As this report explains, the Fed will not come to the Democrats’ rescue, at least not in time to stave off a shellacking in November:
Fed chief Ben Bernanke said Friday the nation’s central bank would take action to prop up the economy if absolutely necessary. … He did not pledge any immediate, dramatic steps to goose growth and suggested the bank’s remaining tools might not work very well anyway. The mild statement from Bernanke, while soothing to investors, creates a potentially serious political problem for the Obama administration and congressional Democrats, some of whom are feeling their House majority slip away with every passing piece of bad economic news.
The more candid in the left’s blogosphere get that the Democrats are in very big trouble. David Corn, for example, confesses: “It doesn’t appear that Obama has forged and maintained that sort of bond with a majority of voters. Democrats were hoping that a summer economic turn-around would ease the way toward the fall elections. But no such harvest is looming.” They have only figured this out recently? Well, denial is an attractive coping mechanism. And there is reason not to freak out donors and activists with predictions of impending doom.
However, reality is seeping in, and candor is breaking out after months and months of pooh-poohing polls, assuring themselves ObamaCare was essential to their political survival, and lamely trying to sow dissension in Republican ranks (Tea Party vs. mainstream GOP!). Despondency may follow.
As the dismal news piles up and liberals give up the pretense that the economic and electoral outlook is bright, how much worse will the polling get for those Democrats on the ballot in November? And do the pollsters have models to gauge just how depressed the Democrats’ turnout will be? We’ll see, but Democrats are wise, I think, to prepare themselves for the deluge.