White House reporters for The New York Times predict that the market collapse will force President-elect Barack Obama to abandon for now many of his campaign promises.
If his stimulus plan "doesn't work out, he may very well be a one-term president," said Jeff Zeleny, who covered Obama's campaign. "It's hard to imagine that he could be reelected if the economy's in the exact same position four years from now."
Another reporter, Peter Baker, went on to say that Obama would have to give up fulfilling promises of universal health care and carbon emissions caps this year because of the economy.
Media Matters questions the dire predictions:
Funny, we don't recall any Times reporters suggesting Bush would be a one-term president days before his inauguration. But of course we do remember lots of reporters and pundits announcing that Bill Clinton had failed in his first month in office.
Note the double standard?