Foggy With a Chance of Increased Unemployment

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In “Will Obama Put Up a Fight?MoJo DC bureau chief David Corn traces how Obama has struggled to connect with voters on their fears and uncertainties about the economy. By spending too much time on health care, underestimating his opponents, and banking too much on banks, Obama failed to engage his base and lost control of the narrative. “It wasn’t just what Obama did, but how he did it,” writes Corn. “He did not effectively present voters with the key question: How would—how could—a post-industrial, post-dot-com, post-Big Finance economy work?” The results from a recent New York Times/CBS poll reveal some of this voter confusion; 57 percent of those polled did not think Obama had a clear plan for solving the nation’s problems, and 53 percent didn’t think he had a clear plan for creating jobs.

Unfortunately for Democrats struggling to engage their constituents on November 2, voter confusion about the economy at election time can actually hurt the economy even more. Dennis Jacobe, chief economist for Gallup, suggests that the mere presence of the midterm elections could have a negative impact on consumer spending and employment. Jacobe points to a graph of the increasing unemployment rate (see below), and writes:

Often, political opponents disagree not only about what has caused the poor economy, but also on how best to get it going again. This political rhetoric may generate even more confusion and uncertainty as the midterm elections draw near and more Americans listen carefully to the political debates. If true, this could mean the economy will get worse in the weeks ahead as political debate exacerbates economic confusion. Of course, whether it means things will get better following the elections is a whole different discussion.

Graph courtesy of Gallup.com

 

HERE ARE THE FACTS:

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Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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