By Andrew P. Napolitano
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Americans' confidence in the economy jumped this month, helped by a better outlook for the job market and expectations for higher pay.
Barack Obama has been president for 51 months, and America is still waiting for that change he told us to hope for. The latest economic indicators continue to point in the wrong direction: Durable-goods orders are falling, growth in factory output is sluggish and optimism is dissolving.
The average home price in the nation's top 20 cities rose smartly by 8.1 percent in the past year — the fastest increase since the peak of the housing bubble in the summer of 2006, according to the S&P Dow Jones index released Tuesday.
It was the tax cut that nobody noticed two years ago. And it was rarely mentioned in the fight between Congress and the White House last year over the expiring Bush-era tax cuts. But this month, the payroll-tax cut suddenly registered on everybody's radar screen — when it went away.
Recession is coming. That's the cheery news emanating from the green eyeshades at the Congressional Budget Office (CBO). The nonpartisan economists last month issued a report outlining the likely outcomes given a set of probable scenarios.
U.S. consumer confidence tumbled in December, driven lower by fears of sharp tax increases and government spending cuts set to take effect next week.
House Republican leaders said Thursday that they will bring their chamber back to town this weekend to try to avert the "fiscal cliff" — the sole optimistic sign on a day when pessimism deepened within both parties on whether Congress can avoid the looming tax increases and automatic spending cuts.
U.S. consumer confidence rose this month to its highest level in almost five years, pushed up by steady improvement in hiring.
A flurry of reports Thursday showed that U.S. consumers are growing more confident and spending more, boosting a still-weak economy just five days before the presidential election.
Stocks rose strongly Thursday on Wall Street following positive reports about manufacturing and consumer confidence, two keys elements of the economic recovery.
At first glance, it looked as if the elections might be a slam-dunk for Republicans this year, given the way presidents in recent history have fared in the face of poorly performing economies. But as the GOP is finding out, today's economy is a double-edged sword that is cutting both for and against President Obama.
Early this week, investors saw a modest jump in consumer confidence in September, according to the index compiled by the Conference Board. That brought good news, so-so news and even some bad news.
Four major business groups see gloomy times ahead for the job market and the economy, according to a string of separate surveys and polls released this week that cast fresh doubt on hopes that the economic recovery may have turned the corner.
Consumer confidence perked up this month while home prices posted their third straight month of gains in the latest signs that the economy continues to slowly but steadily improve.
U.S. consumer confidence jumped this month to the highest level since February, bolstered by a brighter hiring outlook.