10.23.2012 16:49

Obama's Biggest Failure

The U.S. president has never set his public straight on the financial crisis or why the deficit has been necessary to sustain demand
By Dean Baker
 
a

As we enter the last two week s of the presidential race, the country looks to be facing its third close finish this century. While President Barack Obama is still the favorite to be re-elected, Mitt Romney has a very real chance of winning. The weak economy is undoubtedly the major reason.

Incumbent presidents usually get re-elected. The three exceptions in the last 80 years were Lyndon Johnson, Jimmy Carter and George H.W. Bush. The first was pushed out of office because of hostility to the Vietnam War. At the time, we had 500,000 soldiers involved in the war. Given the relative size of the country, this was more than ten times the scale of the war in Afghanistan today.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
Trending: U.S. Election
COMMENTS (0)
Sign up to receive our free daily newsletter
Latest Issue
On the Cover:

Rise and Fall of a Coal Boomtown


Issue 83
November, 2014

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Rise and Fall of a Coal Boomtown
Issue 83
11.01.2014

Subscribe       |       Newsletter        |        FAQ