It used to be the economy, stupid. We actually still thought it was.
When you have close of half of the citizenry shielded from economic downturns by the mandatory entitlement benefits and years of unemployment benefits, then a growing economy has no urgency.
Job creation is not the rallying cry it once was either. With people receiving enough government benefits to buy the necessities of life plus quite a few frills, then what’s the impetus in getting a job where you may actually end up with less take home pay than you’re getting in government benefits?
We mistakenly assumed that people truly do want a growing economy and jobs. But clearly a majority do not care either way.