It's the Economy, Stupid!

[loosecannon]

Obama: Weak economy drove U.S. election outcome

* Obama plays down notion vote was rejection of his agenda

* Says he plans "mid-course correction"

* Calls Boehner, McConnell "smart" and "capable"

By Caren Bohan

WASHINGTON, Nov 7 (Reuters) - Big election losses suffered by Democrats were "first and foremost" a reflection of the economy's weakness rather than a wholesale rejection of his policies, President Barack Obama said on Sunday .

"The party in power was held responsible for an economy that is still underperforming and where a lot of folks are still hurting," Obama told the CBS program "60 Minutes" in an interview.

In what he has described as a "shellacking," Republicans racked up huge victories in last week's congressional elections, capturing the House of Representatives and increasing their numbers in the Senate.

Pressed on Republican assertions that the vote was a rejection of his agenda, Obama replied: "I think first and foremost, it was a referendum on the economy."

Obama: Weak economy drove U.S. election outcome | Reuters


WORD!