“The result has been the largest decline in America’s global economic influence since the 1970’s.”

Hard-hitting WSJ editorial on the dollar today. It’s amazes me that this hasn’t been more of an issue: it would be another way for Democrats to hit Bush on the economy, and it would be a way for McCain to distance himself from Bush while playing into his themes of national strength and pride (and playing to pocket-book voters who might be up for grabs). But not only has the decline of the dollar not registered as a political issue, it’s barely been the subject of commentary (our own Larry Kudlow has been an honorable exception). One of the most effective speeches I heard during the Republican campaign season was the founder of Staples–introducing Romney in N.H.–hitting on the decline of the dollar as a symptom of what’s wrong with Washington and the economy. Otherwise, it’s an issue everyone has left on the table.