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November 02, 2010


I agree with Matt Bai that economic luck plays a big part of a politician's success, especially at the state level. However, his column illustrates a common cognitive dissonance. On the one hand, the stimulus bill did a great deal of good to the economy and was worth its trillion-dollar cost. On the other hand, there's nothing anyone can do about the economy. It wanes and waxes in cycles that we cannot control.

IMHO uncertainty about what the government will do has been a major factor in the continuing recession. If the election results in divided, stalemated government, that will reduce the uncertainty and encourage economic recovery. In that case, I suppose the public will give credit to the President and re-elect him.

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