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January 11, 2008
Posted: 05:55 PM ET
FROM CNN’s Jack Cafferty: “It’s the economy, stupid”… That’s the message presidential candidates are once again getting from voters. The economy now tops Iraq as the most important issue to Americans. The list of problems with the economy is long and getting longer: the mortgage meltdown, the credit crunch, the rise in unemployment, the continuing decline of the dollar and high gas and oil prices. It all adds up to the likelihood of a recession. A lot of people think a recession has already begun. The Wall Street Journal surveyed a panel of economists who put the chance of recession at 42%. Ordinary Americans are more pessimistic than those economists. A new CNN/Opinion Research Corporation poll shows 61%of those surveyed think the economy is already in a recession. And there’s more bad news: Moody’s credit rating agency says the U.S. government is now at risk of losing its triple-A credit rating, unless we do something to curb our soaring costs of health care and Social Security. U.S. government debt has had the highest rating possible (triple-A) since it was first rated a hundred years ago in 1917. This is a big-time alarm bell and should force the candidates to sharpen their focus on these issues. The problem is that the solutions require either higher taxes or cuts in benefits, and no politician wants to talk about those things during a campaign. Here’s my question to you: Which presidential candidate is most capable of dealing with problems in our economy? Interested to know which ones made it on air?
Candice writes: Taylor writes: G. writes: Erik writes: Robert writes: Filed under: Uncategorized |
Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he’s thinking and weigh in with your own comments online and on TV. Send your comments on the “Cafferty File“. Jack's Book
Read excerpts about Jack’s battle with alcoholism and Jack’s philosophy on parenting. CNN=Politics Screensaver
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