Consumer Confidence Strong...

Linked via Viking Pundit, this press release paints a much different picture than people like Paul Krugman would have you believe.

“Consumers appear to be weathering the steady rise in gas prices quite well,” says Lynn Franco, Director of The Conference Board’s Consumer Research Center. “In fact, consumers’ confidence in the current state of the economy, and particularly in the labor market, has propelled the Present Situation Index to its highest level in nearly four years (125.4 in September 2001). Expectations continue to suggest more of the same for the remainder of this year.”

Consumers’ overall assessment of ongoing conditions was considerably more favorable in August. Those claiming business conditions are “good” increased to 29.8 percent from 28.7 percent. Those claiming conditions are “bad” slipped to 15.1 percent from 16.7 percent.

Sorry, Paul. Wrong again. Those damn Bush tax cuts for the rich at work again!

Posted by: Gary at 10:08 AM | No Comments | Add Comment
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