When you have consumer prices in July rising at double the expected rate, giving us the highest pace of inflation in 17 years, you know it's a campaign issue waiting to be exploited.

Once again, Democrats seem best poised to take advantage of political arguments that are based on economic grounds, while Republicans have the edge on foreign policy, terror and homeland defense.

John McCain definitely had the edge in recent days on the Russia-Georgia conflict, but if the focus moves back to domestic issues - and especially the economy - that's more of a hanging curveball for Barack Obama.

Or at least it should be.

"While Senator McCain apparently thinks the economy is doing just fine, and refuses to support any meaningful, short-term relief for America's struggling families, Barack Obama has proposed an Emergency Economic Plan that would immediately put $1,000 in the pocket of families to help them pay for gasoline, groceries and other necessities," said Obama policy wonk Jason Furman.

McCain started Thursday still on message on Georgia, using a news release to trumpet one of his lines about US support for those opposing the Russians.

"This small democracy, far away from our shores, is an inspiration to all those who cherish our deepest ideals. As I told President Saakashvili on the day the cease-fire was declared, today we are all Georgians. We mustn't forget it."

McCain's team later cranked out a statement on taxes, charging that Obama would raise them if elected.

"Barack Obama has voted in support of higher taxes 94 times in just 3 years, including higher taxes for Americans making just $42,000 a year," said McCain's campaign wonk Douglas Holtz-Eakin.

That came after Obama advisers talked about raising the capital gains rate and more if the Illinois Senator is elected, something certain to aggravate GOP interests.

How should the economy figure in to the candidate's choices for their running mates? For McCain, it seems simple, because he is not Mr. Economic Expert.

Pick Mitt Romney, many might advise the Arizona Senator.

For Obama, it's not so simple. Does he emphasize foreign policy with his choice?

Thankfully, there aren't many days left for me to endlessly ask rhetorical questions. The Democratic Convention begins 10 days from now.

Whatever the decision on a running mate, a certain J. Carville might have one basic piece of advice for what you should focus on this fall if you are running for President.

And it's not the question of what Russia is doing in Georgia.