Welcome to the Obama Economy … Consumer Confidence Hits Lowest Level of Year
As Obama spins that the economy is headed in the right direction, “We the People” know better as consumer confidence hits its lowest level, according to the most recent Rasmussen poll. Wait, it is about to get worse, The Federal Reserve is set to downgrade its assessment of US economic prospects.
The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell to its lowest level since December 3, 2009 on Sunday. At 70.0, consumer confidence is down four points from yesterday and down nine points from its level a week ago. The index is also down six points over the past month.
After over a week of steady gains, the Rasmussen Investor Index, which measures the economic confidence of investors on a daily basis, dropped seven points today to 77.5. The index has now fallen 20 points over the course of the past three days. Confidence is down 10 points over the past week and down six points from a month ago. The index is currently just a point shy of the lowest level recorded this year.
Only 8% of adults nationwide rate that the U.S. economy as good or excellent, while 58% rate it as poor. About a quarter (24%) of Americans feel economic conditions in the country are getting better, but 54% think they’re getting worse.
Obama’s economic policies are an abysmal failure and the people know it. This should go over well for Democrats heading into the November midterm elections.
Posted August 9, 2010 by Scared Monkeys
Barack Obama, Economy, Jobs, Obamanation, Obamanomics | 2 comments
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2 Responses to “Welcome to the Obama Economy … Consumer Confidence Hits Lowest Level of Year”
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Re “Obama economy” story: We remain in the downstream of 8 years of a Bush economy. With a 30 year DC Economist husband, all we can say is BO’s is digging upward as best any team could.
SM: Spare us the BS. For starters, Obama was in the Congress when the jobs were lost and who controlled Congress? Just in case you forgot and did not get it from MSNBC, that would be the Democrats. Who resided over Fannie Mae & Freddie Mac and forced banks to take risky loans or not get federal funding? Once again, that would be Democrats.
The fact of the matter is Obama is doing a terrible job with jobs and every one knows it. At this rate it will take 11 years to bring the jobs back. It is a common rule of thought, except when the LEFT makes excuses for the Obamamessiah, that the steeper the loss of jobs and recession, the faster the recovery. 600K gained after losing 8 million is pathetic.
However, what would any one espect from a socialist. The stimulus package was a Democrat pay off and a waste of tax payer $’s. Obama is an abject failure.
When Obama was a senator, he did nothing but take a paycheck. He attended 129 of their sessions and never once voted yes or no on anything, he only responded by saying he was present. A lot of good that did!!!!