James Carville, the mastermind behind Bill Clinton’s successful 1992 presidential campaign, famously drilled home to those around him a simple message on what the race was all about: “It’s the economy, stupid.”
In 2020, it isn’t the economy, stupid—or, at least, not only the economy.
Traditionally, the nation’s economic performance is the most important factor driving a presidential election. Today, the economy overall, and certainly the stock market hovering over it, are strong. As President Trump is buffeted by the winds of the Senate impeachment trial under way this week, the economy represents a big safety net for him.
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