In the beginning of the economic crisis many thought the serious damage would be limited to Iceland. Four years later, the rest of Europe is suffering and Iceland seems to be out of danger.
It’s no secret that on Election Day Americans tend to vote according to their wallets. So how Obama does in 2012 will depend on a host of economic factors currently playing themselves out.
There’s no dispute that something needs to be done about America’s runaway deficit. The spending of recent years will have to end. Now everyone is asking how much pain it will take to rein it in.