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.