Tuesday, September 25, 2012

Consumer Confidence in United States Up

It's just been a horrible last two weeks for Mitt Romney. First, his ill-conceived remarks on the crisis in Libya and Egypt, heretofore off limits for political candidates to speak out against U.S. foreign policy. Then, the ill-conceived remark that he doesn't care about 47% of the people in the country. Then, the release of his one tax return (rather than 10 years of returns, which is customary for presidential candidates), which not only raised more questions than it asked, but showed him paying just 14% in income tax, less than millions of American families at a time in which the fundraiser tape shows how much he disdains Americans who pay no tax (such as senior citizens and high school and college students).

On top of all that, we get news that the unemployment situation is getting better, businesses are hiring more, home sales are up nearly 30% over last year and home prices are up. And today, the report came out that consumer confidence rose in September, as renewed optimism about the job market gave the indicator a boost.

Renewed optimism, something the Democrats spoke up often during their National Convention. Renewed optimism, a phrase Romney and the Republicans hate.

The Consumer Confidence Index measures how Americans feel about the economy, and it jumped from an upwardly revised 61.3 in August to 70.3 in September, a jump of 14.68%. Economists expected the reading to be 63, so the figure surprised even those who study it closely.

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