Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

How the economy stole the election

Two years ago it seemed that the election would hinge on Iraq, now it's the economy that's on voter's minds. Here's how that happened.

1 of 5
BACKNEXT
Summer/fall 2006 - War at the forefront
Summer/fall 2006 - War at the forefront
U.S. soldiers patrol a street in Baghdad's Ghazaliya neighborhood, Aug. 15, 2006.
Iraq is voters' main concern and the economy seems strong, but the seeds of the crisis are being sown.

With the mid-term elections in full swing, the war is being hotly debated. October is the third-deadliest month for U.S. troops in Iraq. Defense Secretary Donald Rumsfeld resigns after Democrats make major gains at the polls in November.

On the home front, the economy seems strong

July - Home prices hit an all-time high.

Market talk is that Fed will raise interest rates.

But trouble lurks

New home construction continues at a brisk pace during the summer - chugging along at more than twice the current rate - after hitting its peak at the start of the year.

August - Home prices nationwide post first decline in 10 years.

Having briefly spiked over $3 a gallon following Hurricane Katrina a year earlier, gas prices now average $3 a gallon - and stay there for multiple weeks.


NEXT: Spring/Summer 2007 - Cracks appear
Last updated November 03 2008: 2:44 PM ET
More Galleries
Super Bowl bound? Things to do in Houston besides the big game If you're one of the thousands of fans are headed to Houston for the Super Bowl Sunday, here are five things to do when you're not at the stadium. More
Sneak peek at Super Bowl 51 ads The ghost of Spuds MacKenzie and an ad about immigration steal the show in the swell of upcoming Super Bowl ads. Advertisers are paying, on average, $5 million for 30-second spots during Sunday's game on Fox. But if you want to watch something other than commercials, the New England Patriots happen to be playing the Atlanta Falcons. More
Most expensive cars from the Scottsdale collector car auctions The ten most expensive cars sold at the annual Arizona collector auctions went or a total of $44 million. More

Special Offer