Why 2008 Is Looking Like 1992 (Update No. 4)

More tough economics news helps the Democrats.


The International Monetary Fund just cut its estimate for U.S. growth this year and next to 1.9 percent. Now plenty of economists think that's too low. (Then again, a new poll shows that nearly half of Americans—46 percent to be exact—think we're already in a recession even though the economy grew briskly last quarter.) But if the IMF is right, it will be one more factor helping Democrats next year. I can already hear Democratic presidential nominee Hillary Clinton (or one of her rivals) echoing the rhetoric of the first Clinton-Gore campaign next year: "Are you ready for change, America? Gas prices are up; home prices are down. The trade deficit is up; the dollar is down. Health costs are up; jobs and wages are down. Insecurity is up; hope is down. Everything that should be down is up, and everything that should be up is down. America is ready for change, and change is on the way!"

(Another in an occasional series looking at how the 2008 election seems to be paralleling the 1992 election.)