Gallup finds similar numbers to the Washington Post this morning: “Fifty-one percent of Americans rated current economic conditions “poor” over the weekend. This is up from 43% in early July, reflecting a continued deterioration in many Americans’ views.”
Gas prices are going up again, and as some argued, the June unemployment number seemed to break through some psychological barrier. But Gallup points the finger at the debt ceiling negotiations in Washington: ” Gallup’s data show that Americans’ perceptions of the future of the U.S. economy should be the real concern for policymakers and the overall economy. All of the talk about default likely has weighed on consumer confidence, as has the dismal jobs market, increasing gas prices, and the economic soft patch. It may be that once the debt ceiling battle is resolved, economic confidence will return. In the interim, however, it appears consumer psychology is continuing to deteriorate rapidly. The Conference Board is likely to pick up on this when it reports its Consumer Confidence Index later this week. It is also likely to be reflected in an anemic back-to-school sales season in the weeks ahead.”
If the economy -- particularly as it relates to job numbers and gasoline prices -- does not significantly improve in the next eight months -- nine on the outside -- Obama will not only be toast; he will be burnt toast ala Jimmy Carter.
Reply to this commentLinkReport AbuseAny improvement after that will be too little, too late to reverse his fortunes. Ironically, the odds of any improvement are slim and none, thanks to Obama's own actions and policies. He could give his chances a boost now by lifting the moratorium he has placed on oil drilling in the gulf, but given the reaction that would engender among his leftwing base, that's probably not going to happen. Far from being the powerful political figure painted by the media, Obama is, as of now, quite likely heading toward a landslide defeat.