You might see this possible future headline if the bailout tanks. Think Obama will gain votes if the bailout fails? Think again.
Normally, people vote their wallet, and will change parties if the economy has gone sour before the election. The sitting President is blamed for the economy and the candidate from the other party is elected. Based on this history, the Republicans will not gain the Whitehouse this year unless the economy turns around, like right now.
Maybe the opposite will happen this year and the Democrats will be blamed. For instance, in 2006 Congressional control was given to the Democrats by the voters. No economic problems were fixed and we're in economic hot water right now anyway. So the Democrats fixed nothing and what is to say that a Democratic President will be able to make any difference either?
Will the economic problems will become so severe by election day, that they will supersede party lines? In other words, Americans won't be asking which party can fix the problems, but rather which person or candidate pair can fix the problem. Yes, Bush is disliked, and obviously something went wrong during his 8 years, but the critical question on voter minds might be 'Who can fix this mess before it gets any worse?' Assigning blame does not fix the problem. Assigning blame will not bring back jobs or stop bank failures or bring the stock market back.
The economic woes have been caused by excess greed and Americans are already growing angry with the impact on their lives by the Wall Street shenanigans of the past few years. If this anger continues to be stoked by continuing bad economic news, voters will want Wall Streeters brought to justice, but, more importantly, they will want to see the financial system reformed so these hooligans cannot wreak havoc again. Those fixes must be brought by someone with strength of character and a fresh approach. McCain is widely admired as an uncompromising individual from his years as a prisoner of war. Palin is widely admired for being a reformer and a down-to-earth person. We have character and freshness in this pair. Obama and Biden do not bring these qualities.
If this thesis is true, the Republicans will win by a landslide and be given carte blanche by the voting public to initiate any changes immediately that will turn the economy around. Drilling everywhere will be opened, Wall Street will be given no more bailouts, the Fed rates will be increased to battle inflation (actually the Fed should be closed down and monetary control given back to Congress but I doubt that will happen), and so on.
Public sentiment in favor of the new government may in fact be at such high levels that such support of our government may not have been seen since the days of our founding fathers. The return of a founding father/mother in the form of the McCain/Palin ticket: Maybe we would actually have a chance to turn this economic crisis into something constructive.
Keep taking your medicine: Cod liver oil is good for you.
CodLiverOilGuy
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