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The Economy and the Election

Happy times aren’t here again.

Jul 25, 2011, Vol. 16, No. 42 • By JAMES PIERESON
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Obama came into office thinking that he would become a modern-day FDR, rescuing the U.S. economy from Republican mismanagement through public spending, aggressive regulation of business, and expansive welfare programs. The old-time religion does not appear to be working as we head into the election season. With the economy faltering and Obama out of ammunition, is it possible that instead of reprising FDR he will turn out to have been the contemporary incarnation of Herbert Hoover?

James Piereson is a senior fellow at the Manhattan Institute.

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