Daily Archives: November 1, 2012

The state’s battleground status should not be a surprise: it has backed the winner in every presidential vote since 1960. What is unusual this time around is the suggestion of opinion polls that President Barack Obama may win a larger slice of the vote in Ohio than he does nationally; in all but one election since 1976, the Democratic presidential candidate’s performance in the state has lagged behind his national showing.

Should the reverse indeed happen this year it could only be attributed to one factor: the president’s decision to rescue the US car industry. That act has led Ohio from a double-digit unemployment rate as recently as October 2010 to a jobless rate of 7 per cent today, below the national rate of 7.8 per cent. Read more

The European Union budget is a runaway monster, and Brussels must embrace the austerity it is forcing on others. But the Commons vote for a real terms cut in the EU budget was a mistake. If the Westminster political class has given up on the EU why should European leaders bother to placate them? There may seem little point in giving anything to the prime minster of a country that appears to be walking away from Europe anyway. Read more

As America slouches towards the final days of a dismal presidential campaign where too many issues have been fudged or avoided, the one question on which the candidates have provided a clear choice is whether the rich should pay more tax.

That choice will determine whether the US falls over a “fiscal cliff” in January, when $400bn of tax increases and spending cuts are scheduled to kick in. It will also dictate the terms on which Congress and the President (whoever he is next year) must reach a “grand bargain” for taming the nation’s growing budget deficit. Read more