One of the single biggest factors in a President's reelection chances is the direction of the unemployment rate and monthly jobs numbers in the six months leading up to the election. We're inside the six-month mark now. And from Obama's perspective, the jobs numbers are headed the wrong way.
The Obama administration will continue to tell the same story that they have told from the beginning: The economy isn't healthy enough, but it's much healthier than it was under the Republicans, and Obama said from the beginning that it would be a long, slow slog.
And that, by the way, is the truth: It was always going to be a long, slow slog. The country's huge debt load, housing collapse, and financial crisis were always going to take years (if not decades) to work through, no matter what policymakers did.
Let's not forget the "Blame Bush", tsunami, lack of rain, global warming and one of my Pelosi favorites: It would have been even WORSE without the stimulus!
The chart in this article says it all. Most CEOs who spent three years trying to fix their predecessors problems and show a similar chart would be fired.
Let's hope it happens here.