February 25, 2008

It's the economy, stupid!

Bill Clinton's "War Room" during the 1992 campaign had the poster "It's the economy, stupid!" prominently on display. It was the brainchild of James Carville, one of the most original, and successful, political consultants of the Nineties. This year, according to Rasmussen Reports, "The economy has emerged as a top voting issue for Election 2008," because "During the past week, consumer confidence fell to the lowest level of the post-9/11 era." It's no surprise that, facing the social catastrophe of millions of families that lost the homes in the subprime mortgages mess, "most Democrats believe that reducing the income gap between rich and poor is more important than creating economic growth." Are Clinton and Obama proposing anything substantial on this front?
The deep economic divisions inside the American electorate have been Jeffrey Stonecash's object of analysis for many years. Stonecash, who teaches at the Maxwell School of Syracuse University, recently wrote Split, an important book about political trends in the USA. You can also read an interview with him here at America2008.