Democratic politicians and policy activists have made much of the erosion of middle class incomes and hope to use it to their advantage in this year's election. But they have to be careful to avoid leaving the public with the impression that the economy is in such bad shape that the best that can be done is to hunker down for hard times.
“A lot will depend on how any recession plays out,” said Jason Furman, director at the Brookings Institution in Washington. “If it has blown over by 2009, most of this is irrelevant.”
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