Thursday, 3 May 2012

It is the economy, stupid

I picked up these shocking statistics from the Guardian:

Last year, the census bureau reported that the income of the typical American family had dropped for the third year in a row. The median family income in 2010 was $49.445, 7.1% below its 1999 peak and when adjusted for inflation roughly at levels last seen in 1996.

How will Obama answer the accusation that the US economy has been a total mess under his presidency? By changing the subject onto some extraneous issue.

The economy is a vote killer for the Democrats.


droog said...

By blaming his predecessor. If it's fine for Tories to do it then surely Democrats in the US can do it, too.

Or are we going to pretend it's not the same case.

dearieme said...

Obama could reasonably put much of the blame on Clinton and Bush the Younger. And a fair bit also stretches back to LBJ and Nixon.

But this probably over emphasises the importance of Presidents; there's also Congress, and Greenspan at the Fed, plus an array of financial crooks. There's plenty of blame to go around.

dearieme said...

Oh, I shouldn't have overlooked another major participant: the US population. Nobody forced them to take on absurd levels of debt - itheir greed and folly is to blame too.