And none other than James Pethokoukis agrees with me. He writes that the factors determining Obama a One-Termer are a slow economy, miserable voters, and economic anxiety.
But the Mother of All Charts is this one:
(date from American Century Investments)
You can see that whenever real GDP went down, with an attendant spike in inflation, the incumbent lost the election.
Jimmy closes the article with this:
|Now perhaps the economy is about to ignite. Or perhaps Republicans will pick a terrible nominee. Or perhaps some international crisis will make the economy less important. Or perhaps voters will simply give Obama the benefit of a doubt since he did inherit the Great Recession. But Gallup already has his approval at just 40 percent (with the RealClearPolitics average at 43.5 percent.) Another year of high unemployment and show growth — much less a double-dip recession — seems likely to make Obama a one-term president.|
The chances of our economy "igniting" are slim to nil. The economic incompetence of our policy-makers, led by Obama, virtually guarantee that no ignition will take place within the foreseeable future.
With oppressive regulations rolling out from the EPA and, ObamaCare ready to add thousands of new bureaucrats to the already bloated Federal government - we're in for a long ride.