Send a Tweet
Most Popular Choices
Share on Facebook Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds    H3'ed 10/10/14

It's Still the Economy, Stupid!

By       (Page 1 of 2 pages)     (# of views)   2 comments
Author 93
Follow Me on Twitter     Message Bob Burnett
Become a Fan
  (23 fans)
- Advertisement -

A month before the November 4th mid-term elections, the competition for control of the Senate is neck-and-neck. The improving US economy hasn't increased Democratic prospects. What explains this?

On October 3rd President Obama touted a milestone, the US 5.9 percent unemployment rate. Under the Obama Administration, the economy has experienced 55 months of job growth and added 10.3 million private sector jobs. Some experts predict that the US will reach full employment by late 2016.

Nonetheless, US voters aren't convinced. The October 1st AP-GfK poll found that 92 percent of likely voters called the economy, "an extremely or very important issue." Only 38 percent of likely voters described the economy as good. When asked which Party would do the best job handling the economy, 36 percent said Republicans versus 31 percent supporting Democrats.

- Advertisement -

In 2012 the Republican economic message was: "Where are the jobs?" In 2014 they've struggled to find a message other than: "Blame Obama." When asked about what seemed good to be economic good news, the 5.9 percent unemployment rate, House Speaker John Boehner quipped, "Instead of trying to convince Americans that things are great, Washington Democrats ought to show they're serious about helping middle-class families get ahead, not just get by." On October 2nd Republican National Committee Chairman Reince Preibus unveiled 11 principles "for American renewal." The GOP economic principle was: "Start growing America's economy instead of Washington's economy so that working Americans see better wages and more opportunity."

Three reasons explain why Democrats have had difficulty gaining traction with a positive economic message.

- Advertisement -

1. Republicans and Democrats listen to different news sources. A recent Public Policy poll found that 69 percent of Republicans trusted Fox News. Democrats get their news from many other sources with PBS the favorite.

As a result, Democrats and Republicans interpret economic news differently. A recent Pew Research Poll showed that 46 percent of Republicans thought the "job news" was "mostly bad" compared with 26 percent of Democrats and 31 percent of Independents.

2. The US economy is complex. While there has been an overall improvement, problems persist. On October 3d, President Obama said, "Our broader economy in the aggregate has come a long way, but the gains of the recovery aren't yet broadly shared."

- Advertisement -

During this recovery there's been a "hollowing out" of the middle class: the erosion of decent middle-class jobs. Most of the recovery proceeds went to the top one percent. A recent chart showed that during the Obama recovery (2009-present) average income growth was 6 percent. But the top 1 percent experienced income growth of 31.4 percent and the bottom 99 percent had a pitiful .4 percent. A recent study by the Center For American Progress found: "For a typical median income married couple with two children, the collective cost of basic pillars of middle class security -- including child care, higher education, health care, housing, and retirement --rose by an estimated $10,600 between 2000 and 2012" but [the family] earned less than one percent more."

The hollowing out of the middle class has muddied the 2014 Democratic message. Washington Post columnist E.J. Dionne observed: "The unemployment rate is way down, but it's still not low enough to create rapid and widespread wage growth" This tension is far more difficult for Democrats to deal with than it would be for Republicans, were they presiding over exactly the same recovery. Democrats" have made their living as the party that lifts up the many and not just the privileged few."

Next Page  1  |  2


- Advertisement -

Rate It | View Ratings

Bob Burnett Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Bob Burnett is a Berkeley writer. In a previous life he was one of the executive founders of Cisco Systems.
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Ten Telltale Signs of Republican Disease

Big Liars and The Voters Who Love Them

Obama vs. Romney: The Bottom Line

The GOP Chooses Fascism

2011 Budget Battle: Obama Wins While Democrats Lose

Obama vs. Romney: The Popularity Contest