How Will the Recession Impact the Race?

Something the MSM and pundits are not talking much about is how the impending 2008 recession is going to impact the campaign stump. Exit polls in New Hampshire, and other national polls, indicate that the economy has become the most important issue for voters.

Our economic health -- rather than IRAQ, security and social issues such as "gay marriage" or abortion -- might become the defining issue for this presidential race. Who will best capitalize on the old Bill Clinton slogan "It's the economy stupid"?

While everyone is talking about "change" and connecting with voters on a personal, emotional level, the tune might turn more practical as the middle class' standard of living continues to decline rapidly. The candidates will need to start answering specific questions about how we are going to recapture a healthy, growing and equitable economy. How we go about implementing "The Great Repair" after the Bush administration's destructive policies. Questions about our economic leadership in the world, China, the deficit, financial equity, competitiveness, globalization, jobs being outsourced, corporate responsibility, tax policies, etc. need addressing.

The primary season might be over before the economy takes it's most severe dive, but the economy will become even more important during the general election. How could this affect the democratic candidates?

This could hurt Obama if he is perceived as being too inexperienced. People might not afford themselves the luxury of voting for someone exciting and inspiring and instead turn towards the pragmatic.

Clinton might benefit since she is seen as more practically experienced. Bill Clinton's presidential legacy of economic growth and a balanced budget wouldn't hurt either.

A slowing economy might also benefit Edwards. His message of equity for the middle class, fighting entrenched interests and taking on corporate greed could resonate.

In a presidential race already full of surprising twists and turns, the economy will be yet another wild card thrown into the mix. How do you think the recession will impact the primaries and the general election?

Comments

[Tellmethetruth]

http://www.opensecrets.org/bigpicture/blio.asp?display=Total&Cycle=2000
Business donated $1,228,476,385 of which Democrats got $513,445,271 and Republicans got $705,068,823 Labor gave $90,187,531
The Grand Total donated for 2000 elections was$1,633,534,367 Democrates spent $722,594,512 Republicans spent $895,338,890

http://www.opensecrets.org/bigpicture/blio.asp?display=Total&Cycle=2004

Business Corporations donations $1,510,293,157 Democrats received $672,278,568 and Republicans received $832,497,466
Labor gave $61,702,483
$Grand Total spent for 2004 elections $2,031,675,877 of which Democrats spent $968,131,070 Republicans spent $1,055,173,534

http://www.opensecrets.org/bigpicture/blio.asp?display=Total&Cycle=2006
2006 Election:
Business donations total $1,133,433,773 of which Democrats got $491,114,294 Republicans got $625,787,189
Labor $66,670,698
Grand Total spent in 2006: $1,580,110,253 Democrats spent $737,487,617 Republicans spent $818,599,117

Bottom line: 2004 Election cost $2billion to elect a President. Most of that money raised went to the Main Stream Media - They have turned our elections into a major business in which money changes hand from one pocket to the next.

Democracy is a commodity, bought and sold on the free market with our tax dollars and our votes.

[ljsfolly]

All I know is this recession scares me as it should all who are not dead yet. It isn't all that far from depression as when you look at all of the areas that make up the economy the outsiders were not a huge problem like they are now. All those out of country investor will be climbing in to either buy up more or grab what they can from the pile before it's gone. After all the investors from other countries including china have been quietly building their holdings for some time. It just might come to that we have been taken over in the idea like a computer game when eveyone by the US has all the credits.

[Halsey]

First I must opine that Bill Clinton got LUCKY with the econonmy...and presided over the dot.com boom...and W inherited the bust...
Bill Clinton was president when Utilities became a free for all, unregulated industry..givig us the Enrons of the world.. so let's quit lauding Bill C!..please (and yes..I voted for him twice..given my options f Bush, Dr. and Dole)..

Ecomonics say a recession is 2 quarters of negative growth in the GNP...(and a few other tidbits)...I say...recession is more personal..it's when your job is outsourced...it's when you cannot afford healthcare.. so, yes...the recession is here for millions of Americans...

[mamacat]

I am sure the Republicans will spin it so that, from their point of view, everything they did wrong for the last umpteen years is the fault of the liberals. Therefore, vote Republican.
On the other hand, if things go well, they'll say they did it in spite of the liberals, so vote for them.
The outcome is the same. Truth loses.

[Sundialsvc4]

Instead of questioning what will happen to this-or-that candidate, confront the true question of what will happen to this entire charade that is now masquerading as a Presidential race.

This show started nearly a year ago, which is far too soon, and it has never been anything other than a distracting side-show. It still is.

Turning people's attention away from the war, and from the deep and widespread criminal behavior that gave rise to it. Trillions of dollars have been stolen from our treasury and by embezzlement at our banks, and all of it "authorized" by nearly-unanimous votes taken in the dead of night.

This show isn't working. The truth. It is time for truth.

[NABNYC]

Bush and his corporate insider friends will try to hold the whole mess together until the end of the year, then turn it over to the Democrats and watch it collapse. The Democrats will be blamed for the economic devastation even though Hillary will slavishly follow the Republican economic policies. Republicans will claim that they can solve the problem and will re-take the white house and congress in 2012.

The Republicans will then continue the neocon plan, as if the Democrats had never existed. They will further cut taxes and will end most spending on social programs. The public education system will be turned over to private enterprise. Many of the major assets of the country will be sold off to foreign investors (Can you say "clear-cut logging" of the national parks and "beverage plants" for the lakes and streams?).

All roads will be toll roads. Bus and plane-loads of cheap labor will be brought into the country every day driving over the bodies of the unemployed and desperate unemployed Americans.

Privatized police goon squads, such as Blackwater, will patrol the neighborhoods and businesses of the wealthy, and will have complete immunity from any liability for death or injury caused during their "defense" of the elite.

The entire TV, radio, newspaper, and internet systems will be sold to Rupert Murdoch, and he will broadcast nonstop that "We Are Happy," and "Stop The Terrorists," showing photos of unemployed and poor Americans and offering rewards for their killing.

The top 20% of the country will benefit enormously, and the bottom 80% will be plunged into a nightmare of unemployment, inflation, crime (oh yeah, no money left for police), privatization of even drinking water, poverty, devastation, early death.

Any questions?

[January]

I do watch PBS Nightly Business Report where the issue of recession gets mentioned daily. Apart from that, isn't it ironic that for the MSM "news" takes shape as a form of denial?

That is, *bad* economic news must be catastrophic before it gets visibility. The slow but sure grinding down on working people appears only between the lines on occasional feature stories. MSM has ignored the growing income gap that has been evident since Reagan's time.

Bill Clinton benefitted from the economic troubles of Bush, Sr. Maybe Hillary will also get a bounce--but without the GOP Gingrich revolution in the background, please!

[beef33]

The reason the msm and pundits don't mention it is that it does not effect them. Again, they are all high salaried self centered fuckheads who take care of their own. I mean the likes of a Tim Russert a Chris Matthews a Brit Hume a Cokie Roberts a Katie Couric doing anything other than smooth talking things to benefit their own interests is foolish. The msm and the washington elite are all part of the same thing. Recession???? Not for those people. Fat salaries, perks, health care up the ying yang, second and third homes nice suits, multiple expensive cars private school for their kids. And if we elect the likes of McCain or Clinton. It will be more of the same. 1% of the people control 80% of the wealth and it will go higher. People get what they deserve. Hell, they elected Bush twice. How stupid can you be. Why do you think the "msm" as you call it is not covering Edwards??? Because he will raise taxes on everyone making over 200k. He will shake up the corporate stranglehold on the whole economy that is separating people from their money at an alarming rate. This is war make no mistake. He is the only answer. Otherwise forget it.

[lynnn]

Well since the "recession" started from certain policies that were in place b4 Bush well...

[WorkingClass]

The recession will have no impact on the election because all the candidates hold the same view. They are against it.

[andygaus]

The question is not a "slowing economy," but an out-and-out class war. We need someone who is ready to be frank about that and to fight against the plutocrats on behalf of those who are not the richest. So far it looks like only Edwards is ready to fill that role.

[radiclib]

Of course, the recession will help the Democrats. The more they talk about the economic royalists ----- as FDR and Truman did ----- the more support they will gain. The problem is that too many Democrats are now ``Republican Lite.'' They have sold out to the same corporatist elites. Edwards is the only one who dares to speak up in this way.
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[usna73]

Obama benefits from the recession that is already upon us. I think people (especially independents) want new ideas to solve economic problems as well.