Obama’s Cloud Economy

By Dan Henninger, in the Wall Street Journal:

You just know the American economy is out there somewhere. If only someone knew which buttons to push to retrieve it from the storage cloud.

Here are three headlines that floated by on yesterday morning’s screens alone:

“U.S. Manufacturing Growth Slows Substantially”

“Housing Imperils Recovery”

“Private Sector Added Few Jobs in May”

Let it be noted for the record that presidents normally do not take ownership of a weak economy. Jimmy Carter owned the 1980 election-year economy. George H.W. Bush owned the 1992 election-year economy. Both were one-term presidents. Happily for his opponents, Barack Obama has taken ownership of the 2011 economy, a full year and half before he has to face the voters. The Obama self-confidence is famously limitless.

Still, a doubter might ask if President Obama hasn’t suffered his John McCain moment on the economy.

Read the rest here.

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