The story that most quickly comes to mind when people talk politics and the upcoming elections is that the economy is still in rough shape. Is it too late for Democrats to change that story? Yes and no.
It is definitely too late for congressional Democrats. Most people would say that Democrats have had two years to fix the economy (actually, they’ve controlled Congress since 2006, so they’ve had four years), and our instant gratification society wants change. Democrats might hold on to power in Congress, but they will definitely lose seats, making it more difficult for them to do anything of substance.
It is a different situation for President Barack Obama though. When Bill Clinton got elected in 1992, he was full of optimism. However, when Republicans made a strong showing in 1994, people predicted the worst for Clinton. But he was re-elected by a comfortable margin in 1996. The same scenario could play out for Obama in 2012.
If President Obama is going to survive, though, he might need to follow Clinton’s example and change both his agenda and his rhetoric. Will President Obama decide to demonstrate flexibility or perseverance? I don’t know–that’s another story.