Amid grim economic news, Democrats contemplating his re-election bid find two reasons for hope. One is the multitude of weaknesses among the Republican presidential candidates, who might not be able to sell beer on a troop ship.
The other is that bad economic conditions need not be fatal—as demonstrated by Ronald Reagan, who presided over a serious recession in his first term only to win 49 out of 50 states in 1984. With more than a year to go, the economy has plenty of time to rebound, lifting Obama to victory.
There are only two flaws in this logic. The first is that Obama's economy makes Reagan's look like the end of the rainbow. The second is that it shows no signs of getting appreciably better.
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