It ain’t over ’til it’s over
by digby
My experience of earlier recessions has always been that it takes people a good 18 months to 2 years before they believe it’s really over. I don’t know if it’s shorthand for “crappy economy” or if it’s just that it takes that long for people to shift their perceptions, but people never seem to agree that a recession is over until long after it’s technically passed. It can be a big problem for politicians, (especially when they’ve cried “green shoots” multiple times and unemployment is still high.)
In any case, this result from the latest NBC/WaPo doesn’t surprise me:
4. Do you think the country’s (economic recession is over), or do you think the (economy is still in a recession)?
Recession is over — 21%
Still in recession — 76%
No opinion — 4%
Obviously, this should be playing to Mitt’s strong suit. But it isn’t because this recession was caused by financial sector malfeasance and Wall Street greed, which Mitt represents. If he were running in a normal economic slump, his “businessman” cred might be potent. As it is, I think he’s probably the worst person to be representing the GOP. People may be disappointed in the nation’s economic performance under Obama, but they aren’t anxious to take a flyer on a wealthy legacy name who made humongous sums of money in the financial markets. It’s not a selling point on a resume at the moment.
In a way, it’s too bad for McCain that he couldn’t have run in this cycle instead of the last one. His reputation as a financial reformer (carefully nurtured in the wake of his own scandal) might have served him better.
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