It’s not uncommon for opponents of a recently elected candidate to suggest that the mere specter of his policies can spook the economy into a slump. On November 6, 2008, two days after Barack Obama was elected president of the United States, radio host Rush Limbaugh took note of a falling stock market and noted, “[Obama] hasn’t done anything yet, but his ideas are killing the economy.” Although some American voters may take a pessimistic view of a president-elect’s expected policies, research suggests the sentiment doesn’t make them spend less.

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