“I would say the risks of recession are now greater than they’ve been any time since the period in the aftermath of 9/11.” – Former US Treasury Secretary Larry Summers

I have been harping on the idea that the two major republicans issues in 2008 will be taxes and terror. It also is starting to appear that the economy as a whole with the word “recession” looming will play a large role in the election. President Bill Clinton’s 1992 mantra “Its the economy, stupid” looks like it could well apply again. It also could be a repeat of 2000 when Bush/Cheney talked down the economy and called for tax cuts to avoid an incoming recession while painting Gore as the candidate who would raise taxes and spur an economic downturn.

So who wins and who loses if the economy is the #1 issue?