The US economy may be on the mend, but the jobless recovery may not be enough to help President Bush in his election bid.
America's recession is over and the recovery has begun.
At least that's what the statistics say - but it doesn't necessarily feel like it to the 9 million Americans who are out of work.
Last month 44,000 jobs vanished, and the unemployment rate stood at 6.2%.
One of those belonged to Scott, an accountant.
In their crowded apartment in Portsmouth, New Hampshire, Scott and his wife Elizabeth are worried.
"It sure feels like a recession," Scott says. "You never know when you are going to be downsized or no longer needed."
"I'm very concerned," says Elizabeth. "If it was just me and Scott I wouldn't be concerned, but we have two kids with large appetites. We're certainly not living the American dream."
Job insecurity
Across America, job insecurity has combined with worries about rising health care costs to create a more apprehensive nation.
The signs of recovery in the US are real and interest rates are low, but the bad news is that so far it has been a jobless recovery, with employers unwilling to hire new staff.
Higher productivity is one reason for the lack of growth in the job market.
Another reason is that jobs have moved overseas.
What is new is that it is not just manual labour jobs that are going abroad, but increasingly areas like financial services and information technology.
Corporate scandals
One of Scott's clients was Enron and the whole issue of corporate accountability is uppermost on his wife's mind.
"He's a good accountant and he's actually got intro trouble because he asks questions and they don't want people who ask questions. They just want it done quickly. And that was the whole issue was Enron," says Elizabeth.
"We have a system in itself which is bankrupt."
The combination of job losses and concern over issues like corporate accountability and pay for top executives could cause political problems for President Bush next year.
Political battle
If things don't improve, he could be running for re-election with the worst record on jobs of any President since Hebert Hoover, who presided over the Crash of 1929.
Mr Bush has been placing economic security alongside homeland security at the top of his agenda.
The huge Republican tax cut is likely to be the central point of dispute.
Will it help kick start the economy or are is it just a way of helping the wealthy who don't need it, as the Democrats contend?
Even after September 11th, competence over the economy will still matter.
And only 45% of the electorate approve of the way Mr Bush is handling the economy, according to the latest Washington Post opinion poll.
"After Clinton left the presidency it seemed all of that work went down the drain," says Scott.
"If Clinton could run again and he wanted to, I think he could solve the problems, because I don't think tax cuts are the way to do it.
"I don't think his father got it and I don't think this President Bush gets it."
If he is going to win re-election next year President Bush will have to show people like Scott that he does "get it".
Otherwise, the Democrats may use the economy to defeat him in the same way they defeated his father in 1992.
