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The Day the Hope Died

Hope has died, from Ben White, Politico [1]:

President Barack Obama is heading into his reelection campaign with a flagging economy that appears incapable of producing the sustained job growth needed to push unemployment below crisis levels.

And there appears to be very little he can do about it, at least in the short term.

The political gridlock in Washington, the drag of a decimated housing market and the lack of a clear driver of faster growth beyond a newly inflated tech bubble have combined to limit the administration’s options and lock the economy into dismal and seemingly permanent weakness

It seems just a few short months ago that Dumbo, b/k/a  Barack Obama was brimming with hope, and the media was swallowing it all.    No more.    The President has no plans and the media is out of hope.