Consumer Confidence Takes Unexpected Slide on Obama’s Watch … Drunken Sailor Spending and Taxes is Economies Undoing

 

Confidence in Obama dealing with the economy is becoming an issue. Stimulus plan was not only pork, it was a turkey. The honeymoon is over.

Consumer confidence falls unexpectedly in June. Unexpectedly? With all the deficit Chart_down2spending, with all the socialistic government control of banks and the car industry, with all the stimulus money borrowed against our grand children’s future. Should it really be unexpected when even the President’s approval ratings are going down? On top of it all, unemployment continues to rise, even though Obama’s admin said it would not go over 10%.

It is a pretty sad state of affairs when Obama pal, George Soros, says that borrowing costs pose a threat to economic recovery.

The consumer confidence index fell to 49.3 in June from 54.8 in May. Economists polled by Reuters had expected a healthier reading of 55.0 for the month.

Billionaire investor George Soros added to the cautionary tone, saying that rising borrowing costs posed a threat to any eventual economic recovery.

“As markets revive, fear of inflation will drive up interest rates, which will choke off recovery,” he said at a breakfast hosted by the Wall Street Journal.

Major stock market indexes fell after the Conference Board’s consumer confidence index showed households felt gloomier about their current situation and less optimistic about what the coming months might bring.

The CHANGE that voters foolishly voted for is turning out to be exactly what many had warned it was … liberls in sheeps clothing. A recent Gallup poll shows that 46% of Americans think that Democrats are too liberal, up from 39%. How could Americans not think that Barack Obama and Democrats as too liberal have expanded the government’s role in the economy to address the economic problems facing the country and look to control healthcare next. However, this percentage divide has some nad historical value for Democrats.

A Gallup Poll finds a statistically significant increase since last year in the percentage of Americans who describe the Democratic Party’s views as being “too liberal,” from 39% to 46%. This is the largest percentage saying so since November 1994, after the party’s losses in that year’s midterm elections.

With energy taxes like “Cap & Trade,” where 42% of Americans say it will hurt the economy. Who raises taxes in the teeth of a recession? With a $787 billion stimulus pork package that has done nothing. Americans are starting to blame Obamanomics and Obama’s bad policies for the bad economy. The longer his pork spending bills do nothing to revive the economy, the more The One will be blamed. Americans are too the point that they trust themselves more than big government for economic judgement.



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  • Obamanomics: US Unemployment Rate Climbs to a 26 Year High at 9.5%
  • Just How Much Trouble is Obama in For Reelection … The Numbers Do Not Lie, Correlation Between Consumer Confidence and Reelection




  • Comments

    7 Responses to “Consumer Confidence Takes Unexpected Slide on Obama’s Watch … Drunken Sailor Spending and Taxes is Economies Undoing”

    1. buster on June 30th, 2009 11:17 pm

      Pork ??? Turkey ??? COME ON IT WAS BULLSHIT !!!

    2. rightknight on July 1st, 2009 1:22 am

      How to Make Obowma Foie Gras:

      Start with the Golden Egg Laying Goose, ie: American Citizens.
      Next, borrow food from them and cram too much of it down
      their throats until their livers swell and become deliciously
      fatty and large. Kill the Goose and mash up it’s liver with some
      nice spices. Eat the delicious Pate de Foie Gras spread on
      crackers. Oooops, no more Golden Eggs from this one.. better
      hunt up another Goose. Boy, that liver tastes good! There are
      still a few more Geese to waste, not to worry.

    3. Prosperity on July 1st, 2009 7:17 am

      If the Obama goal was to destroy the arrogant U.S., I think he is on track. Is his goal prosperity and wealth for everyone except certain Americans? Certain Americans are locked out from jobs and the healthcare they’ve worked and supported for years? What happened to all the TARP money that was paid back? When is there going to be a serious audit of the Federal Reserve? Treasury? All the conflicting connections and job rotations?

    4. Obamanomics: US Unemployment Rate Climbs to a 26 Year High at 9.5% | Scared Monkeys on July 2nd, 2009 2:16 pm

      [...] is that $787 billion stimulus package now? As previously reported, consumer confidence is down as unemployment continues to rise. As Americans continue to lose jobs, Obama continues to [...]

    5. Colin Powell Suddenly has Doubts on Obama Agenda … Americans Like Taxes … Can’t Afford Taxes | Scared Monkeys on July 4th, 2009 11:04 am

      [...] it’s the ground swell of American outrage bubbling below the surface, the consumer confidence going down, the growing number of unemployed people and the fact that Obama’s policies [...]

    6. Uly Benjamin on July 6th, 2009 2:18 pm

      So, what ya gonna do? Lot’s of bitching and little action on the part of the American people.
      When are we going to hit the streets?

      Say what you like about Iran, at least they went out and made sure the powers that be knew where they were coming from.

    7. Change the Republican Party Can Believe In … Voters Trust Republicans more than Democrats on 8 of 10 Key Issues | Scared Monkeys on July 11th, 2009 1:26 pm

      [...] Consumer and investor confidence is now down to the lowest levels in three months. Just 39% now say President Obama is doing a good or an excellent job on the economy while 43% rate his performance as poor. Those are by far the weakest numbers yet for the president. Share This [...]

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