In the 1992 presidential race, James Carville, the political strategist for Democratic Party nominee Bill Clinton, coined the immortal phrase, “It’s the Economy, Stupid” in response to media questions about the rationale for the campaign.

Clinton’s opponent, President George H. W. Bush had won the first Gulf War in 1991 and had enjoyed massive popularity in the aftermath. However, by the following year, voters were distressed about the condition of the economy and fired Bush, replacing him with the smooth talking, but morally questionable, Bill Clinton.

Although Americans feel pride about military victories, “people vote, their pocketbooks.” Over three decades later, the same dynamics are at play in this presidential race.

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