Americans’ pessimism about the economy and its future is deepening, a USA TODAY/Gallup Poll finds, and they are increasingly willing to hold President Obama responsible for hard times.
Eight of 10 say the economy is in a recession, and nearly as many say it hasn’t improved over the past year. Even more ominous: Six in 10 predict the economy a year from now will be the same or worse than today, a downturn from the public’s views last year and the year before.
That gloomy outlook, economists say, can become a self-fulfilling prophesy.
[i]That gloomy outlook, economists say, can become a self-fulfilling prophesy[/i]
I would replace “can” with “will likely”.
Here, we see the fruits of the socialist redistributive wealth model administered by a rapidly growing central government that crowds out and seeks to destroy the private sector. Having watched this fail in Europe, it is a shame that it was inflicted on the people of this country. The good news is, that the people of this country can do something about it right now by letting their representatives and senators know their displeasure. They can erradicate the current trajectory of destruction next November.
The combination of reduced opportunities for personal success and punishment (through taxation) of success when achieved, by a repressive government using the coercive powers of the State kills the human spirit. Those who do not know history are doomed to repeat it.