraq, the first major successful military operation since Vietnam, and he still convincingly lost the 1992 election to Bill Clinton. When I think about that election result it is a stunning event? Of course Bill Clinton's most famous slogan from the '92 campaign says it best, "It's the economy, stupid."

Political scientist have convincingly demonstrated the overwhelming relationship between the economy and Presidential re-election rates. It just seems pundits don't want political scientists to reveal that all the endless white noise on TV is useless and wrong.


So when someone suggests that Obama needs to do this or that to win back the American people remember that that person is probably just advancing their own personal agenda by disguising it as sincere advice designed to help the President.

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