The Economy Made Obama Win Persuasive Essay by Nicky

The Economy Made Obama Win
A discussion on how the economy was the turning point in the 2008 presidential election.
# 145036 | 898 words | 6 sources | APA | 2010 | US


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Description:

The paper discusses the belief that when Republican candidate, John McCain, declared that the fundamentals of the U.S. economy were strong, it proved McCain was out of touch with the economic realities in America today, and it began a chain of events that led to his defeat on election day. The paper outlines the subsequent development of the economic crisis and shows how it removed any opportunity for McCain to overtake Obama on the issue. The paper asserts that as a result, the economy made Barack Obama win the presidency on November 4, 2008.

From the Paper:

"McCain's statement began a chain of events that led to his defeat on election day. The fundamentals of the economy were not strong. The subprime crisis that began in February of 2007 had begun to have a strong detrimental effect on the nation's economic fundamentals. The benchmark Manpower Employment Survey on future hiring expectations had been released the previous week and contained dismal numbers and marked the unprecedented 10th consecutive quarter of declining hiring expectations (Coombes, 2008). The day McCain made his announcement, the Dow Jones Industrial Average dropped 4.4%, a loss of over 500 points on the news that investment bank Lehman Brothers had filed for the largest bankruptcy in US history and Merrill Lynch had been purchased by Bank of America (Time Magazine, 2008)."

Sample of Sources Used:

  • Barnes, Robert & Shear, Michael D. (2008). "McCain: Fundamentals of Economy are 'Strong' but 'Threatened'". Washington Post Retrieved December 3, 2008 from http://voices.washingtonpost.com/the-trail/2008/09/15/mccain_fundamentals_of_economy.html
  • Coombes, Andrea. (2008). "Glum Outlook on Jobs". Marketwatch. Retrieved December 3, 2008 from http://www.marketwatch.com/news/story/slide-hiring-plans-worst-20/story.aspx?guid={692FAA6C-1CEC-440D-82FF-0DB56D16853E}
  • Poll results from PollingReport.com. Retrieved December 3, 2008 from http://www.pollingreport.com/wh08.htm
  • CNN exit poll results from CNN.com. Retrieved December 3, 2008 from http://www.cnn.com/ELECTION/2008/results/polls/#val=USP00p5
  • Schwartz, Douglas. (2008). "Economy Buoy Obama in FL, OH, PA" Quinnipiac University. Retrieved December 3, 2008 from http://www.quinnipiac.edu/x2882.xml?ReleaseID=1223

Cite this Persuasive Essay:

APA Format

The Economy Made Obama Win (2010, October 24) Retrieved February 26, 2024, from https://www.academon.com/persuasive-essay/the-economy-made-obama-win-145036/

MLA Format

"The Economy Made Obama Win" 24 October 2010. Web. 26 February. 2024. <https://www.academon.com/persuasive-essay/the-economy-made-obama-win-145036/>

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