Democrats Should Be Careful What They Wish For On Election Day
Politicians from both major parties make a habit of claiming credit for any fortunate occurrence during their time in office, and of denying responsibility for anything that goes wrong. Since President Clinton had the good fortune to preside over a period of unprecedented prosperity, it’s only natural that the Democrats take credit for the strength of the economy during the 1990’s. It is also natural that they take great joy in blaming President Bush for the current economic slowdown. In the political credit and blame game, natural cyclical variations in the economy are usually ignored.
American voters have fallen hook line and sinker for the notion that the president has the ability to somehow “manage the economy”. For the past eight years, the Democrats have pointed to the record of Bill Clinton as proof that they are the more responsible stewards of our economic well being. The suggestion is that by returning to the Clinton era policies, they can recreate the economic conditions of the 1990’s. Of course it is much easier to make these claims when they are not in power and they cannot be substantiated.
Now that the Democrats are poised to take control of both the legislative and executive branches of our government for the first time in 14 years, the American people have lofty expectations of a return to prosperity. Given the economic conditions that they will inherit, the Democrats will be hard pressed to deliver. Unless they can demonstrate that the Clinton economy was a direct result of Democratic policies, and not simply a product of natural cyclical variation, it will likely be another 14 years before they are in power again.