IT’S STILL THE ECONOMY, STUPID!

I’m worried the U.S. economy is about to slowdown drastically. President Obama should be worried too. The signs are not good: The housing market is at its lowest since 2002, the national unemployment rate remains above 9%, and job creation is static. On top of that, the President seems ready to make massive budget cuts just to accommodate the Republicans. That will further weaken the economy.

Had Obama pushed for a larger stimulus package and stiffer regulation of Wall Street, we wouldn’t be in such deep shit now. One thing’s for certain: If the economy tanks, even Bozo the Clown could beat the President in 2012.

Obama will need a lot of luck to get out of this mess. So will the American people.