Is the President Still Running for Office?

Short answer: Of course not, he is restricted to two terms. Longer answer: He wants to see Nancy Pelosi reelected as Speaker of the House.

It is clear that he enjoyed the first two years of his first term more than the second two years. He is now faced with another two years of disputes with the Republican majority in the House. If he is going to be able to further his agenda during his final term, he is going to need to either reach an accommodation with the current House or work toward a change in 2014.

While it is impossible to project how policy may be affected by return to a Democrat tri-fecta, control of the House, Senate and White House, long-term investment strategies require consideration of what might happen in Washington under various scenarios.

All comments and suggestions are welcome.

Walter J. Kirchberger, CFA