Politicians reap what they sow when it comes to their false promises on the economy. One of the biggest promises they make to Americans is to place a garage in every car and a chicken in every pot. We know that is impossible, but they put it out there anyway.
What’s telling is when they are caught in traps created by those words. President Barack Obama learned this the hard way. Mr. Obama took advantage of the meltdown in the financial markets in the fall of 2008 to power past a clueless John McCain. Mr. McCain admitted on not being up to speed on matters of the economy, uttering the words that would ultimately seal his political doom, “The economy is fundamentally sound”.
Mr. Obama cited monthly job losses and the employment rate to argue differently. He termed it the worst recession since the Great Depression. He said he could get us on the right track; that we would see job creation.
In short the results have been luke-warm, and this far into the silly season, Mr. Obama need not concentrate on policies that do not have a snowball’s chance in hell on passing.
Not to say that Mr. Romney is doing any better. Arguably he is doing worse. While he takes every opportunity to roundly criticize Mr. Obama for his failures, the Harvard MBA-JD has yet to lay out a clear, cogent plan for turning around the country’s economic state.
Do I expect either man to lay out a plan for the economy? No. That’s because neither man knows what an economy is.