Europe Bashing on the Campaign Trail

At an Obama fundraiser in Manhattan on June 2, Bill Clinton previewed a new economic script for the president’s campaign. “Why aren’t things roaring along now?” he asked. “Because Europe is in trouble and because the Republican Congress has adopted the European economic policy.” That European policy, he said, was “austerity and unemployment now at all costs.” He’d rehearsed the same line four hours earlier at a fundraiser in the private home of a hedge fund executive.

For a campaign known for its cool-headedness, there’s an unmistakable note of fear lurking in the effort to draw a line from Europe’s troubles to the GOP and Mitt Romney. The subtext: If Europe collapses and drags down the U.S. economy with it, blame the Republicans. Blame Greece. Just don’t blame Barack Obama. This is not likely to be a winning argument. If the economy does take a downward turn before November, it isn’t Europe that voters will hold to account.