Change isn’t always great
Sometimes the truth is not pretty nor popular but it does not change the fact that it is the truth.
A little over one year ago:
- Consumer confidence stood at a 2 1/2 year high;
- Regular gasoline sold for $2.19 a gallon;
- The unemployment rate was 4.5%.
Since voting in a Democratic Congress in 2006 we have seen:
- Consumer confidence plummet;
- The cost of regular gasoline soar to over $3.50 a gallon;
- Unemployment is up to 5% (a 10% increase);
- American households have seen $2.3 trillion in equity value evaporate (stock and mutual fund losses);
- Americans have seen their home equity drop by $1.2 trillion dollars;
6) 1% of American homes are in foreclosure.
America voted for change in 2006, and we got it! Remember it’s Congress that makes law not the President. He has to work with what’s handed to him.