Earlier today, we learned that President Obama believes unemployment will rise in the coming months. This was a clear indication that, despite the Administration’s highly touted stimulus plan, top advisers do not believe the economy will improve. Shortly after making these claims, Obama surprisingly took full ownership of the economy. Previously, Obama has placed blame on George W. Bush for the continued economic troubles, but now he is taking responsibility for the lack of improvement during his own time in office.
In Michigan on Tuesday afternoon — hours after he said he expects unemployment numbers to rise — Obama assumed sole responsibility for the economy while also taking a swipe at his political opponents.
“I love those folks who helped get us in this mess and now say, ‘This is Obama’s economy,’ ” Obama said.
“That’s fine. Give it to me … So I welcome the job. My job is to solve problems. Not to stand on the sidelines and carp and gripe.”
This seems like a strange move. Voters still blame the Bush Administration for failing to regulate markets, so Obama could continue deflecting criticism on his predecessor. But there may be a keen strategy at work here. By making it clear in the same day that he expects unemployment to rise and now owns the economy, Obama has set himself up for rising above expectations. If unemployment increases, he says it was expected. If it falls, he takes credit for creating jobs. Regardless of the short-term, America’s economy will grow. By asserting his control now, Obama will take full credit for the long-term gains.