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News Link • Economy - Economics USA

GARY SHILLING: It Doesn't Matter Who Wins -- The Economy's Screwed Either Way

•, Henry Blodget

Tonight President Barack Obama and Mitt Romney will meet for their third and final debatebefore Election Day.

The latest Gallup poll has Romney leading Obama 52% to 45% among likely voters but Nate Silver, founder of the New York Times' FiveThirtyEight blog, says Gallup is the only poll showing Romney ahead. The latest NBC/Wall Street Journal poll has the candidates tied at 47% apiece among likely voters.

Foreign policy will be the focus of tonight's debate, but it's the economy that's more likely to decide the presidential election. In that case, who is the best man for the job?
Near the end of Obama's first term, the unemployment rate is 7.8% -- its lowest level in almost four years but still historically high; the hemorrhaging in housing seems to have stopped but existing home sales recently retreated from two-year highs. Corporate profits reached record highs in the second quarter but seem to be retreating in the latest third quarter earnings reports.

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