It's Still the Economy, Stupid

The Wall Street Journal ^ | 09-09-09 | By DANIEL HENNINGER

[GOP_Lady]

This could be America's greatest failed presidency.

It's been a long time since James Carville said the most famous thing he ever said: It's the economy, stupid. That famous phrase was in fact part of a sign hung in the Clinton campaign headquarters in 1992. There was a sense among the electorate in the fall of 1992, not entirely accurate, that the economy was foundering under George H.W. Bush. Bush lost control of the public's perception of the economy, and then he lost the presidency.

Why with unemployment heading above 10% was Barack Obama on TV last night draining a dwindling reservoir of presidential capital on health care? Redesigning the 17% of the economy that is health care appears to be the siren song of Democratic presidencies. Mr. Obama's crew has famously said it wouldn't make the mistakes the Clintons made on health care. How calling forth both houses of Congress in prime time to join him in betting the ranch on health care qualifies as smarter politics than the Clintons is a mystery.

[GOP_Lady]

[Starboard]

The most recent Wall Street Journal/NBC poll has 87% of the public somewhat or very dissatisfied with the economy. The unemployment rate is likely to go above 10% for all 2010. Whatever GDP growth may occur, there is no evidence of new-job creation. Gold's price has risen above $1,000, suggesting inflation is swimming below the economy's flat surface. China is stockpiling gold and worrying out loud about the weak dollar. A U.N. panel said this week the world should abandon the dollar as the world's anchor currency.

The Obama cabal has taken its eye off the ball in pursuing health care and they're going to strike out on the economy.

[webstersII]

“You never want to let a crisis go to waste.”

Hey, Rahm, be careful what you ask for.

You thought the economy was your crisis to exploit but what you got was a tiger by the tail. Now what you gonna do with it?

[God luvs America]

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