[jamese777]

Politics is perception. The normal business cycle may well move from recession to recovery during Obama’s term in office.
He will take credit for the recovery when in effect he had next to nothing to do with it. The mainstream media will assist in creating the perception that his policies were key.

[11th Commandment]

I do not think there will be a "normal" recovery because much of our problems are the result of government social engineering. Thus it will take longer for normal market corrections to take hold. For example, the government forcing BofA to buy Merrill is going to have huge ramifications and further government intervention.

As such, Obama will panic as he already is with huge government spending. 14% - 20% of GDP deficits will result in inflation.

It has been over 25 years since we have had to live with inflation, believe me, people will not like it.

Obama like FDR will just blame all the problems on his predecessor. So conservatives need to get on the record that the Obama policies are just continuation of the Bush polices. That way in 2012, we can run on real conservative free market principles instead of trying to two-step Bushonomics and trash Obamanomics.