February 5, 2009

Hopes vs. Reality

A New York Times interactive graphic summarizes the effect a President has in "taming the business environment" by tracking 7 economic indicators through various presidencies since 1950.
Today, Americans save less and earn a lower minimum wage — in real, or inflation-adjusted, terms — than at nearly any other time since 1950.
Can voters reasonably expect these and other indicators to change significantly after a new president takes office in January? 
Bad news is that the related article says that "many economists contend that presidents have little power over general economic performance during their terms of office, even though some things, like the minimum wage, are set by the government."

Sigh! Get ready for a depressing next few years....

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