Democrats Unlikely to Get Any Help from the Economy
Really? Gee, they destroy America’s economy and then can’t understand why the economy isn’t booming. Sheer insanity:
Democrats Face Economic Facts: Updraft Unlikely
By LAURA MECKLER – WSJ
WASHINGTON—The string of bad news about housing, employment and economic growth has led Democrats to an inescapable conclusion: the economy is not likely to improve in time to help them in the fall elections.
Congressional Democrats and the White House will continue their attempts to enact policies they believe will boost the economy—and which are also aimed at persuading voters they are working to make things better. But some officials acknowledge it is too late for these initiatives to change the economic situation ahead of the Nov. 2 elections.
“We begin early voting in about 33 days. It would be hugely unrealistic to anticipate some kind of monumental economic turnaround between now and when people start casting our votes,” said Ohio Gov. Ted Strickland, who faces a tough re-election race. “I’m having to deal with the reality of what is. You can’t wish it away. What is, is.”
Democrats won big in 2008, partly because they were able to blame Republicans for economic woes. And while the economic situation remained dire when President Barack Obama took office in January 2009, most Democrats assumed that the economy would rebound by the time they stood for office this year.
A series of disappointing economic reports has made clear that won’t be the case. The most recent one came Friday, when the government reported that the economy grew at a much slower pace in the second quarter than previously estimated. The gross domestic product, a broad measure of economic output, grew at a 1.6% annual rate, down from an initial estimate of 2.4%, and slower than 3.7% in the first quarter.
Republicans say the Democratic agenda is to blame for the bad economic news.
“Today’s disappointing GDP report caps off another week’s worth of evidence that President Obama must change course and abandon his job-killing policies to end the uncertainty that is keeping people out of work,” House Minority Leader John Boehner (R., Ohio) said Friday.
Amid the continuing economic weakness, some nonpartisan analysts now believe there is a good chance Democrats will lose their majority in the House. Last week, the Rothenberg Political report downgraded the re-election chances of five House Democrats, and the Cook Political Report did the same with 10 House Democrats.
Early next week, the Cook report expects to downgrade the ratings of an additional 10 Democratic candidates, said David Wasserman, the report’s editor for House races. The Cook report would then list nearly 80 seats as at “substantial risk,” Mr. Wasserman said. Republicans need to capture a net 39 seats to take control of the House.
These trends are driven almost completely by the bad economy, Mr. Wasserman said.
“As the window of opportunity for recovery before the election closes, more Democrats are entering the danger zone,” he said. “Most voters don’t believe there is any recovery under way.”
In Washington, Democrats hope they will get credit for legislation aimed at helping small businesses, which they plan to consider in September. A Democratic House leadership aide said some lawmakers in the party would push for another spending bill to stimulate the economy, though he said other Democrats are likely to oppose such a move.
Some Democrats argue that they have known all along that the economy would not have rebounded by now.
Sen. Robert Menendez (D., N.J.), who leads the committee working to elect Democrats to the Senate, said there was no way Democrats could completely turn around the economy in two years.
[Of course not; they're fascist DemonRats. It never enters their mind that if they just lower taxes on American businesses and cut back on the federal regulations which have been hindering businesses that the economy will immediately begin to jump-start itself. Apparently, DemonRats are mentally deficient when it comes to basic economic theory and historical fact...]
“I would have loved to have a better economic picture, but it is what it is,” he said. “I didn’t have great expectations.“
Gee, what a compelling case for shoving the Stinkulus Package, Health Care, and Financial Deform regulation down the throats of Americans… /sarcExplore posts in the same categories: Abuse of Power, congress sucks, Economics, Economy, Insanity, Obama Sucks, politics, Stupidity, Sucky Senators