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October 14th, 2010
06:00 PM ET

How will your children's lives compare to yours?

FROM CNN's Jack Cafferty:

So much for the American dream….

A new poll shows that a majority of Americans are pessimistic about their children's future. More than half of those polled in the Bloomberg survey say they are "not confident" or only "somewhat confident" that their children will have a better life than they do.

This is a shocking statistic. For a very long time in this country - each generation has had the expectation that the next generation will have a better, easier, and more successful life than their own.

But the Great Recession may have brought all of this to a screeching halt.

One 65-year-old retiree from Massachusetts says of his three grown children, "I don't think they've got a chance," adding that he's "very angry at what's going on in this country."

Pluralities of people say they're not hopeful they'll have enough money in retirement, and expect they'll have to keep working to make up the difference. A whopping 85 percent say they've taken some steps to cut costs - from using coupons, to cutting a regular expenses like cable TV, telephone or internet service, to putting off a major purchase.

The outlook is bleak. A new survey of top economists has cut its growth forecasts for both this year and next.

They expect GDP to grow at a pace of 2.6 percent this year and next... that's down from the group's previous prediction of 3.2 percent.

They've also lowered their outlook for consumer spending - which makes up two-thirds of the economy - and expect this year's holiday sales to be "especially weak."

Here’s my question to you: How do you think your children's lives will compare to your own?

Interested to know which ones made it on air?

FULL POST


Filed under: Children • Longevity
October 14th, 2010
05:00 PM ET

Pelosi hurt the Democrats in midterms?

FROM CNN's Jack Cafferty:

House Speaker Nancy Pelosi may wind up doing in her own party in the midterm elections.

Speaker of the House Rep. Nancy Pelosi (D-CA).

Speaker of the House Rep. Nancy Pelosi (D-CA).

Jonathan Allen writes for Politico on how Pelosi, even more so than President Obama, could be the heaviest drag on the Democrats' hopes of holding onto the House in November.

All around the country, Republicans are using Pelosi's image on billboards, in mailers and in video clips to encourage voters not to support the Democratic candidate.

In Florida, billboards show one Democrat as a marionette with Pelosi as the puppeteer; and the National Republican Congressional committee is airing anti-Pelosi ads in dozens of districts that show how often a Democratic lawmaker has voted with Pelosi.

Midterm elections are usually seen as a referendum on the president, but Allen writes that if the Democrats lose the House, it's as likely to be a rejection of Pelosi, one of the most unpopular figures in U.S. politics today.

One expert says the strategy of demonizing Pelosi didn't work for the Republicans in the past two elections, but this time around it just might. He says the "vitriol" against Pelosi is similar to what Democrats showed against Newt Gingrich.

And Democrats are feeling the pressure. Several of them have already said they will not vote for Pelosi as speaker in the next Congress, that is if their party manages to keep control.

Other Democrats insist the GOP is pouncing on Pelosi because she has been so successful passing legislation such as health care and Wall Street reform.

Here’s my question to you: How much might House Speaker Nancy Pelosi hurt the Democrats in the midterm elections?

Interested to know which ones made it on air?

FULL POST


Filed under: Democratic Race • Democrats • Nancy Pelosi