Wausau Daily Herald Deems Economy Irrelevant in Presidential Politics

Posted by Jerry Bader on

Oh, no, they don't say that in so many words. But that's exactly what they do as part of a contortionist act in endorsing President Obama for a second term. I know the term "laughable" is thrown around far too loosely, but this truly is laughable:

• Jobs and the economy. No one, certainly not us, is satisfied with the way the recovery from the Great Recession has gone. The operative questions are not whether the economy is growing (it is) or whether it’s growing fast enough (it isn’t). It is which candidate’s policies would best aid in moving it forward.

Obama’s response to the 2008 crisis was the 2009 economic stimulus law, and it gives a sense of his approach. That law was a mixture of tax cuts, direct government spending and state aid. His jobs bills have stalled in Congress, but it’s a good bet that this type of cocktail mixture of methods to goose the economy will continue to characterize Obama’s approach.

Former Gov. Mitt Romney’s private-sector experience could well be an aid to him when it comes to managing the economy. His pro-business message of tax cuts and streamlined regulations will sound familiar to anyone who has followed the debate on economic policy here in Wisconsin. And he might well have an advantage when it comes to actually passing bills, provided the U.S. House of Representatives remains in Republican hands.

But the truth is that the economy is bigger than the president. Barring disaster, and given that neither candidate is promising massive new federal action, we expect the U.S. economy to continue on roughly its current growth trajectory no matter which candidate is elected. As a result, we cannot unambiguously award this category to either candidate.

The heart of this campaign is the debate over which philosphy better serves the economy; the liberal philosphy of bigger government and higher taxes or the conservative philosphy of smaller government that gets out of businesses way and lower taxes. No, not to the Daily Herald. The economy will do what it's going to do, no matter who is President. So as long as the economy will stay on its current slog no matter what, let's just stay the course. Yes, the economy is bigger than the presidency, but Obama doesn't believe that. He believes government can direclty guide the course of the economy. So by their own logic they should reject Obama. Actiually, logic is a strong word. This could be the most imbecilic effort to take the defining issue of this campaign off the table that you will EVER see.

Comments