Consider this article: http://www.theatlantic.com/politics/...conomy/240071/
With last month's dismal unemployment report and economic-growth forecasts rapidly being revised downward, it is becoming increasingly clear that it is unlikely that economic growth will be sufficient to create meaningful job growth on a sustained basis through the 2012 election.
The odds of unemployment dropping much below 8.0 percent by Election Day are quite small. Many have been pointing to the fact that no modern president has been reelected with an unemployment rate above 7.2 percent, which is technically true.
Just two years earlier, during the 1982 midterms, unemployment was at 10.8 percent. Presumably, Reagan still would have won if unemployment was at 7.3 percent; there was nothing magical about 7.2 percent.
The point is that unemployment had topped out and the economy had clearly turned around with the arrow pointing in the right direction. The best Obama can hope for is that the economy will improve from its worst point and that the arrow will be pointing in the right direction.
jimmac et al will continue miss the point, claiming that "no one" could expect us to "get out of this" in 2.5 short years. Of course, that is likely true. It is not reasonable to think that the economy would magically turnaround after Obama took office. But one would expect that things not get worse. Things have indeed gotten demonstrably worse as I and others here have noted. The response from the left has been this:
1. Give it more time!
2. <silence>It's Bush's fault! He wrecked the economy!
3. We need to invest in infrastructure!
4. Things will (hopefully) get better!
5. Republicans want to kill Medicare!
6. It would have been much worse without Obama. He saved us!
7. Sarah Palin!
Internally, I think the White House knows that unless things look better in the next 60 days, they are in a heap of trouble. There is simply no way the President will be reelected with unemployment where it is now. Given this fact, we can expect the Dems to try something drastic in the near future.
So what will they do? To borrow a phrase, they'll double-down on stupid! At least, they'll try. The Republican House will make it hard to get anything through. But they'll attempt to push through new "stimulus" spending and "emergency" measures. Best of all, they'll assail Republicans for opposing the President "for political purposes." Meanwhile, the Obama Administration will continue to place onerous regulations on business, refuse to press for tax relief while claiming they will let the Bush tax cuts finally expire, fail to pursue energy independence and print money like it's going out of style (which...uh...it is).
Obama has failed. The progressive-socialist agenda is dead. The only thing is, it doesn't seem like Obama knows it yet. But the Obamatrons and general Lefties are figuring it out, and they are going apoplectic.