In 2012, will Obama again ask are you better off than you were four years ago?

It was announced today that the Fed is downgrading its economic expectations. Unemployment is expected to remain above 9 percent through 2011, and it is expected to be above 8 percent by the time the presidential election rolls around.

That could bode very poorly for Obama, and not just for all of the obvious reasons. Remember what Obama said about the economy in October of 2008? A refresher:

Speaking at an outdoor rally on a rainy and dreary day, Obama warned that the economy will continue to decline if new economic policies are not implemented. Borrowing Ronald Reagan's legendary campaign line – “are you better off than you were four years ago” – Obama said, “At the pace things are going right now you're going to have ask whether you're better off than you were four weeks ago.”

Obama argued that, in last night's debate, McCain offered Bush economic policies that “led us into this mess in the first place.” He charged that both Palin and McCain are trying to divert attention from the economy by attacking him.

“He and Governor Palin are out there saying all kinds of stuff,” Obama said, adding, “I can take four more weeks of John McCain's attacks, but the American can't take four more years of John McCain's Bush policies.”

Obama even released a video where he said the following:

At this defining moment in our history, the question is not 'are you better off than you were four years ago?' We all know the answer to that. The real question is, 'Will our country be better off four years from now? How will we lift our economy and retore America's place in the world?'

Maybe the economy will recover much quicker than expected, but if it doesn't, I suspect the President is going to get hammered by his own words.

Beltway ConfidentialUS

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

A view of Science Hall at the City College of San Francisco Ocean campus on Thursday, Jan. 14, 2021. (Kevin N. Hume/S.F. Examiner)
CCSF begins search for next chancellor amid new challenges

‘It’s arguably the biggest single responsibility the board has,’ trustee says

Some people are concerned that University of California, San Francisco’s expansion at its Parnassus campus could cause an undesirable increase in the number of riders on Muni’s N-Judah line.<ins></ins>
Will UCSF’s $20 million pledge to SFMTA offset traffic woes?

An even more crowded N-Judah plus increased congestion ahead cause concern

From left, Natasha Dennerstein, Gar McVey-Russell, Lucy Jane Bledsoe, Jan Steckel and Miah Jeffra appear in Perfectly Queer’s fifth anniversary reading on Jan. 20.<ins> (Courtesy photo)</ins>
Perfectly Queer reading series celebrates fifth anniversary

Online event features five writers, games, prizes

(Robert Greene/Tribune News Service)
As tensions grow over vaccinations and politics, California lawmakers face threats from public

Anti-vaccine speakers hint at gun violence during routine budget hearing at state Capitol

Dr. Martin Luther King in Sam Pollard’s ‘MLK/FBI’. (Courtesy of IFC Films/TNS)
The superb documentary ‘MLK/FBI’ clearly connects the past to our troubling present

Justin Chang Los Angeles Times Among the many archival materials excerpted in… Continue reading

Most Read