business news in context, analysis with attitude

ABC News and Money Magazine report that their weekly survey of consumer confidence showed a drop to a nine-year low, driven down by concerns about war and rising oil prices. Less than a quarter of the respondents to the survey viewed the economy in a positive light.

In addition, an ABC News/Washington Post poll indicated that a majority of Americans -- 53 percent -- disapprove of President Bush’s handling of the economy. It is the first time in his presidency that President Bush’s poll numbers have dropped that low.
KC's View:
We repeat. Don’t shoot the messenger.

And don’t blame the media for reporting about Americans’ economic concerns.

No matter how much some folks talk about the strength of the American economy, too many of us know people who are out of work, businesses that have collapsed, and families that are concerned about their futures now that savings and stock holdings have been diminished, if not completely wiped out.

That doesn’t mean the American economy isn’t resilient. But there’s a difference between strength and resilience.