Not So Fast: Economics and the Election
Economic growth will be steady no matter who’s the next president
Monday, November 5, 2012
There’s no doubt that the economy is the deciding factor for many voters. Americans are looking to presidential candidates for a fast remedy, but the reality will be far less immediate, according to Saint Joseph’s University economist Benjamin Liebman, Ph.D.
“The economy is already slowly improving, and probably will continue to do so, regardless of who's elected,” he says. “What's reasonable for the candidates to promise is that they will help set the stage for more rapid, more sustainable economic growth and reduced deficits. However, either winner will have to work with Congress to enact policies to achieve these goals, so compromise is going to be important.”
Given the likelihood that economic growth will take time, voters must consider each candidate’s approach economic issues. But Liebman cautions that this can be easier said than done.
“First, take a look at the comments that they make in the debates and their speeches, and then study what political and economic analysts say about the validity of their claims,” he advises. “Keep in mind that commentators also have biases.”
Liebman can be reached for commentary by contacting the Office of University Communications at 610-660-1222.