Whoever the next President of the United States is, he’s going to inherit a financial sector that’s on the ropes.  It will not have tanked because of him personally, either of them, but he’ll have to deal with it.

I remember when Kerry was campaigning against Bush.  Democrats were all over the media, early in the campaign, saying that we’d lost jobs under Bush, which was true.  What they hoped you had forgotten was that the economy was already heading downward in the quarter or two before Bush even go to move in to the White House, and they utterly ignored the hit our economy took after 9/11.  ("Never forget" indeed.) 

Frankly, I think the President has less affect on the economy than most people think.  The best he can ever do is make conditions better for the people to grow the economy.  Anything else is a short-term band-aid that could at least give little long-term benefit or at worst give us its unintended consequences. 

Filed under: DougEconomics & TaxesGovernment

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