US consumer confidence fell again in September and is now at its lowest level in seven months.
The drop is lower than was forecast.
The Conference Board’s confidence index declined to 48.5 from 53.2 the prior month.
This is bad news.
Americans don't believe the recession's over.
They don't believe jobs are in the offing anytime soon.
Those that are fortunate enough to have a job don't see their income rising.
They don't see things getting better.
And they don't believe that the current administration in Washington is really helping them.
Is it any wonder that people are angry, if not absolutely enraged?
The government keeps taking more and more of our money and creating more and more new programs while the national debt grows bigger and bigger (sending our children and grandchildren into hock) and we have nothing to show for it. What's more, the Democrats refuse to act on vital issues and instead are waiting for a lame duck session of Congress (after the elections) to try to do more dirty work.
The Conference Board’s measures of present conditions and expectations for he next six months also dropped, according to this latest report. Fewer respondents thought more jobs would become available. Furthermore, the percentage of those who expected incomes to rise has now fallen to the lowest level since February.
This is sad, shameful, disgraceful!
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