Barack ObamaJames CarvillePresident 2012

President 2012 Video: If Unemployment Stays High – I Don’t See How Obama Wins

Democratic strategist James Carville on the Don Imus Show

Even James Carville admits it will be tough for President Obama to win re-election if the unemployment situation does not improve quickly.

Who ever thought the saying, “It’s the economy stupid,” from James Carville in 1992 would become a staple in presidential elections 20 years later?

That expression made its way into the campaign in 2008, and according to Carville, it could be the theme of the 2012 campaign as well as President Barack Obama seeks reelection. In an appearance on Monday’s “Imus in the Morning” on the Fox Business Network, the former Clinton adviser said that, based on the May jobs number, if the unemployment picture doesn’t improve, 2012 could be rough for the president.

It may already be too late for President Obama, depending upon who the GOP nominates.