RSSMore Obama Hope & Change: US Consumer Confidence Drops to Lowest Since Carter
Oh Yeah, He’s re-electable …
Once again we are witness to more “Hope & Change” from President Barack Obama … How many voters have buyer’s remorse? Obama and his minions try and compare him to Reagan and Lincoln … SORRY, OBAMA IS CARTERESQUE!
Move over Jimmy Carter … American has Barack Obama, the worst President in modern American history. What more damage can Obama do to America? I am guessing he contemplates that while golfing. The fact of the matter is that confidence in Obama is gone and is in no sign of ever coming back. Obama has done out of his way to implement policies that have failed and continues down the same path of failed polices and agendas. Obama has never been a leader, he was a talker and a campaigner. All of America is finally figuring it out. HAS A COUNTRY EVER HAD MORE BUYER’S REMORSE IN A PRESIDENTIAL ELECTION?
The unemployment rate continues to be over 9% and the underemployment is at 18.1%. Barack Obama is the first US President to reside over an economy that has had a downgrade of its credit rating. Add one more notch to Obama’s belt … consumer confidence has dropped to the lowest level in three decades. Not since the Presidency and “MISERY” of Jimmy Carter has the consumer confidence been so low.
Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior month. The gauge was projected to decline to 62, according to the median forecast in a Bloomberg News survey.
The biggest one-week slump in stocks since 2008 and the threat of default on the nation’s debt may have exacerbated consumers’ concerns as unemployment hovers above 9 percent and companies are hesitant to hire. Rising pessimism poses a risk household spending will cool further, hindering a recovery that Federal Reserve policy makers said this week was already advancing “considerably slower” than projected.
According to a recent Gallup poll, only 8% of Americans think that the economy is good or excellent, while 55% believe its poor. It gets worse, or better if you are Barack Obama … 80% believe the US economy is getting worse, only 16% believe its getting better. That 16% either need their heads examined or root for the total destruction of America.
The numbers on the consumer sentiment index fell to 54.9 in early August, down from 63.7 in July, and the index has fallen for three straight months. Gallup has economic confidence at -56. Thanks Barack Obama.
Unemployment at 9.1 percent of the workforce, low wage rises, and the protracted debate in Congress over raising the U.S. government debt ceiling spooked consumers, survey director Richard Curtin said in a statement.
“Never before in the history of the surveys have so many consumers spontaneously mentioned negative aspects of the government’s role,” Curtin said.
“This was more than the simple recognition that traditional monetary and fiscal policy measures were largely spent. It was the realization that the government was unable or unwilling to act,” Curtin added.
Bad economic times were expected by 75 percent of all consumers in early August, just below the all-time peak of 82 percent in 1980. Buying plans for household durables and vehicles declined in early August, falling back to their recession level lows.
Barack Obama and his policies have crushed the spirit of Americans. According to a recent Rasmussen poll, only 32% say America’s best days are in the future. What inspiration Barack has given us. Is it any wonder why Obama has a -22% Rasmussen Presidential Index and an overall job approval rating of -6.3%.
As the Gateway Pundit states, its Barack Obama’s “MISSION ACCOMPLISHED”. 2012 can not get here fast enough. “We the People” need to take our country and future back in 2012 and throw this clown out of office in resounding and “landslideable” fashion.
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[...] Obama is fast becoming Carteresque. It was just the other day that Powerline posted, that Obama was “Heading Toward Jimmy Territory”. Heading, he might already be there. how low will Obama’s approval ratings get before there is widespread panic with Democrats and Progressives where they feel the need that Obama needs a primary challenge? After all, his job approval is getting close to making anything he says irrelevant. Obama’s red line shows the small bump in May at the time of the Bin Laden mission, but it didn’t last long, and through the debt limit crisis he’s been slowly losing ground. Like Carter, who hectored us on our “crisis of confidence” at the peak of his leadership crisis, Obama doesn’t know what to do, as Jay Cost argues well over at the Weekly Standard. So he may yet head into Jimmy territory. The big question is, with “Progressives” increasingly dismayed with Obama, who will play the Ted Kennedy role and rise to the challenge? [...]
Carteresque….Indeed!
[...] to call Obama “Reaganesque;” however, any common sense thinking person knows Obama is “Carteresque”. The talking points of the LEFT is that Obama inherited a bad economy and they have constantly used [...]
[...] horrible poll numbers, how Social Security is a Ponzi scheme, the double-dip recession, how consumer confidence has bottomed out, how President Obama would rather play golf or fundraise than lead, how manufacturing is leaving [...]