Walter Russell Mead, as always, has some insight into the changes impacting the American political landscape. In essence, he believes that the the old, New Deal formula that was so effective for the Democratic Party in the 20th Century no longer works, either as a political strategy or as an effective governing strategy. This is because the electorate, by-and-large, no longer believes Democratic solutions will solve current economic problems, even though those problems are similar to the ones that gave the Democrats control of America's national political institutions in 1932.

It appears that the Democrats, at least those inside the White House, have found their 'October Surprise', by attacking the U.S. Chamber of Commerce. The allegation? That the Chamber is using foreign money to fund its advertising campaign directed against Democratic candidates all across the country. Officials at the Chamber deny it, of course. As a political issue, it seems like it might be pretty sexy. After all, it combines xenophobia with criminality (it is against the law to use money from foreign sources to bankroll campaign ads). Alas for the Democrats, it doesn't fit well on a bumper sticker, it doesn't implicate Republican candidates directly, and it doesn't propose a solution that would create a single job.

Mark Halperin doesn't think much of the issue, and he believes it is a distraction that is part of an overall pattern of incompetence within the Obama team.

Robert J. Samuelson believes the U.S. and Europe have entered an age of austerity. He is also afraid that this austerity will lead to even slower growth and extended high unemployment. My fear is that if this is, in fact, the emerging political and economic pattern, all it will take is one significant shock (a spike in oil prices, for instance), to send these economies into a tailspin. Such a tailspin could lead to an economic depression, massive social dislocation, the rise of fanatical ideologies, and war. Not a pretty picture. I hope I am wrong.