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As we approach the holiday season, despite the fact that we continue to pay ever-higher costs for energy of all types, it has been my observation that the economy is indeed much stronger than one might be led to believe. If you listen to the doom and gloom politicians and their comrades in the mainstream media, you might think that a rerun of 1929 is just around the corner. As I discuss this within the circle of people in daily life, we all agree: If a Democrat was getting BJs in occupying the White House, we would be hearing about the most wondrous economy that has ever been. Instead, a Republican sits there and gets no credit for a good economy because the gatekeepers of the news have decided they won’t ever mention it– except of course, when specific pieces of bad news get in the mix…
Then it’s above-the-fold screaming headlines in the so-called "newspapers of record" and delivered breathlessly by the newsreaders of the network "news" programs.
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Writing in The American magazine, our friend [and frequent MTNP radio guest] Liz Mair observes much the same, and carries this reality to its logical conclusion: Americans, not aware of how relatively good the economy really is, might decide to make a switch in leadership and economic policy next November, thus ending things like tax cuts trade expansion that many believe is the driving force behind our robust and resilient economy.
[T]here appears to be a gap between economic reality and public perception. Unemployment and inflation remain relatively low, and the economy has experienced 24 consecutive quarters of growth. It’s clearly in better shape than most Americans believe, thanks in some measure to George Bush’s pro-growth policies..But now Americans seem inclined to scrap an economic agenda—tax cuts and trade expansion—that has delivered positive results. A recent Wall Street Journal/NBC News poll showed that most Americans have become skeptical of free trade. According to an earlier poll, Democrats hold a double-digit lead as the party that would best handle the economy. Moreover, Gallup polling from September showed that 54 percent of Americans believe that Democrats will do a better job of keeping the country prosperous, compared to just 34 percent who said the same of Republicans.
Liz notes that with the Iraq front settling down and terrorism held in check here on the homefront, the economy is poised to take front and center as the main focus of the upcoming election. If we don’t watch out, given the above-noted facts, we might find ourselves with a Democrat in the White House come January ’09, hatchet in hand, ready to kill the golden goose…
