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"The economy, stupid" Origins?

Where did this phrase come from? I've heard it quoted here and there but never figured out its full meaning. Can anyone help out?

Reply 1

TIMAAAAAAAAAAAY

f someone told you tomorrow that the world was going to end, would you be so concerned about the economy? I tend to think most of us would not care about the economy if we knew the world was ending, instead we would worry about God, family, and our last moments on earth, but the reality is the world is not going to end tomorrow, so instead we will continue to worry about the economy.

And it seems in this very temporal, materialistic world the only thing that matters is the economy. Hence, a slogan that was very popular in the Clinton administration, “it’s the economy stupid,” I must admit I shiver with the fact that I am mentioning the Clinton administration in a column of mine, but I am doing so to provide a beneficial point about the economy, or more importantly the disillusion the economy causes with respect to happiness.

http://www.politixgroup.com/comm70.htm