Fairly or not, the President of the United States tends to get the credit and blame for the economy. If we have economic growth, the President does well. If we have an economic slowdown, the President gets blamed.
This President is probably going to do his best to blame China and the Republicans who, he will argue, should just do something. Never mind that the Republicans have given Obama virtually everything he wants.
But now comes word that Joe Biden is probably going to run for President. What had been set as a coronation for Hillary Clinton will become a dog fight for donor money and passing of blame. Clinton will now probably go after Obama’s record more directly and as the economy flounders, she will pass on the blame to Obama and Joe Biden. After all, if the economy is floundering, good luck Joe.
This makes it all the more critical that the GOP gets it right. But here’s the thing — Presidents tend to get the blame. It won’t take much for the GOP to get it right. In the meantime, the President’s Vice President will have to explain why it is not his fault while the President’s former Secretary of State tries to make the case that Biden, not Hillary, deserves the blame.
This is going to be a spectacle. The only word of caution I have is that we should never underestimate the ability of Republicans to snatch defeat from the jaws of victory.
By the way, whatever happened to the “Summer of Recovery”?