Of Course It’s the Economy

This year the State of the Union address, in which the president of the United States presents his vision of the country, gave Obama the charge to jumpstart his race for reelection.

With moderate rhetoric focused on economic recovery and a promising future amidst the crisis, he appealed to the middle class, who he must depend on for victory in November.

From there came the foundation on which his reelection campaign will be based. Being that the current situation is the least common denominator, it was hardly obvious that the main focus would be the economy and rescuing the immense middle class from rampant unemployment that is still at a disconcerting rate of 8.5 percent. In this view, the mention of dramatic measures, such as requiring millionaires to pay annual income taxes proportional to those paid by the majority of the population, raised a round of applause across the chamber. It was no coincidence that he brought up this issue on the same day of the morning that leading Republican candidate, Mitt Romney, had revealed his income tax returns. Having earned more than 21 million dollars in 2011, Romney will pay only 14 percent in taxes. The average is about 30 percent. It’s even clearer when you take into account that with the proposed tax relief from the second conservative contender, Newt Gingrich, Romney would not have to pay one single dollar. In an election year with an economic crisis and high unemployment, this is a point in Obama’s favor.

To highlight the imbalance, he promised to “restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.” Like a statesman, he showed that the common good of all citizens calls for unity bringing the country forward, without the distinction of political color. He used the example of the military operative that brought down Bin Laden, in which every part of the machine employed on the mission acted together for a common purpose.

All these precise, dramatic phrases can have an initial impact on the audience. Though at voting time, what is really going to matter is the pocket. That is where the fight for the presidency will be.

Obama proposed “a country that leads the world in educating its people… that attracts a new generation of high-tech manufacturing…. A future where we’re in control of our own energy…. An economy built to last, where hard work pays off, and responsibility is rewarded.” The question, of course, is why so much talk about what should be done when he’s about to complete his first term? Why hasn’t he done it already?

The answer, from his perspective, is double. He used examples in the matter of unemployment and growth that suggest the applied remedies are starting to show results. But he also skillfully took advantage of the extremely low approval ratings of the predominately Republican Congress, around 11 percent, to strike a blow to his conservative rivals for blocking his proposals that would bring the country forward.

The outlook seems to favor Obama at a time that his approval ratings, despite not being ideal, have improved in comparison to just a few months ago. His opponent still needs to be determined, and the middle-of-the-road independents need to accept that it is worth giving Obama four more years. The economy and electorate will tell.