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PINE LOG The Page 6 Taylor Smith steps into Jereal Scott’s shoes for upcoming Lumberjack Basketball season. The Independent Voice of Stephen F. Austin State University Thursday, November 8, 2012 Obama wins re-election Courtesy of Google photos By David J. Lynch and Mike Dorning Courtesy of The Washington Post News Service with Bloombert News U nemployment is falling. The housing market is rebounding. Consumers are paying off their debts. And the big banks are healthy. The U.S. economy that earned President Barack Obama a second term looks nothing like the mess that he inherited four years ago. Instead of shrinking and shedding jobs, the country is growing at an annual rate of 2 percent and businesses are handing out new paychecks at a monthly average of 157,000 so far this year. That doesn't mean the world's largest economy is thriving. The United States has been growing below its historical trend since March, according to the three-month moving average of the Chicago Federal Reserve Bank's National Activity Index, a blend of 85 indicators measuring employment, production, housing and consumption. Danger looms in the form of $607 billion automatic spending cuts and tax increases known as the fiscal cliff, scheduled to take effect at the beginning of 2013. A simmering sovereign debt crisis that has sapped Europe's commercial strength poses another risk. Few economists, in any event, expect a return to the robust growth of the late 1990s, when median household income rose for six consecutive years. "The economy is OK right now, but there are worries about potential headwinds next year," said economist Chris Rupkey of the Bank of Tokyo-Mitsubishi in New York. Obama's election victory Tuesday night erases a question mark that has shadowed the economy all year while he and Republican Mitt Romney, two candidates with sharply divergent views of government's appropriate role in the economy, dueled for the presidency. While the specifics of tax, spending and regulatory policies remain to be written, investors now at least know what direction will be taken by the White House. Obama's victory means renewed political pressure to raise taxes on high-income individuals and on investment income. Though Republicans in Congress have pledged to oppose tax increases, the president will claim a fresh mandate to eliminate the George W. Bush administration's tax cuts for the wealthy and raise taxes on capi- Courtesy of Google photos tal gains income. Obama also is likely to fulfill campaign promises to protect spending on infrastrucElection, page 2 TLIP winners to visit Austin 2012 winners and losers, bests and worsts revealed after election night Five SFA students have been chosen to participate in the Texas Legislative Internship Program (TLIP) this spring in Austin. TLIP is a program that assigns students to an internship in Austin that is in some way involved with the Texas Legislature. They will live there for the spring semester and earn nine hours of upper-level political science credit. “Students can hope to gain a wide range of experience because you get right in the middle of the legislative process,” Dr. Ken Collier, TLIP campus coordinator, said in a previous interview. The five students chosen to participate are Kristen Cade, Emily Campbell, Karina Erickson, Jarrett Jackson and Chelsea Rountree. “I want to get into policy making, so (TLIP) is a good place to start,” Cade said. Cade is a junior from Duncanville. She is a political science major and is mainly interested in international relations and is involved in the School of Honors, World Politics Club and Pi Sigma Alpha (the political science honor society). After college Cade plans to attend graduate school, get her doctorate and either teach or work on defense policy making. Cade is excited to participate in TLIP “for the experience.” If given the opportunity, Cade would like to work on something to do with immigration, but would be happy with anything. “I am using the internship to decide what I want to do (after college),” Campbell said. Campbell is a junior from Crandall, Texas. She is a political science major and is interested in international relations as well as political theory. Campbell is the president of Pi Sigma Alpha and works at the AARC. “I decided to do TLIP because I would get to work directly with the legislature. It will give me the experience I need because I am interested in working on campaigns (after college),” Erickson said. Erickson is By Chris Cillizza Courtesy of The Washington Post News Service with Bloombert News By Katelynn Wiggins Staff Writer President Barack Obama won a second sweeping national victory Tuesday, far exceeding the electoral vote expectations that many had projected for him and proving that the coalition that he built in 2008 (young people, AfricanAmericans, Hispanics) is durable and sustaining. While his impressive victory makes Obama the big winner of the night (and, consequently, Mitt Romney the big loser), there were plenty of other bests — and worsts — from election night. Winners: Women: Women comprised 53 percent of the total national vote — as they TLIP, page 2 did in 2008 — and went for Obama by 11 points, a gender gap critical to his victory. Female politicians — particularly on the Democratic side — also had a very good night. The Senate added Elizabeth Warren (Mass.), Tammy Baldwin (Wis.), Mazie Hirono (Hawaii) and Heidi Heitkamp to its ranks while re-electing potential 2016-ers Kirstin Gillibrand (N.Y.) and Amy Klobuchar (Minn.) In New Hampshire, women ruled the day — electing a new governor (Maggie Hassan) and two new House Members (Carol Shea Porter and Ann Kuster). Add Sens. Kelly Ayotte (R) and Jeanne Shaheen (D) to that mix and you have an all female congressional delegation from the Granite State. Jim Messina, Joel Benenson and the entire Obama senior strategic team: Messina, the campaign manager, and Courtesy of Google photos Volume 93 Issue 18 Next Publication: Monday, November 12, 2012 Visit us online at TODAY H 75 L 48 FRIDAY H 79 L 57 CMYK Benenson, the campaign's pollster, as well as the rest of the Obama campaign's top political aides, deserve a massive amount of credit for what they pulled off on Tuesday night. They helped to re-elect a president with an economic headwind the likes of which few politicians would have been unable to run into. They did so with an unwavering belief that the race would be more a choice about which of the two candidates understood average voters' concerns than a referendum on the president's policies. They did so with massive infrastructure in swing states and an unswerving commitment of time (and lots and lots and lots) of money in places like Virginia and Florida that few people believed Obama could or would win again in 2012. They did so by recreating the demographic coalition — minorities, women, young voters — that many people said couldn't be recreated after the 2008 election. Simply a strategic master class from beginning to end. Young voters: Long the butt of jokes about their lack of participation in the political process, the 18-29 year old set made a major statement in the 2012 campaign. One of the most amazing stats of the 2012 election is that young voters made up a larger percentage of the total electorate (18 percent in 2008, 19 percent in 2012) than they did four years ago. And while Obama's margin wasn't as large among that youthful age group as it was four years ago, he still Winners and losers, page 2 SATURDAY H 77 L 61


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