Sunday, November 1, 2015

Memo To Democrats: It's Still The Economy Stupid!

"The economy, stupid" is the reminder message Bill Clinton's campaign strategist James Carville coined for his successful 1992 presidential campaign against sitting president George H. W. Bush. Carville's original phrase was meant for the internal audience of Clinton's campaign workers as one of the three messages to focus on, the other two messages being "Change vs. more of the same" and "Don't forget health care."

Most Democrats are on track to tell American voters President Obama returned the American economy to health, as the reason to vote Democrats into office in 2016.

Many American voters don't feel better off after seven years of a Democrat in the White House. Many may not only reject the "Obama made the economy better" campaign message, they may blame him for their feeling of economic insecurity.

NYTimes: Amid the global economic turmoil and seesawing markets, millions of Americans have one overriding question: When will my pay increase arrive? The nation’s unemployment rate has fallen substantially since the end of the Great Recession, sliding to 5.1 percent from 10 percent in 2009, but wages haven’t accelerated upward, as many had expected.

In fact, the labor market is a lot softer than a 5.1 percent jobless rate would indicate. For one thing, the percentage of Americans who are working has fallen considerably since the recession began. This disappearance of several million workers — as labor force dropouts they are not factored into the jobless rate — has meant continued labor market weakness, which goes far to explain why wage increases remain so elusive. End of story, many economists say.
Read the full story at the NYTimes:

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