As leaders in Washington turn their attention to efforts to avert a looming downturn, many economists (how many?) suggest that it might already be too late to change the course of the economy during the first six months of the year, if not longer. With a wave of negative signs gathering forces, economists, policy-makers and investors are debating just how much the economy could be damaged in 2008. Huge and complex, the U.S. economy has in recent years been aided by a global web of finance so elaborate that no one seems capable of fully comprehending it (no one but these economists). That makes it all but impossible to predict how much the economy can be expected to fall before it stabilizes (but we know it is going to fall). The answer could be a defining factor in the outcome of the presidential election. Not long ago, the campaign centered on the war in Iraq. By Peter S. Goodman and Floyd Norris, 2008, The New York Times.
Since the Iraq war is going well and no longer an issue for the presidential race, the Democrats and the liberal news media are trying to make the economy the key issue. In 2006 they believe the Iraq war was the issue that helped the Democrats win the House and Senate. This was the issue that would help them win the White House in 2008, not anymore. Now they are putting all of their eggs on the economy. Economist David Rosenburg said "The question is not whether we will have a recession, but how deep and prolonged it will be." He also said on Dec,6, 2006 that he expected the U.S. economic growth to slow to 1.7% in 2007. He was wrong. It was 3.20% the same as 2006. The liberals know that the party of the incumbent president lost the election when their has been a recession. So their plans: talk down the economy for political gain, like they think Bush and Cheney did at the end of Bill Clinton presidency. Do you think the liberals will go for a tax cut to help the economy?