Quote:
Originally posted by Superbelt
The economy isn't getting better. This quarter was an abberation caused by the tax cut.
The tax cut? See there! The tax cut worked!
Wrong, income is still dropping like a rock.
Spending, because of the tax cut stayed level while income did it's impression of David Caruso's career. They crossed each other with spending now on top and giving the impression of a real improvement.
The 4th quarter will not be as good because the tax rebate has now been spent. Their impact is gone.
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The economy will not be as bad as it is now - though it will drop again in the next couple months - when the election comes around. But it will not be much better and I put it at 50/50 that there will still be zero job growth (if not a continuation of job loss)
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Wait a second. I thought the tax cut was only for the wealthy? If so, how could the jump in consumer spending be attributed to the tax cut, certainly the rich don't make up enough of the consumer segment to influence it that much.
Seriously though, there's still a ton of money out there from refinancings, stock market gains, etc that is unaccounted for. Many are guessing that it will come out around the holiday season. I think people are hanging on to it as a cushion.
As to the main point of this thread, it will be a much different story when there is a name to that imaginary "anyone else". The baggage that goes along with a candidate heavily influences voters and without a specific opponent this poll says almost nothing.