Think about it: unemployment is rising. The rate stands at 5.7% and we have lost 463,000 jobs since the first of the year. And so is inflation. It’s accelerating at a faster rate than it has in 17 years. Gas prices are up 34% in the last year. Oil was around $26 a barrel when President Bush was inaugurated… it touched $147 a few weeks ago. More than 1 million homes are now in foreclosure.
Here are some national comparisons between today and where things were 8 years ago: Americans’ wages have actually gone down since the last recession ended. And we are spending 14.1% of our disposable income on debt; that’s higher than it was in 2001.
Americans are pretty glum about the future, too. The Conference Board’s Consumer Confidence Index stood at almost 85% in 2001; now it’s just below 52%.
Also, a new CNN/Opinion Research Corporation Poll finds 75% of those surveyed think the economy is in bad shape; that’s compared to just 43% who felt that way a year ago.
Here are some national comparisons between today and where things were 8 years ago: Americans’ wages have actually gone down since the last recession ended. And we are spending 14.1% of our disposable income on debt; that’s higher than it was in 2001.
Americans are pretty glum about the future, too. The Conference Board’s Consumer Confidence Index stood at almost 85% in 2001; now it’s just below 52%.
Also, a new CNN/Opinion Research Corporation Poll finds 75% of those surveyed think the economy is in bad shape; that’s compared to just 43% who felt that way a year ago.
I'm Great. Never been better!!!!!!!!!!!!
