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Originally Posted by smooth
I believe that the current president has control over public perception of the economy's well-being. His policies encourage or discourage people to have faith in the long-term health of an economy and encourage or discourage spending/consuming/production/etc.
That's at least one direct effect I would attribute to the sitting president.
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Yes - this is a great distinction. I agree 100%. The question is which effect Bush has had - many clearly believe that we are in economic trouble, but others believe just as clearly that their experience contradicts the numbers (and some even have numbers on their side as well). It is hard to say what the "consensus" is. My experience has shown me that the country does not reflect TFP's or NYC's demographics, so I truly have no idea. The election will tell...