I don’t want to say Democrats’ campaign to keep control
of the Senate has been a joke. But you can really only do it justice by
reaching back to Henny Youngman. Take my seat, please.
Thursday’s announcement that the economy grew at a 3.5%
annual rate in the third quarter — making for six months of blistering 4%
growth since the polar vortex — reminds us how foolish Democrats have been to
avoid talking about the economy or the president this fall. Poor Barack Obama.
Who ever solved an historic crisis and still had this many electoral cooties?
Everyone gets that Democrats in West Virginia, South
Dakota and Montana had to run away from Obama to win seats held by retiring
Democrats in states that Obama lost by a mile. Incumbent Dems in Louisiana and
Arkansas had similar problems.
But that narrative of 2014’s election has proven
exaggerated. If Democrats lose the Senate, and most forecasts make that about a
two-out-of-three chance, it will be because they blew states Obama won twice.
To get to 51 seats, in most scenarios Republicans need to win Iowa, Colorado or
both.
Dems are giving those purple-to-blue states away, if late
polls hold up. And it’s because they have run away, especially in Colorado,
from records that should have them coasting.
It’s simple, fellas.
The unemployment rate has fallen from 10% in 2009 to
5.9%.
Unemployment hit 10% months after President George W.
Bush left, and is now in the fives — 5.9% in September, and likely to be about
5.5% when new senators are sworn in. The Standard & Poor’s 500 SPX,
+1.17% lost half of its value to hit 666
in March 2009 — devilish indeed — and reached 2,000 last month. The federal
deficit has been cut by two-thirds. Even the Affordable Care Act, hobbyhorse of
right-wingers everywhere, had insured 10 million new Americans and produced the
lowest health-care inflation in decades.
In other words, you say: “My opponent doubled
unemployment, my allies and I cut it in half. Housing and stocks — your
retirement — collapsed under them, and stocks surged with us in charge. Bonus:
We got health-insurance companies off your back about pre-existing conditions
and (hello, seniors!) saved Medicare from bankruptcy.” All true. And you can
say it without even mentioning Obama.
Yet, not a single Democratic Senate candidate willingly
takes credit. Success, in Dem-land, is an orphan. “On the No. 1 issue, the
economy, Republicans have more than doubled their April lead over Democrats, to
11 percentage points,” Gallup reported Oct. 13.
Take Colorado. Or “Take Colorado, please” as
incumbent-who-deserves-to-lose Mark Udall seems to say.
Udall took office in 2009. Colorado unemployment hit 9%
in early 2010, three times its level under President Bill Clinton. Now it’s
4.7% and falling fast. Denver has the second-lowest unemployment of any major
U.S. metro. Plus, 300,000 Coloradans got coverage under ACA, slashing the
state’s uninsured rate 45%.
One needn’t be a genius to write this ad:
“I’m Sen. Mark Udall. When I took office, Colorado was in
trouble. Unemployment had doubled. Wages were falling. I helped cut Colorado
unemployment by nearly half, and wages came back. I helped write laws that made
our state a leader in wind and solar, and cut the deficit by two-thirds. I made
health-insurance companies stop discriminating against pre-existing conditions
and got 300,000 Coloradans good insurance that covers contraception and
protects choice. I’ll move forward on women’s rights, the environment, and the
economy. Cory Gardner would turn the clock back.”
It’s all true, at least by politician standards, and
mostly stems from 2009’s stimulus and the ACA. It even mentions his opponent’s
past opposition to birth control, Udall’s pet issue. And it omits “Obama” and
“Obamacare.”
Instead, Udall is spending the campaign’s last week
harping on social issues as if he were Pat Buchanan. Asked by MSNBC’s Rachel
Maddow what separates him from Gardner, Udall mentioned climate, immigration,
birth control and gay rights. He didn’t bring up the economy — the #1 issue in
Gallup’s polling — or health care.
This wasn’t unusual: the Denver Post endorsed Gardner,
saying Udall’s “obnoxious one-issue campaign is an insult to those he seeks to
convince.”
In the summertime, Democratic strategists told me the
improving economy would simply let Udall and other Democrats stop talking about
jobs; Udall’s campaign said it would let him focus on social issues and
turnout. That strategy produced a 15-point swing in polls in Gardner’s favor
between July and September.
If Democrats lose, this will be why. By 2016, when they
run for president with unemployment likely to be in the fours, maybe they’ll
figure it out.
Median Household Income Declines for Second Year
ReplyDeletehttp://www.bloomberg.com/video/median-household-income-declines-for-second-year-UtlgtwW1QvO1v9KwZjiq0g.html/
One interesting nugget in the June jobs report was the rise in the number of people who worked part-time.
DeleteWhile it’s a number that flops around from month to month — the standard deviation is 287,000 — it jumped by 799,000, which was the largest one-month gain since January 1994. At the same time, there was a 523,000-person drop in full-time workers, the first decline since October.
“It is unusual,” said Stuart Hoffman, chief economist at PNC Financial Services Group. But he said it could be noise. And he notes that most of the part-time rise in June was not in those who want to find full-time work but couldn’t, and instead in those who voluntarily opted to do so.
One concern with the Affordable Care Act was that some small employers might opt to get around the 50-person work requirement by replacing full-time workers with part-timers.
http://blogs.marketwatch.com/capitolreport/2014/07/03/part-time-work-jumps-in-june-by-nearly-800000/
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