Pethokoukis, Economics, U.S. Economy

So who gets blamed for losing the recovery?

Image Credit: shutterstock

Image Credit: shutterstock

The web site Politix is cooking up a theory, having noticed a recent interview with Carlyle Group co-founder David Rubenstein in which the Obama-friendly businessman seemed awfully gloomy on the US economy. And from that, writer Jeremy Lott concludes thusly:

What Obama, Rubenstein and other Democrats are doing is pre-spinning a possible recession. Growth is already anemic and could go south. If the United States experiences negative growth, Democrats want the blame to fall squarely on the GOP for the two-week pause in the non-essential functions of the federal government and not on the massive, economy-wide structural disruption that is Obamacare. The problem isn’t that Democrats don’t have a case, it’s that they don’t have much of a case.

For what it’s worth, about the only mention of recession I have heard from Wall Street is a passing reference from Deutsche Bank about a “50-50″ chance in 2015. And it would be tough to blame a downturn then on a government shutdown in late 2013. Now certainly a slow growth economy is more vulnerable. That being said, I prefer to take a broader look at the macro environment and the factors influencing it, not just Obamacare and the government shutdown.

Follow James Pethokoukis on Twitter at @JimPethokoukis

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