Indebted State of the Union (Economist Cover)

This is rom the cover to this week’s Economist, which has the cover story “State of the Union,” looking not so much at the Federal deficit as the individual states debts.

Some of the states names are fairly clever: Califorclosia, DOh! (Idaho), Debtaware, IOU Wa (Iowa), Nada (Neveda), Horrida (Florida) and perhaps my favorite, Brokelahoma! (sounds like a new Broadway musical)

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Surprisingly, I think The Economist whiffs on why Obama lost the House in 2010:

“Mr Obama also said far too little about what most concerns Republicans and what led to his party‚Äôs defeat at the mid-terms: the deficit. Cutting hard this year is too risky; but laying out a concrete set of proposals on how to get the budget back into shape from 2012 onwards is essential.”

Um, no. Poll after poll show it was Jobs, not the deficit, that was most on people’s minds. The emphasis by the White House on Health Care reform before FInacial reform and the economy/job creation was the key factor in the political defeat.

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