TIME IDEAS
Obama v. Romney: Who Will Win the Economy and How?

Republican strategist Karen Hughes and Democratic pollster Mark Penn in their bi-weekly faceoff about Election 2012

Penn: It’s déjà vu all over again. Just about every election since 1932 has been about the economy, and the 2012 race is no exception.

According to a recent Gallup poll, when asked to name off the top of their minds the most important problem facing this country today, 72% of Americans named an economic issue.

Right now no one is winning the economy as an issue with critical swing voters. According to a recent New York Times/CBS poll, only 13% of independent voters are very confident in Obama’s ability to make the right decisions about the economy. Only 12% are very confident in Romney.

But Obama can, as he did in 2008, definitely win the economic issue. He did it then because in the face of an economic collapse, Obama presented himself as the steady hand with a plan. People are still looking for that kind of leadership. So far Obama has focused on the Buffett rule, problems with Wall Street and the issue of inequality.

The key to winning the economy is broadening his economic message from income inequality to the larger problems that are engulfing the country and much of the world. He has to focus more on how we can use America’s know-how to succeed in this new global innovation economy; comprehensive tax reform; and a budget deal that will give business the confidence to hire.

Over on the other side, Romney is still in the infancy stage when it comes to an economic message — and the once-moderate Massachusetts governor moved to the right during a primary in which he tried to appease the Republican base. His quick turn to embrace tax cuts and conservative policies like those of the Ryan budget plan has left him off-message and off-center. Ryan is a ticket to electoral oblivion.

Obama’s message may need some broadening but while Romney has experience in business, his shift to the right on the economy has created an opening that Obama can once again fill.

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