Economic policies have consequences, and the consequences of the current administration’s policies — “stimulus”, huge expansion of government, astronomical deficits — are negative.
Stung by falling stocks and sick of waiting for jobs to come back, Americans are in a sour mood about the economy. And it’s getting worse fast.
Consumer confidence fell dramatically last month, adding to the evidence that the nation is in no mood to spend its way back to growth and raising fears of a double-dip recession.
Businesses have been cautiously building up inventories to prepare for increasing demand as the economy improves. The darkening mood leaves them with a question: Who’s going to buy all the cars, dishwashers and clothes heading to stores and showrooms?
When will President Obama take Steve Forbes’ advice? Let’s hope it’s soon.
