These are difficult times we are living through. Unemployment is stubbornly high above 8%. The country has produced less than 100,000 net jobs each of the last 3 months. The growth rate is anemic at less than 2%. The country’s huge debt is hanging over our heads, and Washington seems unable to address these or any other problems. People are coming to terms with idea that there is a “new normal”, with experts telling us we must lower our expectations when it comes to the country’s and our own financial success. We all need to start talking to our friends about how they must burn in their memory the difficulty of this moment in time. This is the best way to combat the fact that the booming economy 1 year from now will look like it was so easy to achieve after about 6 months of a Romney presidency.
The current President has blamed everyone and everything for the weak economic recovery. George W. Bush, tsunamis, earthquakes, the euro crisis, the debt ceiling negotiations, rich people, and greedy businesses headline his list of culprits. The real fault lies in his failure to realize what most former presidents understood and Calvin Coolidge put this way, “The chief business of the American people is business.” If you spend most of your presidency implementing new taxes, new regulations, new costs, and new obligations on business, they will become cautious. When you run for reelection, and promise to double down on more of the same, they will almost completely stop hiring or investing. This is what has led to the probability that Mitt Romney will be elected President of the United States.
Let’s track where we are headed in the next year. This will be a very divisive campaign to endure. With the amount of money being raised, and the incumbent becoming desperate it will get very ugly. The economy, stock market, and attitude in the country will get worse before they get better. The President will point to republicans, upcoming droughts, hurricanes, and perhaps locusts for the still stagnant economy. There will be a moment, when the majority of people will believe that Romney will win. The positive signs will start in the stock market before the actual election, and it should accelerate right after election day. This rise will be improperly historically credited to President Obama, but it will be the first sign of optimism in the economy. After Inauguration Mr. Romney will start tackling the hard problems before our country, but it will be the ending of attacks on business that will spur our economic growth. The liberal media may be tempted to call business leaders racist for not taking risks under President Obama, but will probably just decide to report the narrative of how easy the recovery was.
The condition of our economy is pretty awful right now, and the President is blaming whoever or whatever he can think of. The American people seem to realize that an excuse for failure is not the same as success and will vote accordingly. Next year there will be hurricanes & floods, Greece or other countries may leave the Euro, and yet our economy will be humming due to leadership that understands how business works. The turn will be very quick as confidence returns to the greatest economy ever. Don’t let your friends forget what it was like a very short time ago. When a Democrat tries to make the argument that it was easy to get the economy going, turn to them and say, “You’re right we just had to change Presidents.”
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