June 5 (Bloomberg) -- President Barack Obama is in a
bind. All the obvious strategies available to an incumbent
president running for re-election are foreclosed to him.
He can’t run a “Morning in America” campaign in the
style of Ronald Reagan in 1984 or Bill Clinton in 1996. In
those years, the country was doing well and felt it. A
majority of the public now thinks that we are “on the wrong
track” as a nation rather than headed in “the right
direction.” The already dismal jobs picture is growing
bleaker: Payroll growth slowed and the unemployment rate
rose in May, to 8.2 percent. If voters make their decision
based on the state of the country, Obama will lose.