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.