The real economy is different things to different people. To politicians, the economy is measured by unemployment, well at least if you’re the challenger. If you are the incumbent however, you may instead decide to look at home sales, trade deficit reductions, exports and consumer confidence.
But what does the everyday American think about that? What is the economy to you? Most have personalized the nation’s fiscal epidemic and otherwise disregarded the view of Wall Street as a whole. How stocks play out day to day is not a focal point for most. Their biggest investment is in their 401k if their fortunate enough to be hanging on to a job.
For most, Americans are more concerned with their personal banking accounts, checking, not saving; not much is left for savings these days. The common thought also is rooted in the fear of economic stagnation. The status quo has affected the markets, housing, job creation as well as growth speculation.
To form a coherent message, politicians are faced with a challenge of unifying the message to hold their political bases of voters. For example, Romney has to be against what is termed as entitlements because it represents those who are looking to cut spending for the things they don’t like so they could instead pay for the things they would much rather prefer…like tax cuts.
President Obama once supported a healthcare without a mandate, meaning it would only be your choice to purchase coverage. After running the numbers, he realized he would have to support his former opponents view, Hillary Clinton, of including the mandate-requiring everyone to buy it or face penalties. This was required to ensure the programs viability. If not, only the sick and those with pre-existing conditions would sign up, draining the programs resources.
The economy is not all things to all people. How many people care that the market closed Up 200 points today? That’s a great day for the U.S. markets yet, how does that resonate to a voter’s wallet? Housing sales in many parts of the country are also up, meaning, some people, somewhere are doing better and feeling more confident about the state of things.
The GOP exploits, “are you doing better now” questions of the electorate, Obama has countered that argument with the conversation about trajectory and his “on the right track” path theory. If voters accept former President Clinton’s view, the economy is on the recovery and if they support Clinton’s Bona Fides, Dems may be in a stronger position. However, Romney has a lot of work to do. He has wagered his victory on his corporate past. That may be a huge bet considering Dems have never questioned Romney’s success, but have effectively questioned the candidates business practices that has not always worked out well for those under his employ.
The economy is as expansive as your wallet and your stock portfolio. The take away message is, America was gravely effected with the lack of regulations, oversight and financial mismanagement over the last eight years prior to Obama. The last four years however have limped along with big ideas and no money. We have spent as much time ferociously arguing over money we don’t have. That seems to have been the biggest deficit to our nation than any war. That’s my story and um sticking to it.