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 spending, 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.