Bricks and bombast: U.S. presidential economic cheerleading in response to the housing market

There is a long-standing discussion in the academic literature on whether presidential rhetoric mirrors or guides conditions in the sociopolitical environment. Scholars like Canes-Wrone (2001) and Edwards (2009) believe responsive presidential rhetoric that reflects what is happening in the sociopolitical environment is more likely to resonate with the public. This paper assesses whether presidents will heighten the usage of cheerleading rhetoric about the economy that uses a positive tone in response to changes in the housing market. The time series analyses of information available between 1963 to 2005 indicate presidents increase economic cheerleading in response to positive changes in the housing market.