Saturday, 6 October 2012

CAN ROMNEY CELEBRATE WITH OBAMA IN THE SUDDEN DROP IN THE UNEMPLOYMENT RATE?

Barely twenty-four hours ago, it was nothing but good news for Mitt Romney and  his supporters, his campaign revived by a strong performance in the first debate. Then new job numbers came out, showing the economy adding 114,000 jobs in September, upward revisions to the July and August numbers, and a drop in the unemployment rate to 7.8 percent. The economic picture is full of ambiguity, and Mitt Romney's challenge only grows more complex.So though it took longer than
most people expected, Romney has finally made the "shift to the center" that all presidential candidates are supposed to make once they've gotten their party's nomination and no longer have to appeal to their party's base.

This has been a particularly tricky line for Romney to walk, since so many Republicans saw his transformation from Massachusetts moderate to fire-breathing, "severely conservative" (as he put it) candidate as utterly insincere. So another ideological re-imagining had to be handled carefully.
When it came in a debate in which Romney was performing with the skill honed in a thousand boardroom PowerPoint presentations, the timing was perfect. Conservatives had been at the point of panic, desperate for anything that would turn the race around. With Romney emerging from the debate with a newfound energy and momentum, they were more than happy to accept a more moderate nominee.

And more moderate he did indeed seem. Regulations? He's happy to accept them: "Regulation is essential. You can't have a free market work if you don't have regulation." Tax cuts for the wealthy? Heaven forfend. "I cannot reduce the burden paid by high-income Americans." And that videotape in which he sneered at the 47% of Americans who won't "take personal responsibility and care for their lives"? After initially defending the remarks, he was ready to make a 180 on that too. Since Obama never brought it up during the debate, Romney went on Fox News the next day and told Sean Hannity, "I said something that was just completely wrong. When I become president, it will be about helping the 100%."

As both sides understand, the trajectory of the economy matters more to voters than the place it is in on Election Day. We all remember Ronald Reagan's soft-focus, "Morning in America" ads from 1984 showing the country to be in the best of economic times. But when Reagan was reelected, unemployment was 7.2 percent, nearly as high as it is now. What mattered was that two years before, it had been 10.8 percent. Things were improving steadily, and that's what shaped voters' perception of the economy.
Today, we have an economy moving in the right direction, if not as fast as anyone would like, meaning neither candidate gets a clear advantage out of economic conditions. We have two candidates, both claiming that the middle class is their primary concern. But one of them just started saying it in the last 48 hours, and he's fighting against his own image and that of his party. It will be an uphill slog.

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