Yesterday, President Obama said, "the economy is strengthening" and "we are into recovery," but "we're going to have to continue to be vigilant." Americans don't seem to agree because their confidence sank in June due to the poor outlook for jobs and incomes.
"If we can make sure that we continue to do the things that we're doing ... then we think that the general trends will be good," Obama said. Really? Why then is the Dow Jones industrial average down 9.1 percent for the quarter? Depressing economic reports, punctuated by continued high levels of unemployment, might have something to do with that. If Barack were being vigilant, he'd know why.
This president doesn't have a clue. Thank goodness, November draws nigh.