I think this is the only thing that is keeping the market from tanking completely: the polls that indicate the Republicans are going to take control of at least the House.
However, if the market (and the economy) takes off, then you can say hello to President Obama in 2012. Most people vote their pocketbooks, and they don't care about anything else. That's a large part of what kept Clinton in office in 1996 (although I think there were other factors).
Maybe running Casper Milquetoast Bob Dole put a damper on Rep/Conservative enthusiasm.
It is a bit of a dilemma. If the GOP takes over Congress and things get better, Obama will get all the credit, just as Clinton did in 96. If the GOP takes over and things stay the same or don’t get better, Obama(supported by the media), will no doubt blame the GOP for the problems and say “well, if only the dems were still in power, things would be better”. No matter what happens he can’t lose.
If the dems stay in power and things get better Obama obviously benefits. The only real bad outcome for him is the dems stay in power and things get worse with him and the dems in total control(a la Carter in 80). But even if that happens, the media will say “see, the dems still held on to power even with all these bad things happening. If the GOP couldn’t win this year they have no chance in 2012”.
It is a bit of a dilemma. If the GOP takes over Congress and things get better, Obama will get all the credit, just as Clinton did in 96. If the GOP takes over and things stay the same or don’t get better, Obama(supported by the media), will no doubt blame the GOP for the problems and say “well, if only the dems were still in power, things would be better”. No matter what happens he can’t lose.
If the dems stay in power and things get better Obama obviously benefits. The only real bad outcome for him is the dems stay in power and things get worse with him and the dems in total control(a la Carter in 80). But even if that happens, the media will say “see, the dems still held on to power even with all these bad things happening. If the GOP couldn’t win this year they have no chance in 2012”.