Saturday, September 29, 2012

Video: Is the economy still Obama?s weakness?



>>> wednesday's debate topic, domestic policy . naturally it will include the economy. now the latest polls somehow president obama erasing mitt romney 's edge on that number one issue and actually leading in some polls who would better handle the economy. president obama is also using a new line.

>> during campaign season you always hear a lot about patriotism. well, you know what? it's time for a new economic patriotism . an economic patriotism rooted in the belief that growing our economy begins with a strong and thriving middle class .

>> joining any now "newsweek" columnist and cnbc contributor, zachary carabaugh. good friday, sir. economic patriotism is a new part of the lexicon here.

>> it is a new part of the lexicon. it can mean just about anything. i don't mean to sound cynical about this. if you're for the president's economic policies , you're an economic patriot, and if you're against it, you're not. it's not a clear policy. it is a very catchy phrase.

>> it is a very catchy phrase. in addition to being a centerpiece of a new ad, former ohio governor ted strickland used the phrase to take aim at romney in his democratic convention speech. take a look.

>> mitt has so little economic patriotism that even his money needs a passport. it's summers on the beaches of the cayman islands and winters on the slopes of the swiss alps .

>> it's clearly been poll-tested, the phrase itself. is this economic patriotism code for the president selling tax hikes and selling more spending on infrastructure?

>> no. i think it really is a way of distinguishing himself from romney , being more positive about it. my take is president clinton had a great advice, and i think it was for john kerry in 2004 , which is, always run as if the economy is doing well. his point about that was if you run on the message as romney has that the economy is in the tank and the president has messed it up, you better hope that the economic data is sufficiently bad leading up to the election that that argument that has real trenches. the problem is not that the economic data is so great, it's not. it's clearly not getting particularly worse, and there's a lot of evidence it's getting a little better in terms of jobs and income. that totally removes the steam from the argument of, you've messed everything up.

>> sure. in addition to the actual data, there's some polling that indicates that people at least feel like the economy is improving, and the right track/wrong track question. a lot of folks more than six months ago saying we think the country is moving in a good directions. how does that happen? if the numbers aren't dramatically different how can people feel like things are okay.

>> you have two phenomenon that are better, house prices and stock market prices. stock market matters if you have a retirement account. a lot of americans don't, if you do it's done better. housing prices have a whole lattice of connection to job mobility and everything else. the final point about this and where economic patriotism is a good phrase is it makes you feel you're voting for the good of the country. the problem of i'm going to vote because this president's policies have failed and the economy is tanking is you're voting on fear pessimism. that is not a strong argument going forward. housing market picking up and job market stabilizing and income stabilizing and the stock market doing well. this is not off to the races, but nor is it oh, my god --

>> the bottom is falling out?

>> exactly.

>> have a great weekend.

>> thank you.

Source: http://video.msnbc.msn.com/newsnation/49215726/

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