Even MORE Bad News For The GOPon October 12, 2012 at 2:38 pm
U.S. consumer sentiment unexpectedly rose to its highest level in five years in October as consumers became more optimistic about the overall economy in a possible boost to President Obama’s reelection hopes next month.
The Thomson Reuters/University of Michigan’s preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.
It was well above the median forecast for a slight decline to 78 among economists polled by Reuters.
Of course, the Christmas season will see increased demand and hiring, goosing the economy even further. This increase in consumer confidence indicates that this holiday season will meet or exceed sales projections. Barring a economic crash from Europe or China, we’re on the road to a sustained (and sustainable) recovery which is TERRIBLE news for the GOP. At this point in time, their only economic talking point is “Obama failed!” and every economic metric says otherwise. The general public just doesn’t seem to be buying it anymore.
After Obama gets reelected and the Democrats keep control of the Senate (and maybe even take the House), the country will come out of its election stupor and realize that not only has the economy mostly recovered, it did so completely under Democratic direction. Even at the slow pace of the current recovery, by 2014 (again, barring outside interference), we’ll be doing far better than we were under Bush’s disastrous regime. What will the GOP have to show for their efforts? Nothing.
Grover Norquist better hope for an Obama sex scandal of epic proportions or a sudden economic downturn or else the midterms will be even uglier for them than this election’s going to be. The sad part is, that’s probably exactly what Grover’s GOP is hoping for.
“I want a president and congress that loves it when unemployment drops” – President Bill Clinton