🚀 go-pugleaf

On 10/14/2012 8:16 PM, An tSin Gorm wrote:
> 'I mean in history, before they changed the water.'



http://www.moneynews.com/StreetTalk/Rasmussen-recession-consumer-investor/2012/10/08/id/459055

Rasmussen: 62% of Consumers See US in Recession
Monday, 08 Oct 2012 09:38 AM

By Forrest Jones

More and more Americans feel the U.S. economy is mired in a recession, a 
new Rasmussen Reports survey finds.

The poll found that 62 percent of consumers believe the U.S. economy is 
currently in a recession, while 22 percent disagree.

Among investors, 61 percent say the economy is in a recession, while 24 
percent say it�s not.

Editor's Note: Prophetic Economist Warns: �It�s Curtains for America.� 
See Evidence.

The Rasmussen Consumer Index, which measures consumer confidence on a 
daily basis, rose 2 points on Sunday to 85.9. The consumer index is down 
3 points from a week ago, up 2 points from a month ago and down 4 points 
from three months ago.

The Rasmussen Investor Index rose 4 points on Sunday to 92.2. Investor 
confidence remained largely unchanged from a week ago, is down 2 points 
from a month ago and down 4 points from three months ago.

Fears the United States will slide into a recession next year have been 
growing, thanks to a fast-approaching and very sharp fiscal adjustment 
that will strike on New Year�s Day.

http://online.wsj.com

Mr. Obama told Americans in 2009 that if he did not turn around the 
economy in three years his Presidency would be "a one-term proposition." 
Joe Biden said three years ago that the $830 billion economic stimulus 
was working beyond his "wildest dreams" and he famously promised several 
months after the Obama stimulus was enacted that Americans would enjoy a 
"summer of recovery." That was more than three years ago.

In early 2009 soon-to-be White House economists Ms. Romer and Mr. 
Bernstein promised Congress that the stimulus would hold the 
unemployment rate below 7% and that by now it would be 5.6%.

Mr. Obama promised that the deficit would be cut in half in four years, 
but the fiscal 2012 deficit (estimated to be above $1 trillion) will be 
twice the 2008 deficit ($458 billion).

Mr. Obama said that his health-care plan would "cut the cost of a 
typical family's premium by up to $2,500 a year," but premiums for 
employer-sponsored family coverage have gone up $2,370 since 2009, 
according to the Kaiser Family Foundation.

He said that the linchpin for a growing economy would be renewable 
energy investment, and he promised to "create five million new jobs in 
solar, wind, geothermal" energy. Mr. Obama did invest some $9 billion in 
green energy, but his job estimate was off by at least a factor of 10 
and today many solar and wind industry firms are fighting bankruptcy. 
The growth in domestic U.S. energy production that he now takes credit 
for has come almost entirely from the fossil fuels his Administration 
has done so much to obstruct.

There's nothing unusual about candidates making grandiose promises that 
don't come true. And it's a White House tradition to blame one's 
predecessor when things don't get better. (Usually these Presidents end 
up one-termers.)

The bad faith wasn't then. It's now. Mr. Obama really believed that 
government spending would unleash a robust recovery in employment and 
housing�an "economy built to last." Now that this hasn't happened and 
with the Congressional Budget Office predicting a possible recession for 
2013, Team Obama claims these woeful results were the best that could 
have been expected.

The problem with this line is that every President who has inherited a 
recession in modern times has done better. (See nearby table.) Under Mr. 
Obama, measured on the basis of jobs, GDP growth and incomes, this has 
been by far the meekest recovery from the past 10 recessions.