As you can see, it's rising: <img src="http://graphics8.nytimes.com/images/2011/05/14/opinion/051411krugman1/051411krugman1-blog480.jpg"> No way Obama can win again under these circumstances!
The unprecedented rise in commodities is partly to blame: <img src="http://graphics8.nytimes.com/images/2011/05/14/opinion/051411krugman3/051411krugman3-blog480.jpg"> Whose watch? Obama's watch.