Among the best documented relationships in political science is the correlation between changes in real disposable income and the level of voter support enjoyed by incumbent presidents. For Barack Obama, the news is ominous. Inflation-adjusted median income has fallen more sharply during the "recovery" than it did during the recession, with real median annual household income falling by 6.7 percent, from $53,518 in June 2009 — when the recession officially ended — to $49,909 in June 2011.
Given Washington gridlock, potential solutions to our economic crisis are bound to be controversial. The president could subtly pressure the Federal Reserve to institute NGDP targeting. Or he could reach for the limits of his office's powers and issue more jobs-related executive orders. Or…he could come to your local Knights of Columbus hall and give a speech…
Since September, Obama has been the featured speaker at dinners for the Congressional Black Caucus and the Congressional Hispanic Caucus, a forum on American Latino Heritage, and the annual gala for the Human Rights Campaign, a leading gay rights group. The president will speak Saturday at a black-tie dinner for the National Italian American Foundation, and in early November, at an awards dinner for the National Women’s Law Center. The Union for Reform Judaism also says Obama will speak at its December conference…
The president has also sent out his own invitations, bringing influential constituencies to the White House for Tribal Nations conferences, for Passover Seders, for Iftars.
Sure, the man gives good speech. But that's not going to enlarge voters' bank accounts. And besides, Rick Perry is already emerging as the more entertaining after dinner speaker.
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Tags: Barack Obama, Economy, Rick Perry, Unemployment