Good News for President Obama’s Reelection Bid as US Consumer Sentiment Hits Five Year High

More good news for President Obama and his reelection bid as US consumer sentiment rose to its highest level in five years in October as more people are becoming optimistic about the economy.

Reuters:  The Thomson Reuters/University of Michigan’s preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.

The new buoyancy among consumers comes shortly after the U.S. unemployment rate tumbled to its lowest in nearly four years in September as more people returned to the workforce and found jobs than economists had predicted.

So, what will the Republicans say? Will Mitt Romney continue to say the economy is in shambles or it’s recovering? Paul Ryan said unemployment is rising around us, but the Bureau of Labor Statistics begs to differ. Though Jack Welch and others, including Rep. Darrell Issa, would have you think the White House is behind the 7.8 percent unemployment rate.

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 Good News for President Obamas Reelection Bid as US Consumer Sentiment Hits Five Year High
Janet Shan is a freelance journalist and managing editor of the Hinterland Gazette, who is working on her first novel, a mystery based in the hills on Montego Bay.
  • pelmo

    Janet I am not a conspiracy theorist, but something is not kosher with this dramatic jump in numbers in so many catagories. Considering that Wall Street is posting lower earning numbers for a lot of companies and the companies themselves are predicting lower expectations for the fourth quarter.

  • http://functionalculture.blogspot.com Constructive_Feedback

    [quote]So, what will the Republicans say? [/quote]

    Janet:

    I am not sure what “The Republicans Will Say” BUT I am merely documenting the ECONOMIC INDICES upon which “Black People” were heard being ECSTATIC.

    Thus the next time an “Enemy President” is in office and we see STREET PROTESTS about “Black Unemployment at 13.4%” – it will be great to have a video tape of these present times, allowing me to question the veracity of these future marches.

    • http://blackpoliticalthought.blogspot.com HinterlandG

      Constructive Feedback — Read my latest article about Black America and voting for Obama.