Economic policy has social implications. I don't want to be too negative, but the social unrest in the world is increasing. In Madrid there was a demonstration against the austerity measures which numbered 65,000 people (the estimate was from the government not the organizers). There was also a huge demonstration in Lisbon the same day. The dilemma facing policy makers in every country including the US is what measures to take to rein in runaway spending and debt in a way that is politically viable. Economies do not exist in a vacuum. The mark of an effective government is its ability to steer large complex societies without causing counter productive social disruptions. The current fiscal policy debate in this country consists of one side who regard any compromise on any economic issue as treason and the other side who doesn't have a thought in their collective heads. This doesn't bode well for the Republic.

I know it is the silly season of politics but at some point shouldn't the person running for office be out of second chances? How many times can a candidate or an office holder say," that's not really what I meant to say" or" I misspoke"? If you want to hold high office shouldn't you be able to express yourself correctly the first time? How hard is this?

Finally, I believe the economy is still in some sort of OK going into the election. It feels like it is pausing which I view as temporary until the November elections after which I expect a pick up based on the resolution of uncertainty rather than an endorsement of the victorious party.