With Other Options Exhausted, Bush Turns to the Economy

President Bush, not for the first time this cycle, is spending a few days talking up his economic record. He now seems to share with his father the dubious distinction of being the only President since the second world war to disprove the Fair equation, an economic model developed by Yale Economist Ray Fair that usually shows a tight fit between good economic indiciators and electoral results. Since World War II the only presidents to buck the trend have been Bush 41 in 1992, and Bush 43 in 2004. And, if the polls are any indicator, Bush in 2006 also. (See this presentation from Economist Robert Gordon for more details, especially slide 16.) NDN's chosen explanation, shared by most Democrats, is that the Fair equation only breaks down when most voters don't think they are benefiting from economic growth.

In other news this story caught my eye over the weekend.

The secret to managing your finances isn't "rocket science," Treasury Secretary Henry Paulson told a group of high school seniors Thursday."It's very simple," said the former Wall Street titan whose net worth is estimated at over $700 million. "Make sure you don't spend more than you earn."

If the irony wasn't lost on high school seniors, it certianly shouldn't be lost on voters.