Economy

The New York Times

April 29^th, 2012

http://www.nytimes.com/2012/04/30/opinion/the-economy-downshifts.html#

Summary:

Compared to the rest of the world, specifically the European markets recently, U.S is faring relatively well. However, still suffering from the aftereffects of the recession such as unemployment, the 2.2% economic growth signals that the growth has yet to be able to restore the damages caused by the recession. Thus, given the still-weak economy, people should not be too optimistic about future growths.

Connection:

For the majority of the Obama's 1^st term as president, the economy has been the top priority. Across America, the financial crisis caused by the recession, including unemployment, bankruptcies and foreclosures made daily headlines. However, as the economic growth gradually recovered, so did the approval rating for Obama, showing how a presiden'ts performance is so closely tied to the economic factors.

Reflection:

“It's the economy, stupid”, Clinton's catchphrase as he was running for president has stuck, as it has been shown how closely people link economic prosperity to presidential performance. Obama, who has witnessed the nation at the lowest points of the recession and now its recovery, has been credited with aiding its growth. For the former French president, Nicholas Sarkozy, who has been viewed to have neglected the economic problems at the domestic front, things have not been so lucky as his opponent, Francois Hollande, who like Clinton realized “c'est l'economie, stupide”, won the presidential election.