It's the Economy Stupid

Sixteen years ago, Bill Clinton surged to an improbable presidential victory over incumbent George H.W. Bush, primarily on the strength of a snarky campaign phrase: "It's the economy, stupid."

Now, Republicans appear to be crafting their own version in an effort to recapture both chambers in Congress next year.

Their message: President Obama's fiscal policy "spends too much, taxes too much and borrows too much."

While that phrase lacks the same zing as Clinton's, Republicans have persistently wielded it every chance they get.

Sen. Judd Gregg, R-N.H., and Mississippi Gov. Haley Barbour unleashed the phrase in the last two weekly Republican addresses. Other GOP leaders to hurl it include House Minority Leader John Boehner, House Minority Whip Eric Cantor, Republican Conference Chairman Mike Pence, and Senate Minority Leader Mitch McConnell.

"Obama is providing us with a message by definition of the trillions of dollars in spending for the stimulus and spending packages," said Bill Lee, a GOP consultant who once defeated Clinton in a gubernatorial race. "Obama is the best messenger the Republicans have at this juncture. He's ably assisted in this regard by [House Speaker Nancy] Pelosi and [Senate Majority Leader Harry] Reid."

Lee said he doesn't know which slogan will help restore power to Republicans.

"But it certainly is going to center around that subject," he said.

Richard Goodstein, a Democratic consultant and former adviser to President Clinton, told FOXNews.com that he is amazed some of the same critics who argued the economy was strong under Clinton because of steps George H.W. Bush took, are blaming Obama for a crisis he inherited from George W. Bush.

"It's hypocritical to a degree that even most people find a bit much," Goodstein said, adding that he believes the Republican strategy "is fairly bankrupt and that's pretty much the only card they have to play. Do I think that's a winning strategy? We'll see."

One Republican lawmaker has even borrowed Clinton's legendary phrase to attack the Democrats' handling of the economy.

"Bill Clinton, back in 1992, when he was running for office, you know, their campaign coined the phrase, 'It's the economy, stupid,'" said Sen. John Ensign, R-Nev., "Well, that was when we were in a very minor recession. Today we are in a severe recession, with no end in sight." - FOX News Story