By Jeanne Sahadi, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) -- President Obama has said if the economy doesn't turn around on his watch, voters won't give him a second term.
"If I don't have this done in three years, then there's going to be a one-term proposition," he said in an NBC interview in February.
Policy experts agree Obama's presidency will be rated on the speed and depth of the economic recovery. But they think he may only have until mid-2010 to get the economy moving in the right direction before Americans start blaming him for what ails them."If we get back to an upward economy in 2010, it'll be good. But if we're in it [longer] ... people's opinions will be formed. That's as much patience as Americans will have," said Gary Clyde Hufbauer, Reginald Jones senior fellow of the Peterson Institute.
And voters could take it out on Democrats in the November 2010 midterm congressional elections.
"Republicans could cut into Democratic majorities," said American University Professor Allan Lichtman, a political historian and presidential election expert.
What specifically needs to happen by mid-2010? There needs to be clear evidence of a recovery, with unemployment back down around 8%, production up, foreclosures on the decline, and stocks higher. "Take your headlines today and flip the verbs," Hufbauer said.
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After the 100 days of Obama administration, people are starting to judge him. I guess it's slightly unfair for the man as the economy was in total shables when he was going to take over. Now people are judging his moves and actions taken and thinking ahead of the "what if the economy doesnt recover ...".
Recovery is never a straight and easy road and more pains will be felt before the true recovery starts. We are seeing it right now with AIG, selling everything they have. Now Chrylser, most probably GM and who will be next? Citigroup?
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