Tuesday, February 17, 2009

Stimulus Stifles Confidence

From Rasmussen Reports:
Following Congressional passage of the economic stimulus bill, consumer confidence has fallen to another record low.
The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, fell two points on Sunday and another point on Monday to 55.7. This is the third time in February that the daily Consumer Index has fallen to a record low. Confidence is down a point from a week ago, down six points from a month ago, and thirty-one points since the financial industry meltdown began in mid-September. During that time, confidence in the nation’s banking system has plummeted.
Rasmussen Index data is derived from nightly telephone interviews and reported on a three-day rolling average basis. Today’s update is the first based entirely on interviews conducted since the House of Representatives passed the economic stimulus plan. Some of the interviews were completed before Senate passage of the legislation on Friday night.
Only 8% of American adults now rate the economy as good or excellent while 67% rate it as poor. Just before Lehman Brothers collapsed last September, 18% rated the economy as good or excellent.
Just 9% now say the economy is getting better while 70% say it is getting worse. In mid-September, 16% said the economy was getting better.
Now, 66% of Democrats say the economy is getting worse along with 75% of Republicans and 73% of those not affiliated with either major party.

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