Scandals, Jobs & the Economy
Obama's precariously thin margin.
By Larry Kudlow, June 10, 2013
When President Richard Nixon collided with the Watergate scandal he was a very unpopular man. The nation at the time was suffering one of the worst recessions in history, and one of the highest inflation rates, too. So Watergate sunk Dick Nixon, but for good measure, the economy sunk him even more.
Roughly 25 years later, Bill Clinton was impeached because he lied about his affair with Monica Lewinsky. But despite his personal transgressions, he never really lost his popularity. Why? The economy was roaring.
So you might say scandals are less scandalous during prosperity, and more scandalous during recession.