Market Features
Analysis: When Is 'getting Better' Good Enough?
BEN FELLER
WASHINGTON (AP) — The stronger the economy gets, the more the presidential race comes down to what voters believe: Are things actually getting better? Or is it all still a mess? If the economy's direction is the key, President Barack Obama's hand just keeps getting better. A new snapshot Friday showed the unemployment rate has tumbled to 8.3 percent. That means it is almost back to where it was right after Obama took office, a time when a monstrous recession was still gobbling up American jobs. Hiring is now on a consistent upswing. Employers added nearly twice as many jobs last year as they did in 2010. With every fresh batch of economic data, the Republicans challenging Obama and the president himself try to spin the numbers to their advantage, depicting either a nation mired in trouble or one showing undeniable signs of progress. Both often seem to be true. So whichever side sways people on where to put their focus — on America's lingering economic hole or on the fact that the country is climbing out of it — will have an enormous edge toward winning the White House. Shortly after the jobs report was released, Obama sounded more confident than ever, declaring: "The recovery is speeding up." The Republicans say that's none of his doing, that improvements have come in spite of his policies, not because of them. There's still a long way to go before full recovery; federal deficits and Europe's troubles hang ominously over the U.S.; unemployment could worsen again. But there's little doubt that the brightening picture, which is also reflected in other economic indicators, has seriously complicated the messaging for the GOP. It wasn't long ago that the unemployment rate was closer to 10 percent and stagnant, making it easier for them to claim nothing was getting better under Obama. Now they have to calibrate.TheStreet Premium Services
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