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Monday, February 6, 2012

It's The Improving Economy, Stupid

For the typical President wannabe,
The election's about the economy;
So what's there to do
For the wannabe who
Is afraid how much better it's gonna be?

This is the dilemma faced by US presidential contender and former Massachusetts governor Mitt Romney. Having put some distance between himself and Newt Gingrich, the nearest Republican contender, Mr. Romney has now pivoted to the general election, in which his key issue is President Obama's "failed stewardship of the economy", particularly where "job creation" is concerned. Only, what if the economy (and particularly the private sector) begins creating actual jobs? The latest BLS data show that this has now happened, and Mr. Romney's response is that job creation occurred "in spite of the President's policies." This may be the best he could do under the circumstances, but it seems a dangerous road to go down. After all, if jobs can grow in spite of the President's policies, the voters may ask, what do we need you for?

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