Mitt or Obama: who will help the economy more?

Answer: neither.

There have been gaffes, there have been aggressive ads, there has been competitive hurricane-dealing, but tonight most people are going to end up voting for the candidate they think will best help the economy. Romney's supporters say Obama's policies will lead to a long period of meagre growth. Obama warns of a Republican fuelled recession. But according to Bloomberg, neither is right:

No matter who wins the election tomorrow, the economy is on course to enjoy faster growth in the next four years as the headwinds that have held it back turn into tailwinds.

Consumers are spending more and saving less after reducing household debt to the lowest since 2003. Home prices are rebounding after falling more than 30 percent from their 2006 highs. And banks are increasing lending after boosting equity capital by more than $300 billion since 2009.

"The die is cast for a much stronger recovery," said Mark Zandi, chief economist in West Chester, Pennsylvania, for Moody’s Analytics Inc.

Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, agrees. He told reporters that while tomorrow’s presidential contest “may have some influence on the decision of businesses... I don’t think the election results per se are going to have a noticeable effect on how this economy is evolving.”

Obama and Romney. Photograph: Getty Images
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Tony Blair won't endorse the Labour leader - Jeremy Corbyn's fans are celebrating

The thrice-elected Prime Minister is no fan of the new Labour leader. 

Labour heavyweights usually support each other - at least in public. But the former Prime Minister Tony Blair couldn't bring himself to do so when asked on Sky News.

He dodged the question of whether the current Labour leader was the best person to lead the country, instead urging voters not to give Theresa May a "blank cheque". 

If this seems shocking, it's worth remembering that Corbyn refused to say whether he would pick "Trotskyism or Blairism" during the Labour leadership campaign. Corbyn was after all behind the Stop the War Coalition, which opposed Blair's decision to join the invasion of Iraq. 

For some Corbyn supporters, it seems that there couldn't be a greater boon than the thrice-elected PM witholding his endorsement in a critical general election. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

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