Post by unlawflcombatnt on Aug 2, 2007 19:50:14 GMT -6
Below are excerpts from a Wall Street Journal article titled
America's Economic Mood: Gloomy
The article discusses the state of the economy, and Americans' opinion of the economy.
By JOHN HARWOOD
8/2/07
"Americans are feeling decidedly sour about the economy and those in charge of it, fueling Democratic efforts to target business interests in the 2008 election campaign.
More than 2/3 of Americans believe the U.S. economy is either in recession now or will be in the next year, a new Wall Street Journal/NBC News poll shows....
In addition, the poll shows a lack of confidence in economic leaders. That includes not just Mr. Bush and Congress, both of whom have the approval of fewer than 1/3 of all Americans, but the financial industry, large corporations in general and energy, drug and insurance companies in particular....
Yet growth in consumer spending has slowed, and concerns about health costs, job security and the gap between the rich and poor have left Americans downbeat about the road ahead.
"They're ambivalent about the current economy but pessimistic about the future," said Republican pollster Neil Newhouse, who conducts the Journal/NBC survey with Democratic counterpart Peter Hart. One consequence is anger at leading economic actors, who respondents believe are failing to protect ordinary Americans' interests.
"There's a combination of anxiety and loathing," Mr. Hart said. "There's a sense that every single one of these institutions is totally out for their own betterment, versus the public they serve."
Democratic politicians are reflecting those sentiments in the 2008 presidential campaign and in legislative proposals in Congress. Populist lawmakers in the House and Senate have targeted oil-industry tax breaks, and challenged pharmaceutical companies on issues from drug prices to generic substitutes to imports from foreign companies. The chairmen of the House Ways and Means and Senate Finance committees, and all three leading Democratic presidential candidates, have endorsed higher taxes on hedge-fund and private-equity managers or firms.
Efforts by Republicans and the business community to raise fears about Democratic tax increases, spending excesses or economic mismanagement have proved unsuccessful. In what Mr. Newhouse called a "world turned upside down," Democrats enjoy an edge in public approval that extends beyond such party strengths as health care and education, where Republicans trail by more than 20 percentage points.
Democrats lead by 35 percentage points on handling gas prices, by 24 percentage points on energy policy and 10 points on dealing with immigration. Even more notably, Republicans lag by 16 percentage points on controlling government spending, 15 percentage points on dealing with the economy and nine percentage points on dealing with taxes....."
The full article can be found at
America's Economic Mood: Gloomy
America's Economic Mood: Gloomy
The article discusses the state of the economy, and Americans' opinion of the economy.
By JOHN HARWOOD
8/2/07
"Americans are feeling decidedly sour about the economy and those in charge of it, fueling Democratic efforts to target business interests in the 2008 election campaign.
More than 2/3 of Americans believe the U.S. economy is either in recession now or will be in the next year, a new Wall Street Journal/NBC News poll shows....
In addition, the poll shows a lack of confidence in economic leaders. That includes not just Mr. Bush and Congress, both of whom have the approval of fewer than 1/3 of all Americans, but the financial industry, large corporations in general and energy, drug and insurance companies in particular....
Yet growth in consumer spending has slowed, and concerns about health costs, job security and the gap between the rich and poor have left Americans downbeat about the road ahead.
"They're ambivalent about the current economy but pessimistic about the future," said Republican pollster Neil Newhouse, who conducts the Journal/NBC survey with Democratic counterpart Peter Hart. One consequence is anger at leading economic actors, who respondents believe are failing to protect ordinary Americans' interests.
"There's a combination of anxiety and loathing," Mr. Hart said. "There's a sense that every single one of these institutions is totally out for their own betterment, versus the public they serve."
Democratic politicians are reflecting those sentiments in the 2008 presidential campaign and in legislative proposals in Congress. Populist lawmakers in the House and Senate have targeted oil-industry tax breaks, and challenged pharmaceutical companies on issues from drug prices to generic substitutes to imports from foreign companies. The chairmen of the House Ways and Means and Senate Finance committees, and all three leading Democratic presidential candidates, have endorsed higher taxes on hedge-fund and private-equity managers or firms.
Efforts by Republicans and the business community to raise fears about Democratic tax increases, spending excesses or economic mismanagement have proved unsuccessful. In what Mr. Newhouse called a "world turned upside down," Democrats enjoy an edge in public approval that extends beyond such party strengths as health care and education, where Republicans trail by more than 20 percentage points.
Democrats lead by 35 percentage points on handling gas prices, by 24 percentage points on energy policy and 10 points on dealing with immigration. Even more notably, Republicans lag by 16 percentage points on controlling government spending, 15 percentage points on dealing with the economy and nine percentage points on dealing with taxes....."
The full article can be found at
America's Economic Mood: Gloomy