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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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From: geode0010/26/2008 11:38:32 PM
   of 173976
 
"..He says that 80 percent to 90 percent of people believe the economy is worsening. Gallup has registered historic lows in consumer confidence and increased pessimism about the jobs market, which Jacobe says is an indicator that jobs numbers will continue to worsen.

In a mid-October poll, Gallup found that two-thirds of the people surveyed said they've been financially hurt by the financial crisis and 70 percent thought that their financial situation "will be harmed in the long run."

The frozen credit markets have had more than just a fiscal impact. "It's not only the unavailability of money but the psychological effect," Jacobe says. Consumers and small businesses "always thought they could fall back on their credit lines as an emergency source of funding."

But home equity lines of credit have dried up, leaving some dreams in the dust. What's more, the credit culture has chipped away at Americans' savings habits: Jacobe says surveys indicate that only 40 percent of the U.S. population has $10,000 or more in savings that can be easily tapped.

Not Your 'Garden Variety' Recession

Economists say that each recession is unique. So what kind of recession are we in?

Nigel Gault, chief U.S. economist for Global Insight, says the credit problems that underlie this recession have made monetary policy — the Federal Reserve's decisions to infuse funds into the economy or withdraw them — "quite ineffective" in supporting the economy. As a result, Gault says, it's "not a common or garden variety recession at all."...

npr.org

Yeah, sure, let's get dolt McCain and bird brain Palin on the job.

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