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July 28th, 2011
04:11 PM ET

What's your view of the current state of the U.S. economy?

FROM CNN's Jack Cafferty:

The general feeling about the economy in this country hasn't been great for a long time. And the stalemate on Capitol Hill over raising the debt ceiling has only made Americans more nervous... not just about the current state of their own households but about the future of the U.S. economy as a whole.

Unemployment's stuck at 9.2% and probably not improving much anytime soon. With all the uncertainty surrounding the debt ceiling, companies aren't exactly rushing to ramp up hiring. "Wait and see" is the prevailing game plan. Uncertainty is business investment's worst enemy.

Home prices are down 4.5% from one year ago. The housing crisis may not be over for several years. Bad news for a seller sometimes means good news for a buyer - but not right now. Even if you're lucky enough to get a mortgage, rates are going to be headed up - and if the U.S. defaults on its debt obligations, that will happen pretty fast.

Oh and your investments? If lawmakers don't raise the debt ceiling and the U.S. defaults on its payments for the first time in history, stocks could drop 30% over the following six months to a year. This is according to a new report from Credit Suisse.

Polls have shown Americans have been growing increasingly concerned with the economy, and the number of Americans feeling this way has been on the rise over the last few weeks. Nearly 3/4 of Americans in Gallup's Daily tracking poll say the U.S. economy is getting worse. That's up 11 percentage points since July 6. In a separate CNN-ORC poll, nearly six in 10 Americans now say that the economy will be in poor shape a year from now.

And in Washington the pathetic games continue.

Here’s my question to you: What's your view of the current state of the U.S. economy?

Interested to know which ones made it on air?

Paul:
If economic policy continues to be held hostage by a minority group, then things look decidedly grim indeed. It's obvious big changes need to be made in the way taxpayer money is spent. But without the willingness to work co-operatively then the status quo is all we will get, and we know where that will take us.

Thom in Negaunee, Michigan:
I believe it is a failed economy that has pandered to the wealthy and corporate interests and continues to do so. Too few control the wealth in America and the world. Wall Street is manipulated, Congress is bought and paid for, government no longer represents the people, insurance companies and banks own the world, big business is greed infested and people are apathetic.

Brian in Chicago:
I thought the economy was recovering, Jack. The Dow was up. The financial markets were stabilizing. The auto industries are paying back their loans. And the job numbers were improving. Unfortunately, with this Tea Party inflicted wound, the economy is heading off a cliff again.

Tom in Norfolk, Virginia:
The media reminds me daily that the U.S. economy is in trouble. I'm not convinced. My grown kids have jobs and homes albeit not necessarily the jobs or homes they envisioned during their formative years. The current economy is more like a dose of "tough love" balancing choices between wants and needs.

Randy:
Fitting question looking at the Parade magazines' annual "What Americans earn" issue. Oprah made $315 million, Dr. Phil $80 million, and Charlie Sheen made $30 million. Further down the chart a lifeguard made $7,000, and the mayor for Bowling Green, Kentucky made $16,000. Is there any doubt that this country has lost its collective minds regarding economics and how a successful economy works?

soundoff (266 Responses)
  1. Karl in Silverton ID

    TEA-ed off!

    July 28, 2011 at 1:08 pm |
  2. Josh C From NYC

    Dim.

    July 28, 2011 at 1:09 pm |
  3. Ray McDavitt

    How many voters are CEOS, derive most of their income from investments, or have trust funds? Each employee is his/her own small business, and when they band together, in a union, for example, they are doing the same thing members of Chambers Of Commerce do.

    July 28, 2011 at 1:18 pm |
  4. Loren

    Spinning its wheels in the dust storm of China. We've been led by politicians whose interests are solely their own who've sold our industrial strength to the Chinese for campaign contributions and no hope of recovery until we elect a majority that understand that the interests of the American people are paramount to the elected's personal interests.

    July 28, 2011 at 1:19 pm |
  5. Andy Hills from the Poconos

    Jack,
    I think the US economy is sluggish at best, it could pick up early next year. But my fear is these incompetent politicians who keep claiming they know what the american people want are going to push our economy of the cliff by letting the debt ceiling expire. And then what? we'll be back to where we were two years ago, people will be worse off, more forclosures, 401K's gone. How can they cause such a disasterous self inflicted wound to the economy?
    Andy

    July 28, 2011 at 1:35 pm |
  6. Greg in Arkansas

    Frightening, it's like watching helplessly as a massive Arkansas tornado approaches, not knowing when or where it will strike, how long it will last, how much damage will be done and what, if anything, I will have left when it passes.

    Jack, I'm heading to the cellar with the hopes I have stocked enough resources to weather this storm.....call me when it's over and safe to come out.......

    July 28, 2011 at 1:38 pm |
  7. Kevin SD Ca

    My view of the economy is for the educated idiots to get out of the way and quit trying to adjust things so they can stay rich! The banks have been artificially holding housing prices up and then they make it almost impossible to by distressed property!
    If the government would not have bailed the banks out, they would be processing the foreclosures rather than sitting on them. The only thing wrong with the economy is that it has been constipated by trying to work against it adjusting on its own! Anyone still know what laissez-faire means?

    July 28, 2011 at 1:44 pm |
  8. Larry Feierstein-Denver

    The patient (Economy) is in a coma, with very little likelihood of revival. If this were a consult, what we have is a patient, given a prescription without diagnosis, results in malpractice. The entire congress , senate and president should all be sued.

    July 28, 2011 at 1:48 pm |
  9. Jayne

    It's terrible. Wages are going down for those lucky enough to have jobs and prices for everything are going sky high. And now I read that the head of GE, an advisor to Obama, is sending his company's x-ray business to China! That sets a new standard for being unAmerican if you ask me.

    July 28, 2011 at 1:52 pm |
  10. Ed Hoffman

    If we could get the politicians out of the way, it would be fine.

    We need lower corporate and personal taxes, this will lead to more jobs, that will lead to more revenue, which will help us balance the budget.

    July 28, 2011 at 1:54 pm |
  11. ImALibertarian

    From Houston –

    The current state of the U.S. economy is BANKRUPT.

    July 28, 2011 at 1:54 pm |
  12. Conor, Chicago

    The current state of the economy is one beset by class warfare. It's like an alternate version of Oligarchical Collectivism made famous in Orwels' 1984. In that doctrine it is argued that history is simply a series of events in which the middle class always entices the poor over throw the rich. Once that's achieved old middle class becomes the new rich, exploits the poor just as the old rich did, and the cycle repeats itself.

    What's happening in America, and traditionally happens when free societies become fascist states, is the rich are enticing the poor to overthrow the middle class so that they will no longer pose a threat to challenge their power. It's not necessarily a conscious conspiracy. Such things never are. It's just everyone reacting to a series of events set in motion and everyone scrambling for their own personal optimal outcome.

    This might be a Reductionist/Marxist way of explaining it but you can't tell me it's not accurate. It's exactly what's happening.

    July 28, 2011 at 1:55 pm |
  13. Reginald Newberry

    I keep hearing reports that "Washington" is responsible for our current debt crisis. What [specificly] are they spending our tax dollars on that has pushed the nation so far in debt? Is it possible for a lower middle-class tax payer like myself to get a list of items or projects such as earmarks that do nothing to benifit our nation. I feel the american people have a right to know exactly how america got into this mess. It's all a matter of common sense. "Washington" can't come to an agreement or compromise because they have their own agendas and intrests they're trying to protect. They don't care about the "American People".
    –Newberry
    Cleveland, OH

    July 28, 2011 at 1:57 pm |
  14. Phil, georgia

    The economy is 10 times better than what we were gonna have to go through if nothing was done. Jobs are being created, people are spending money, banks are not collapsing, wall streets doing good and the future for our kids is being funded. Of course more investments needs to be made, like the speed rail, but the last year or two has been pretty good.

    July 28, 2011 at 1:58 pm |
  15. john thomas

    It had a fair chance for a good recovery before the republicans started driving nails in our coffin.
    Costa Rica is looking better everyday
    John T Florida Keys

    July 28, 2011 at 1:58 pm |
  16. Ed from Md

    None, the true state of the U.S. economy is top secret information, for national security reasons. I can only guess it's not something I want to know.

    July 28, 2011 at 2:04 pm |
  17. Denny from Tacoma

    The rich are still getting richer and the poor are still getting poorer. We are quickly developing a third world, undeveloped country within our own borders and will continue to do so unless we improve our education and put a halt to outsourcing. Products produced by outsourced parts of American companies should either not be allowed to be sold in the US or they should be significantly tariffed to produce such an effect.

    July 28, 2011 at 2:04 pm |
  18. Jo from Eustace TX

    The US economy is in the toilet and so are we. The only ones with their heads above the swirling water are in Washington, where they began and perpetuate this mess. Congress could do with a good flush.

    July 28, 2011 at 2:10 pm |
  19. LaWanda from Orangeburg SC

    Let's see job loss + inflation +a host arrogant and selfish Republicans can only = a TOTAL DISASTER.

    July 28, 2011 at 2:13 pm |
  20. Brad, Portland, OR

    I think we're in a very shaky recovery, and this debt ceiling battle might be enough to push us over the cliff into another recession/depression.

    Not just the fighting, and the potential for default. Even if they come to an agreement that avoids default, but requires trillions of dollars in spending cuts, they could deflate our fragile economy very quickly.

    July 28, 2011 at 2:13 pm |
  21. John in Alabama

    Jack: I believe we are wasting to much time with the debt ceiling battle. We need to create a climate for business growth. The Republicans are spending to much time trying to discredit President Obama. We need jobs, energy policy for Americans not oil companies, and tax reform that closes tax loopholes for individuals and corporations like General Electric. Special interest are being served, but the average American is loosing ground, because leaders who will not compromise for progress. Case in point: 401K's are suffering while Washington burns up its collective common sense.

    July 28, 2011 at 2:14 pm |
  22. Kirk (Apple Valley, MN)

    Improving, albeit slowly. At least it was improving until the GOP started their scare tactics.

    July 28, 2011 at 2:15 pm |
  23. Jk from Minnesota

    One word – shaky and it will be that way until Washington and Corporate america determines that growing jobs in this country and not in China is America's best interest. As long as profits are the only thing matter to Corporate America, Washington sadly will continue to cater to it.

    July 28, 2011 at 2:17 pm |
  24. Ed from Texas

    The economy is struggling due to lack of demand. And it's in jeopardy of slipping back into recession because states and the federal government are cutting spending. This, combined with the debt ceiling crisis, has caused me to take my money out of the market to stock up on cans of Vienna Sausage.

    July 28, 2011 at 2:19 pm |
  25. Madge from Saratoga Springs, NY

    In ruins.

    July 28, 2011 at 2:23 pm |
  26. Ryan Nowobilski

    Economy can be described using one word.... STINKS!!!!

    July 28, 2011 at 2:25 pm |
  27. steve

    Jack ,Love your articles.My thinking on the state of the economy is we are in the toilet .We are there for one reason and that is our goverments.Our goverments federal,state ,even local,are all on the take,it is on the news all the time that proves what i am saying.These goverments are like a monster,the more they eat the bigger they get,the bigger they get the more they eat.All the money that the goverment take out of our pockets,if spent by us it would go right back in the economy,when the goverments get it they send it to other countrys,and who knows what they do with it, because they do not account for any of it.There is no way that things can get better. Steve il

    July 28, 2011 at 2:28 pm |
  28. Alex in Bremerton, WA

    The economy remains barely positive in growth and job creation. Things started slowing down when the states ran out of stimulus money to balance their budgets and started to lay of teachers and police officers. NASA just laid off 1,500 workers last Friday after the last shuttle landed. Although private sector job creation may continue, I expect the double dip to the Bush Recession to begin as the massive spending cuts demanded by the Tea Party iconoclasts slash the federal job force. And all that economic doom and gloom assumes we don't default on the national debt!

    July 28, 2011 at 2:30 pm |
  29. Frances

    It's great for the rich. Really great!

    Fran
    San Diego

    July 28, 2011 at 2:31 pm |
  30. Wess

    It's ailing from unemployment, the corporations are moving overseas, the government is doing little to address it and bickering over the out-of control public debt in the meanwhile, and there don't seem to be any groundbreaking events or innovations at the moment to spur it into activity. I think that it could be doing better.

    July 28, 2011 at 2:35 pm |
  31. Brian (From Chicago)

    I thought the economy was recovering Jack. The DOW was up. The financial markets were stabilizing. The auto industries are paying back their loans. And the job numbers were improving. Unfortunatly, with this Tea Party lead self inflicted wound, the economy is heading off a cliff again.

    July 28, 2011 at 2:36 pm |
  32. Mike Erickson, MSgt (USAF) (Ret)

    San Angelo, TX
    Before law makers cut Social Security, Medicare, and Medicade, they should cut their own pension and medical plans for retired, serving, and future members of both chambers.
    Share the pain.

    July 28, 2011 at 2:39 pm |
  33. Edward Feyl

    it is disappearing just like jobs are.

    July 28, 2011 at 2:39 pm |
  34. David in Mississippi

    No jobs,no jobs, no jobs. Our government has sold us out letting corporations move away while still bleeding this country. If they really want to cut entitlements then bring back the jobs and get us back to work. I rember a time when you finished high school and could get a good job in manufacturing. Not everyone is college material and not every college graduate is educated.

    July 28, 2011 at 2:43 pm |
  35. Al Yanz

    Our politicians are the problem. We were not founded on socialism it has never worked and won't work here. Close our borders, bring our military home and take care of OUR citizens FIRST. The concept of a one world order doesn't work. Best solution at this point is to get rid of both houses. Each state has a Governor - Let them Govern.

    July 28, 2011 at 2:46 pm |
  36. Steve, Clifton, VA

    Jack

    My view of the current state of the U. S economy is from under water.....

    July 28, 2011 at 2:50 pm |
  37. Bizz, Quarryville Pennsylvania

    I think we are in serious trouble because our national debt and the tea party members who insist on sending us into default just to prove a point. The only chance for the economy to improve would be serious cuts to the budget along with tax increases and getting rid of tax loopholes. But that will not happen as long as you have the tea party members calling shots in the house of representatives. In the past you always had both sides giving something up and leaders like Tip O'Neill and Ronald Reagan coming to some kind of agreement. Today I do not see that happening. More and more it is begetting to look like we will go into default and that will send this economy into a tailspin.

    July 28, 2011 at 2:51 pm |
  38. Pete in Georgia

    My view is one of a toxic nuclear wasteland created by politicians who know ZERO about our free enterprise system and so, in their incredible ignorance of believing that "Government" creates jobs, they are in fact destroying what has worked for over 200 years.
    Liberal politicians can't stand varying degrees of success or extreme wealth.
    Welcome to the world of Russia's Lenin 90 years ago.
    Beyond sad.

    July 28, 2011 at 2:52 pm |
  39. Joe CE

    Worst ever and I lived thru h great depression. The sub-prime giasco trigger the current problem and obscured the fact hat it had been brewing for 15 years. THe underlying problem is susudal trade policies. I am for free trade in he long term, but it should have been gradual, taking into account significant fators such as health, safety, an nvionmental standards.

    July 28, 2011 at 2:52 pm |
  40. Ken from California

    Millions of jobs our indebted government used to finance by the trillions of dollars is now a memory. There lies our problem, no jobs in sight, those that pay a decent wages and the taxes from that employment.
    It’s jobs that make the economy, and there seems to be no apparent solution to those that has been exported out of the country.
    We can’t borrow anymore; we don’t make things anymore, we don’t have enough jobs to provide food clothing and shelter for over 300 million Americans.

    Then there is this population explosion thing we used to talk about a few years ago, and avoid today.

    July 28, 2011 at 2:55 pm |
  41. Gary H. Boyd

    Forgive me being crude Jack but "Our economy sucks". Owing over $14 TRILLION, how can it be anything else. Our economy is in the toilet Jack. We are a nation buried in debt. We are bankrupt Jack. Just unwilling to admit it. Have I made myself clear Jack? Our economy sucks.

    Gary in Scottsdale, Arizona

    July 28, 2011 at 3:01 pm |
  42. Richard Oak Harbor, Wa

    There is a powerful segment of US society that longs for the hardship of an economic depression to prepare the public for a world war where the real economic opportunities exist for them.

    July 28, 2011 at 3:08 pm |
  43. Greg M.

    Jack,
    FUBAR is what we called it in the military.
    Greg M. FL

    July 28, 2011 at 3:09 pm |
  44. Wilhelm von Nord Bach

    it's totally disfunctional, Jack.

    we have NO logical foreign trade policy. most countries protect their core industries. America just lets the Chinese Communists, with the help of American "Corporate Quislings" like GE's Jeffrey "Immelt-Down", run over the trade game.

    everyone laughted at H Ross Perot's "giant sucking sound" speech about NAFTA in 1992. turns out everything he said back then has come to pass. we have sacrificed the American middle class on the altar of so called "free trade".

    July 28, 2011 at 3:09 pm |
  45. Annie, Atlanta

    We're in a depression, and if the GOP has their way, they will vote to make it worse so the President doesn't get re-elected. I don't see the logic in government reps who took an oath hell bent on destroying what's left of our economy so that we pick them next time, but look what we did last November.

    July 28, 2011 at 3:12 pm |
  46. bob z fr ,pa.

    i don't know about you but i am scared we will lose our country .with the way people think we can afford the money this pres. is spending all the dem say bush fault agree but that don't change the picture.you can't run a copuntry and be 1.2 trillion over gudget we got to some hard work and cut all waste,trim the gov. we don't need 44 different agencies doing the same job and that is only one . it's now or never

    July 28, 2011 at 3:12 pm |
  47. Krissy

    The buffoonery going on in Washington over the debt ceiling should make Anderson Cooper's Ridiculist because its completely ridiculous. I think its time that we, the American people, gave our leaders the same advice that Speaker Boehner gave his fellow Republicans and get it done.

    Krissy M.
    Wister, Oklahoma

    July 28, 2011 at 3:13 pm |
  48. Thom Richer

    I believe it remains a "plastic" economy based on credit cards and bank loans that will never be repaid and most of which are made knowing full well they will not be honored by the borrowers. I believe it is a failed economy that has pandered to the wealthy and corporate interests and continues to do so. Money does not "trickle" down. If it did, the poor would be the richer of the two and the people at the top would not be making record profits off those at the bottom. Yet we continue to give to the rich and screw the poor even when failing. Too few control the wealth in America and the world. Wall Street is manipulated, Congress is bought and paid for, government no longer represents the people, insurance companies and banks own the world, big business is greed infested and people are apathetic. No change insight so failure is the only outcome.

    Thom Richer
    Negaunee, MI

    July 28, 2011 at 3:14 pm |
  49. Lori - PA

    Jack,

    How I view the state of the economy isn't fit for you to read on-air (if you choose to read what I say), so I'll settle for "sad".

    July 28, 2011 at 3:20 pm |
  50. Michael "C" Lorton, Virginia

    Jack: All I can say is that the economy is moving in the opposite direction--towards "rock botton,"-–and I pray that we don't hit it yet!

    July 28, 2011 at 3:20 pm |
  51. Tom from Nebr.

    Well Jack it's pretty anemic right now since Congress is spinning its wheels on the useless so-called debt ceiling issue instead of concentrating on jobs and the economy. If we had full employment we'd have a much smaller problem with the debt and deficit, but the worst do-nothing Congress in history would rather wage partisan politics than help the country get out of the mess we've gotten ourselves into.

    July 28, 2011 at 3:23 pm |
  52. O my God , Make a deal now , South Carolina

    i have no idea jack

    July 28, 2011 at 3:26 pm |
  53. Paul P.

    If economic policy continues to be held at the mercy of hostage tactics by a minority group, then things looks decidely grim indeed. Its obvious big changes need to be made in the way taxpayer money is spent and obtained, and without the willingness to work co-operatively then the status quo is all we will get, and we know where that will take us.

    July 28, 2011 at 3:31 pm |
  54. Rory Gamble

    Los Angeles, CA. I see an economy in the midst of a great transition. We are pampering our pride still, but I think most Americans acknowledge that the golden age of the old American industry has faded. I emphasize old so we may look forward to the new industry, which has yet to come. Currently our economy is in the dumps but I'm optimistic that another great American breakthrough in technology will create new demand and help reestablish our identity again, perhaps even an improved identity.

    July 28, 2011 at 3:33 pm |
  55. Tom Stites - Norfolk, VA

    The media reminds me daily that the US economy is in trouble. I'm not convinced. My grown kids have jobs and homes... albeit not necessarily the jobs (or homes) they envisioned during their formative years. The current economy is more like a dose of "tough love" balancing choices between wants and needs. Producers of wants appear to be thriving... and, government provision of needs continues to be impressive.

    July 28, 2011 at 3:34 pm |
  56. Peter Marx

    If you live in Washington DC or the surrounding suburbs you'd think the economy is just chugging along splendidly. Houses are selling, jobs available... just like it has been for the past 30 of 40 years. BUT if you go almost anywhere else in the country you find people scared, houses not selling, no jobs, unemployment lines getting longer and small businesses struggling to stay afloat. Vacant buildings and houses abound. THAT is the state of the US economy – everywhere except Washington DC.

    Peter Marx
    Steubenville, OH

    July 28, 2011 at 3:40 pm |
  57. Kevin in CA

    For the 1 percenters and big companies – it's great! For everyone else – it just sucks!

    July 28, 2011 at 3:43 pm |
  58. Jim, Denver CO

    Jack,

    Speaking as your average person I have to say my view is pretty bleak. Between the special interests, lobbyists, ultra right-wing wingnuts (like Grover Norquist), and Wall Street & MNC's greed sucking all the air out of the room I'm left wondering when I will become an indentured servant.

    It's just makes me so frustrated I can't even put into words what I'm thinking.

    July 28, 2011 at 3:43 pm |
  59. Curtis in Philadelphia

    Ask me this in a week.

    July 28, 2011 at 3:45 pm |
  60. Gary H. Boyd

    America's economy's "on hold" Jack. Small businesses employ 70% of the work force but are not investing in expansion, choosing to conserve cash. Therefore, hiring is down, unemployment is up and consumers aren't buying. Govenment incentivies are needed to encourage business investment and growth to get the whole thing moving again but that's not happening. Hence, I see the economy as being "on hold".

    Gary Boyd in Scottsdale, Arizona

    July 28, 2011 at 3:47 pm |
  61. Dave - Phx, Az

    My view of the state of the American economy is that it's hopelessly broken by free trade and outsourcing of jobs. It will never recover until our corporations start hiring Americans. We need to revolt and quit buying from companies that have no allegiance to the United States. Also any of these companies that fired thousands of Americans and brought in thousands of Indian's to take their jobs should not be used anymore. START BUYING ONLY MADE IN AMERICA STUFF.

    July 28, 2011 at 3:49 pm |
  62. Kathie

    Lower than the basement. the gop promised jobs but to date have not passed ONE jobs bill and remain preoccupied with their next election, taking down Obama and catering to the rich and corporations.

    July 28, 2011 at 3:49 pm |
  63. Stella-Northern New York

    Hello Jack. The economy can only head in one direction and that's down. It's not only going down it will hit the bottom and stay there for a very long long time. Don't count on our elected politicians or big business to change the direction and do something positive to create jobs or anything else here. Together they've spent the last 30 years creating policies in anything you can think of that defeats and ends the American Dream for the poor,the middle class and small business. We all need to stop calling ourselves Republicans,Democrates,Independents,Libertarians, or the Teaparty.
    We the people need to stand together as Americans if our Country is to be saved. Surely we have hundreds of thousands honest and brilliant minds out there who can create and put together a fair and honest party for the American people and American Business in this Country. What do all of you out there think? Are we going to save this Great Country we love??

    July 28, 2011 at 3:50 pm |
  64. Bob from Denver

    It sucks just like our politicians!!!!!!

    July 28, 2011 at 3:55 pm |
  65. Bill in New Mexico

    The state of the U.S. economy?

    It is time to sell nuclear subs, aircraft carriers, bombers, and fighters to the highest bidder.

    Pay against the National Debt (highest interest part).

    Sell all the Intercontinental missiles.

    Pay against highway and bridge repair.

    Sell all the nuclear weapons.

    Pay to build a modern and adequate electrical power system.

    Sell all the military secrets.

    Pay to develope a modern and adequate public school system.

    I would suggest not using Obama to negotiate for us!

    :

    July 28, 2011 at 4:00 pm |
  66. Pat (Missouri)

    We are in debt more than ever but I think it is fixable. The Republicans want to cut spending as in entitlements and maybe they can get by with some trimming but very much would be political suicide. People want to see big business and big banks suffer first. Then they might be willing to give up something in entitlements. "Hurting big business hurts job creation" just doesn't resonate with the public much anymore.

    July 28, 2011 at 4:03 pm |
  67. Tina Tx

    In my short 58 years I have seen the greatest nation in the world to almost becoming the next Africa where no one but the wealthy can make a good living. I do not like what I am seeing. Can we come back? Maybe but the greatness is gone forever. Sad to know the one country everyone wants to come too is becoming the bottom of the rung. They need to start running the Iron Eyes Cody commerical where he is crying cause that is how I feel.

    July 28, 2011 at 4:05 pm |
  68. Richard in CA

    Bad and about to get worse.

    Congress knows that.

    That's why they've created all the noise around the artificial debt ceiling crisis. They don't want to talk about the fact that they're unwilling to do anything useful. They represent corporations, not voters.

    July 28, 2011 at 4:06 pm |
  69. Carl

    Jack,

    Thanks to our corrupt politicians, it's very poor, and only going to get worse for everyone, except the corrupt politicians, they should all be in prison, including the Dick cheney and George Bush!

    July 28, 2011 at 4:07 pm |
  70. Michael Bindner, Alexandria, VA

    It is in a Depression with a capital D until something is done about underwater mortgages and increasing taxes on businesses who fire people for bigger profits and management pay.

    July 28, 2011 at 4:12 pm |
  71. Gary Summit, MS.

    The U.S. economy sucks. As long as we import from China, India and other countries the USA will never be the same. I don't give a rats behine what they produce and make. So what their labor is cheaper, so is their product. American made products have always been the best. When I go shopping and the item says made in China?, are you freakn kidding? I'm not buying it. I am indigent and without a job I need to work!

    July 28, 2011 at 4:16 pm |
  72. ron in kentucky

    Hi Jack , my view of the current state of the U.S. economy is appalling . No jobs in this country (plenty for China though). No policy to create jobs , except (don't tax the "job creators"),if that worked after 10 years of this policy we would have FULL employment . If our politicians and corporations acted this way during WWII we would all be speaking either German or Japanese . Most people want to work and they would like a decent wage . How do companies expect us to continue buying thier goods and services when people are trying to decide do I eat or pay for medication? We need return to manufacturing . Tear up NAFTA stop the new "free" trade deals with S. Korea , Colombia, and Panama . Make them FAIR trade deals.

    July 28, 2011 at 4:17 pm |
  73. riley oday

    The U.S. economy is in bad shape and will continue to worsen.

    The consumer buying power continues to erode due to lower wages and higher prices. It will not improve.

    July 28, 2011 at 4:19 pm |
  74. Jenna Roseville CA

    What's your view of the current state of the U.S. economy?

    Well it would a whole lot better if the GOP hadn't manufactured a "crisis" for their political gain. Debt ceiling.. as if!

    Too bad it is backfiring on them. Great for Democrats.

    We would all like the economy to have been better and it is our own darn fault that we voted in the TEAHADISTS and Republicans.

    Had the GOP worked with Obama and the Democrats verses blocking everything under the sun including their own legislation our country would be in much better shape.

    It is really ashame that the GOP put their own ambition and that of their corporate masters before that of the American people that they were suppose to represent.

    There is no way that I would vote for any Republican giving their actions.

    Jenna
    Roseville CA

    July 28, 2011 at 4:24 pm |
  75. Dennis north carolina

    The words that I would use to answer your question could not be put in print. as a independent, I think we need to look at a new form of government so children could not be elected.Define freedom will you, Jack?

    July 28, 2011 at 4:26 pm |
  76. pat in michigan

    We (the working class) are being held hostage financially by a power hungry bunch of elitists.
    Social Security ,which I and every other working man and woman have been paying into since the day we went to work is now a frill that our poor government can no longer afford to pay.
    Our Government can however burn through cash over a war or funding our propped up regimes.
    Medicare is a frill which Congress can no longer afford to pay, but the health insurance industry raises prices unchecked as does the health care indusry in general.Who is the demon here anyway?
    I feel like we are on the Titanic and only the Congress and Wallstreet get to ride in the lifeboats.God help us all!

    July 28, 2011 at 4:28 pm |
  77. Jim in Alabama

    Jack, except for the depression, which most of these young whipper snappers know nothing about, i've never seen it so bad! That's part of the problem. If these textbook economic Republicans and some younger lawmakers had had to live through that experience, they'd be scared as hell instead of playing games, posturing, and gambling with our economy like they're doing. After this is over, if we survive, we should check voting records and positions on every issue of each lawmaker and fire them accordingly! It's almost unbelievable!

    July 28, 2011 at 4:28 pm |
  78. Anthony J. Frascino from Swedesboro, NJ

    It appears to me that congress spends most of its time plotting for the next election and have little time confronting one of the worst economies in our nation's history. Every bill is a non-starter written to garnish more votes and doing nothing to ameliorate our economic morass. The twenty four hour media is exacerbating the problem by providing exposure to even the most obscure and idiotic politician and idea. This provides a stage for the nonsensical and irrelevant opinions that appeal to our banal society.
    I have very little optimism that these self-important politicians can confront the economy because wiser minds are becoming an endangered species.

    July 28, 2011 at 4:30 pm |
  79. Dee in New Paris Ohio

    In the toilet!

    And I'm not sure it can be fixed.

    But I bet the Chinese won't like it if we default!

    July 28, 2011 at 4:32 pm |
  80. Joan

    Off like a herd of turtles!

    July 28, 2011 at 4:35 pm |
  81. Cheryl in Bluffton, SC

    We've been growing slowly but steadily. Just as economists predicted, the recovery is slow and unemployment is a lagging indicator. Tell me again how defaulting on our debt will create jobs, Jack?

    July 28, 2011 at 4:43 pm |
  82. DON IN WESTPORT, MASS.

    Who cares about the economy.
    I'm one of the rich guys. I have millions and will always want for nothing. I can't wait for my next bonus. When I have billions I will move back to China. What do you think of those apples.

    July 28, 2011 at 4:50 pm |
  83. Gerry

    Our economy is a total disaster and it can be blamed on our government for not doing its job for decades. Our politicians for the last fifty plus years should be charged with dereliction of duty and their pay, benefits and retirement should be reduced accordingly. Its time to hold our politicians accountable and fine them. The instrument and rules to determine their degree of dereliction should be the U.S. Constitution.

    Gerry
    Ash Fork, Az 86320

    July 28, 2011 at 4:50 pm |
  84. Nate NC

    The Rich get richer and the Poor get poorer. It almost sounds biblical, yet the social-economic divide has put us just before the breaking point. The cannabalistic nature of society today has caused the Rich to devour the pursuit of happiness found within the middle class, leaving the Poor to pay our debts.

    July 28, 2011 at 4:51 pm |
  85. Arthur in Missouri

    Jack, my view of the current state of the US economy is that we need to be more efficient and effective and improve out international competitiveness. I recommend that President Obama turn off all services provided to congressional office buildings especially electricity and air conditioning. This would be fair exchange for the value we are currently receiving and might an incentive they would understand. However, I think we should leave the plumbing on as they are full of it...

    July 28, 2011 at 4:56 pm |
  86. Pete in Florida

    We're about 2 years away from becoming Mexico. Ten percent of the population will own everything, the other 90% will live jobless in utter poverty and will look pretty much like most of Alabama, and the country will be run by gun-totin' gangs. Look out Canada, we'll be heading for your borders soon!

    July 28, 2011 at 4:59 pm |
  87. Mark, Oklahoma City

    My view of the U.S. economy is that we need to trade places with the Chinese economy.

    July 28, 2011 at 5:02 pm |
  88. Michael Armstrong Sr. Sherman Tx.

    Look's like the fall of Rome at the moment but after Obama's gone things will look alot better .

    July 28, 2011 at 5:06 pm |
  89. Karen, Idaho

    The U.S. economy is in the toilet!!! As long as we continue to finance the middle eastern wars and build up the middle eastern countries, we cannot support our own problems. We need to say a final goodbye to Afghanistan, Pakistan, Iraq and all the other countries that we support. After 9 plus years, they should be ready to rule themselves in whatever means they choose.

    July 28, 2011 at 5:08 pm |
  90. Paul, Parry Sound, Ontario

    Flush. Not the one in poker. Not the one meaning wealthy. Flush. That other one.

    July 28, 2011 at 5:11 pm |
  91. David Gerstenfeld

    Jack, It's hard to believe that you asked that question. Our economy is buried so deep in debt & mismanagement at EVERY level of government that there is no view & won't be one for a long time.
    David, Las Vegas

    July 28, 2011 at 5:12 pm |
  92. AB

    From my vantage point, the economy is slowly improving and has a ways to go before we experience economic prosperity and full-employment. However, President Obama needs to make job creation his number one priority. He needs to create a Marshall Plan for creating jobs or creating the conditions for job growth. All sectors of our economy should engage in this process, not just the business sector. Tax cuts and consessions should be reserved for employers who are truely willing and able to put Americans back to work.

    July 28, 2011 at 5:13 pm |
  93. Kim Smith

    What economy?

    July 28, 2011 at 5:14 pm |
  94. Ralph Nelson

    Well, the national economy is sitting right up there on the point of the Washington Monument swinging this way and that way about to fall off into depression. We need a new president, a new Congress, a new Senate...all Democrats who got the message. Give them the power and force them to make the changes. We have a very, very bright future, but not with these Tea people. Raise taxes from 18% on the rich back to 38%, create jobs by restoring small business (fewest start-ups in history), get people back to work so they can increase tax revenues and lower debt. Like the song says: "Just Do It"

    July 28, 2011 at 5:18 pm |
  95. Paulette in Dallas,PA

    When is any government offical or news program going to finally come out and admit that this country is in a Depression? Call it whatever you want but when homeless shelters are closing,food banks are in need, public education is being cut,college tuition can only be afforded by the wealthy,houses aren't moving,and banks aren't lending,etc.,etc....it begins to be a Depression.

    July 28, 2011 at 5:20 pm |
  96. Richard

    Jack,
    I say bring on the debt crisis if it means higher interest rates.
    As a senior, I'm pretty tired of my savings getting a 1% return thanks to Gentleman Ben. 5% CD rates would make me feel a whole lot better now days!

    Richard
    Plano TX

    July 28, 2011 at 5:22 pm |
  97. Ken in NC

    The state of our economy is in China so it can't be seen from here. All we as Americans know is that the "Job Creators" are still creating jobs....... in China and we can't even see those jobs.

    July 28, 2011 at 5:24 pm |
  98. Larry from Georgetown, Tx

    Dismal at best Jack and none of the idiots in Washington get the message. This is from me to them, "Either work togehter for America or get voted out in 2012". No compromise on this one, it's my way or the highway.

    July 28, 2011 at 5:25 pm |
  99. Kim Smith

    The past Republican administrations, along with the current Republican mind-set, has done everything they can to dismantle the American dream and send it off to the highest bidder. How can anybody in Congress sleep at night knowing they are destroying the greatest country on earth just to fulfill their egos?

    July 28, 2011 at 5:25 pm |
  100. Jerry Jacksonville, Fl.

    BAD and is only headed down. Unless these jerks in Washington quit taking thousands of dollars from lobbyist and do what they were elected to do they have all but doomed the United States to a third world country

    July 28, 2011 at 5:26 pm |
  101. CRAIG R. MCNEES

    tampa, fl Our govt. says there never was a depression and the "recession" is over. They also are urinating on our heads and calling it rain. Too many people are out of work, jobs are still leaving the usa, too many homes are sitting empty, too many businesses have folded and they are empty too. Oh, and they want more money as they spent it all, again. It ain't raining.

    July 28, 2011 at 5:27 pm |
  102. Independent Joe

    Jack,

    I truley believe our fragile economy is on the verge of falling into the abyss.
    Capitol hill pledged jobs, jobs,jobs! They failed. They also pledged to work together to get spending under control. Again, they failed.
    Unless our leaders bring back the jobs that they helped export and figure out how to be more responsible with our taxes I am afraid we will fall off the edge.

    Joe M (Mn)

    July 28, 2011 at 5:28 pm |
  103. Jim Bailey

    My view is much the same as a harbor seal's toward an orca, a bug to a bird, a cow to a butcher, a beaten dog to a drunken owner, a turkey to Thanksgiving.....need I go on?
    Jim Bailey
    Cripple Creek CO

    July 28, 2011 at 5:29 pm |
  104. fay in pa

    It sucks bigtime

    July 28, 2011 at 5:31 pm |
  105. Stan Daugherty

    Has society become so complex that it is beyond human ability to manage it? Or, perhaps, political arrogance has so corrupted government that we are unable to extract ourselves from its claws? We may be witnessing the beginning of the demise of the USA unless someone is able to bring our political system back to reason.

    July 28, 2011 at 5:32 pm |
  106. Jan K. in Asotin,Wa.

    I was seeing some glimmers of hope but this whole debt ceiling debate is sending hope back into hiding. This is just sad, sad, sad.

    July 28, 2011 at 5:32 pm |
  107. JerryMorgan dayton,tennessee

    Everyone that holds office in dc has no idea what life for a working man is .Construction is bad no jobs. The house and the senate needs to live on 300hundred a week buy gas and food like normal people. Then they would see how the american people feel. The house and senate also obama are a joke to most working people

    July 28, 2011 at 5:32 pm |
  108. Sam

    Tragic. The economy is in bad shape, but it could be fixed with a proper understanding of economics. Unfortunately, we have a bunch of politicians who don't understand economics, or why the government should spend more, even spend borrowed money, when things are bad, and save during good years. This is economics 101, but too many politicians don't understand how it works, and they've taken control.

    Until somebody takes 5 minutes to explain how the economy works so that we can get an intelligent government, the United States will keep sinking.

    July 28, 2011 at 5:34 pm |
  109. Greg, Ontario

    Your economy like everyone else is recovering. Slowly for sure but it is still recovering from the nastiest crash sense 1929. The biggest detriment to the American economy now is Congress and the doom and gloom pushers in the media. You are certainly one of the worst Jack. I can't help but remember what a big fan you and Wolf were of President Obama and now you make him out to be a failure because he could fix all your problems in 2 years. How much is Murdoch paying you two anyway? Did he find something on your Blackberry or something?

    July 28, 2011 at 5:36 pm |
  110. Alexandra Caldera

    I feel like they are playing Russian Roulette with our life, due to the fact that we the people are the ones that are going to suffer the concecounses of all this problem. While I don't agree with the speakers plan because its only a resolution for a few months and than what. What happened to the belief of we the people and justice for all..............

    July 28, 2011 at 5:38 pm |
  111. Michael Roepke

    We actually pay companies to manufacture overseas and if we try to change this anomaly in the Tax law, we are told that we are harming the "Job Creators." If we educate the best minds in the world and then do not allow them to stay in the US, the overseas companies are the beneficiaries. If we can't control spending and raise revenue, we can't educate the children of the unemployed or maintain our infrastructure.
    We are losing it and all everyone wants to do is argue about it. Well, sooner than we want, the argument will be over.

    July 28, 2011 at 5:39 pm |
  112. marybeth, massachusetts

    Jack, the economy is in the toilet and is being flushed down the drain. I remember my grandmothers talking about what it was like during the Great Depression of the 1930's. They're both dead now, but I remember their words about how hard it was–no jobs, no money, no food, no healthcare, no way to limit the size of their families (no birth control). "Hoover" and "killing my family" were used in the same sentence. One of my grandfathers worked in one of FDR's programs–WPA–buidling roads. My grandmothers remember the bread lines, the soup lines, and still it wasn't enough. They were so grateful for any help, but they really wanted to work, not be on the dole. I think that is how it is now, for most Americans. They want to work.

    I never thought I would witness another Great Depression; I hope that the economy improves, but I think it is going to stay this way because there is no incentive for businesses to create jobs when it is cheaper to hire Communist Chinese for 2 cents per week and pocket the profits.

    July 28, 2011 at 5:39 pm |
  113. RickFromDetroit

    The economy is sluggish and moving sideways due mainly to the lack of consumer spending from the low income areas and the high unemployed in the country, and the Reagan Era exchange of the middle class for the wealthy, that has left us with substandard wages, that has forced the middle class into excessive borrowing, and has forced the government to grant tax cuts to the lower income levels in an attempt to offset the substandard wages and increase consumer spending, which has lead to an inadequate tax base.

    Our Elected Officials solution to all of this is further income cuts to the people in the low income levels, and greater tax cuts for the wealthy.

    Finally, President Obama says you need a college education to earn a living in this country.

    July 28, 2011 at 5:41 pm |
  114. Michael in Albuquerque, NM

    I went out to neighborhood bars and brewpubs last night. I did a little drinking and dancing. I found it amazing that most of the places were already packed before the sun went down. Everybody was smiling. Now either the state of the economy is being overly portrayed as negetive, or the bar patrons have adopted the attitude of 'eat, drink and be merry, for tomorrow we die.' As for me, I've got better things to do than listen to political pundits speculate about the economy.

    July 28, 2011 at 5:42 pm |
  115. Michael Armstrong Sr. Sherman Tx.

    I would call on all Americans to fly there flags upside down to show our distress to our leaders .

    July 28, 2011 at 5:43 pm |
  116. Mike from Texas

    Jack it depends on which side of the line your are behind. If you are a wealthy person, or Corporation like GE or Exxon who have paid little if any taxes on their huge profits, the economy is great....for them.

    For everyone else it is probably the worst they have ever seen it in their lifetime. Thanks to unfair tax structure and jobs being shipped overseas for the last ten years, we don't have the ability to stimulate our economy. Thanks to the Republicans our revenue has gone down, but our expenses continue to grow as they always have, especially the cost of war. America is in the position it is of borrowing because of the ignorant Republican base protecting the wealthy and corporations who they work for. I'm looking forward to 2012 and 2014 when we can call for a new deck of politicians hopefully, some smart ones because the deck we are playing with in Washington is ignorant and worn out!

    July 28, 2011 at 5:44 pm |
  117. Robby Bowling

    What economy ! While many now live paycheck to paycheck, the moron's in Washington passed healthcare & so now insurance rate's are going up. We quit drilling ( by decree ) for deep water wells costing thousand's of jobs.So gas cost's have doubled ( No relief in sight ) We let illegals stay in the country ( for votes ) that cost the taxpayers jobs & money . And if you donate to Obama's reelection you, can move jobs overseas for profit & political graft. For a third world country that we have now become , Not so good. PS : tell the president he can keep the hope & change crap.

    July 28, 2011 at 5:44 pm |
  118. Karl in Flint

    Considering the past ten years, I'm surprised there is an economy left. With Clinton resuscitating it after ten years of Reagan-Bush and then the complete financial disaster of the Bush-43 administration we are lucky there is anything left. Now with the Tea Party hell bent on finishing it off, it makes me wonder what's next. Obama assumed he would get congressional re[publicans to help repair their eight year mess, but so far, they aren't taking responsibility for anything.

    July 28, 2011 at 5:48 pm |
  119. Gigi Oregon

    We took a trip across the United states in the early 80"s I was shocked at the conditions of the American towns and cities and it has been down hill since, in spite of all the mind bobbling gadgets that have occupied our time in the past thirty years. Yes, while we had our noses in the computor these united states has been neglected even farther. But some have gotten rich and decided they didn't have to help maintain this once great country, so they sent their profits to build up other countries at the middle class expense. I believe it will get wore before it gets better. All those who have been brainwashed and robbed by corporate America and are own government will have to wake up and march on Washington. That's my view of the condition of the U.S.economy. We are no different than any other world country where our government has gotten "to big for ther breeches" And that's my opinion....

    July 28, 2011 at 5:49 pm |
  120. Rick McDaniel

    The economy is bad, has been bad since 2007, and will continue to be bad for as far into the future, as anyone can predict at this time.

    The national debt, right now, would cost every man, woman, and child in this country over $100,000 dollars, to retire. Just think about that. The scope of paying off that debt, is staggering. how can we even think about doing that, when there are no longer any jobs in America? It simply isn't possible!

    Why has this happened? Because our government has allowed Corporate America to ship our American jobs off shore, for decades! When women went into the work force, the price of everything went up, including labor, and in the 1970's, our jobs started to go off shore. In the 1990's China got Hong Kong back, and that gave them the resource they needed to become a world manufacturing force. Since then, it has all been downhill.......add the wars on terror (which will go on forever, because that's a religious war), which has drained our country of hundreds of billions of dollars, and the global depression (it never was a recession), and it is a wonder the US is still in existence.

    July 28, 2011 at 5:50 pm |
  121. Rich McKinney, Texas

    Jack we no longer have an economy. America simply exists by the grace of what others are willing to spend to keep our government going. America is now a poor investment and with the debt ceiling being raised our credit worthiness is gone. America can no longer pay its bills and what's worse is not just that it can not pay its bills but it can not pay back those it has already borrowed from without borrowing even more money. It’s a Ponzi scheme Jack. People are in prison for doing the exact same thing as our politicians are doing extending the debt limit.

    July 28, 2011 at 5:50 pm |
  122. Ageman - Las Vegas

    Down right scary! In the supermarket people look scared. Everything is so expensive and the uncertainty of the job market and the lack of faith in our leaders to turn this countries around is fading each day. Our future look bleek. Our children are loosing hope and they understand what's going on. They can't believe college educated intelligent people can act so stupid and selfish. We should as a people be able to fire them all and have a job fair so real american who truly care about this country can work toward the common goal for the people.

    July 28, 2011 at 5:51 pm |
  123. Roger from Phoenix

    It's bad , going to get worse ,Jack could you and CNN send me a few bucks for be a loyal viewer , I just ran out of Jonnie Walker .

    July 28, 2011 at 5:56 pm |
  124. steve - virginia beach

    Not good and not likely to improve any time soon. Our economy is driven by spending, hence employment at reasonable 21st century wages but 1/3 of Americans continue to be unemployed or involuntarily underemployed while corrupt politicians continue to refuse to free up over 10 million jobs by forcing illegal aliens to self-deport, stop unnecessary cheap imported labor that takes jobs and depresses wages. And refuse to curtail job outsourcing with import taxes while renegotiating 40 years of bad trade agreements.

    July 28, 2011 at 6:01 pm |
  125. Remo, from beautiful downtown Pflugerville Texas

    Well I see the American public getting ready to get a fire hose and wash all the political trash out of DC. You know what they say about stuff rolling down hill, we need to start at the WH and flush it all down past the Senate and Congress. JHoe Q Public is fed up, modest term, with our elected slef centered self promoting politicians. Maybe we should push for One term only elected officals can clean out the crap. Just my humble opinion...

    July 28, 2011 at 6:04 pm |
  126. Bob in Houston

    Under attack on all sides from the Republicans. If unemployment is high, President Obama will have a hard time getting re-elected, and they know it. The Republicans are trying to hurt the American economy in order to defeat President Obama; that is the only thing they care about.

    July 28, 2011 at 6:05 pm |
  127. Jeffrey Lakewood CO

    I want to be positive. It is hard when you pay the bills, get the groceries, stop at the gas pump and then say, where did it all go. I would like to afford a newer vehicle, tv and other items, but one has to be realistic in what one can afford as you may have a box on your desk and no job.

    July 28, 2011 at 6:10 pm |
  128. manny oliver

    I live right next to the Mexican border in El Paso, TX. We can see the effects of a dysfunctional government. I am 69 and I am worried of how dysfunctional US congress, that going to get this down graded lose
    are reputation in the world, the sad thing about all this it being by US congressmans because they do not want adjustments in taxes they are selling us down the tubes. What happen to their oath to the American!

    July 28, 2011 at 6:10 pm |
  129. Thomasine

    What has happened to the Grand Olde Party. I feel that I am watching a Looney Toons cartoon: lemmings racing to the brink, led by a crocodile, a weasel, and a chipmunk. God save America. Let's pray they lose.
    TJ in the Great State of NY

    July 28, 2011 at 6:11 pm |
  130. Hilaire

    Jack,
    The economy is in terrible shape. I think, there should be a limit for those people in Congress and the Senate to be re-elected, so we can have new thinkers with fresh mind to decide the future of this country. Obviously, with a House with all these Republicans. We are all stuck.

    July 28, 2011 at 6:13 pm |
  131. Mary Steele Yorktown VA

    The U.S. economy is in serious trouble!! With massive unemployment and resources unable to keep up, we have to stop trying to employ, educate and take care of the world!! There's no excuse in borrowing money and giving it to other countries, and there is no excuse in letting 14-22 mllion of our unemployed lose their home, do without, or cost billions in unemployment while they still allow 8 million illegals to work OUR jobs!! If getting people back to work is key to our economic growth, return 8 million jobs back to OUR unemployed!!

    Yorktown VA

    July 28, 2011 at 6:14 pm |
  132. Tom Walker

    We are in a poker match with the best players in the world. The poor dropped out long ago and now the middle class is starting to drop out. The best players, now with fewer folks to make money from, are starting to swat at those that are tapped out and scrounging around for chips that have dropped on the floor.

    July 28, 2011 at 6:15 pm |
  133. John

    There's no doubt that it is bad, very bad; the question I wonder about is if there are going to be any ear-marks involved with any of the votes that will eventually be made regarding raising the debt level?

    July 28, 2011 at 6:15 pm |
  134. Donna S

    I keep hearing about our debt and entitlements but I never hear about the money that is spent in aid to foreign countries. Isn't this a part of our "debt" and what we spend? If not, why not? I read that 1/3 of of foreign aid in 2010, over $4 million dollars, goes to Isreal and Egypt! Can that be true? They aren't 3rd world or developing countires! I suppose that its really a drop in the bucket compared to our debt but its indicative of how we spend and where are prioities are, isn't it?

    July 28, 2011 at 6:16 pm |
  135. Jerry

    To put it bluntly It's in the crapper
    Jerry
    San Mateo, CA

    July 28, 2011 at 6:16 pm |
  136. mark in arkansas

    I think it's time to save our tax dollars, shut down the Federal Government, and send them all home. Minnesota shut down for two weeks. No one missed them until the beer started selling out. Believe me, I would NOT miss the crap coming out of DC right now.

    July 28, 2011 at 6:18 pm |
  137. Ray in Knoxville

    Jack, 30 years ago, the GOP declared war on the middle and working classes in this country. That largest segment of the U. S. population can no longer afford to spend enough money to prop up the economy. I don't see anything happenig in Washington to change that.

    July 28, 2011 at 6:20 pm |
  138. Dan M

    Fantastic !

    The fear mongering debate over raising the debt ceiling is lowering stock prices..which means that our 401k will be worth next month as we get more shares for less this month.

    All working Class Americans that are invested in IRA's ,401K etc.. finally get to profit off of fear mongering..like Rush and Glenn Beck do everyday

    July 28, 2011 at 6:21 pm |
  139. Ronald Watson

    Two words... bleak...

    July 28, 2011 at 6:23 pm |
  140. Robert in NM

    They started giving away the decent good paying jobs in the 80's. Now that we have had 30+ years of that, THEY wonder why the economy is tanking? That is what is pathetic, Jack.

    July 28, 2011 at 6:23 pm |
  141. CJ (Herndon, VA)

    Going to hell in handbasket...

    Thank you....

    July 28, 2011 at 6:23 pm |
  142. barbara hedstrom

    No one has answered why we cannot use the money in Ft Knox to pay down some of this debt.

    July 28, 2011 at 6:23 pm |
  143. John Abromavage

    For months I've been listening to politicians, the rich and like myself the poor gripe and moan about the economy yet what I've seen even though I'm legally blind is totally the opposite of what they are all saying. Every day here in the south were we are "supposedly" poorer than everybody else at all of the "high" end stores and restaurants I see the ones complaining about the economy spending hundreds of dollars for items not needed. I'm talking ipods, iphones, electronics tvs, at restaurants the expensive ones ie: red lobster, applebees and local ones they are always packed out, than you have the sports venues and local entertainment. If people were so "broke" as they gripe about they would be sitting home like myself and saving their money not blowing it on overpriced food, sports they can see on tv or clothing that is not made in America.

    The politicians and the rich gripe about the economy because the politicians are rich and the rich pay/bribe the politicians to keep them from paying taxes that would help bring down the debt even though the rich wouldn't miss it anyway. The rich want to have their lavish lifestyles and things they do NOT NEED knowing the poor made them rich and they can care less. The politicians get rich by being bribed by the rich to protect their ability to keep getting rich. The plain fact is on 1 million dollars the interest alone would keep anybody alive comfortably. People want more and deserve far less and the ones that got them there are left behind and are too afraid to stand up for themselves. People are WEAK, they prefer to be on tv, radio, get rich by suing for no reason rather than making their life better by working hard and being paid for it by the undeserving rich and the undeserving rich politicians don't fight for them, they fight for the rich. Most americans are like sheep, they are followers not leaders and that is the problem in the country today, nobody can think for themselves.

    July 28, 2011 at 6:24 pm |
  144. Joe

    Jack,
    You asked for my view of the current state of the US economy, which is "the rich are getting richer, and the poor are getting poorer." Reminds me of the famous philosopher Forrest Gump who said, "stupid is, as stupid does."
    Joe, Binghamton, NY

    July 28, 2011 at 6:24 pm |
  145. Dwayne

    It Sucks! As if the recent recessions wasn't enough now we have our incompetent politicians playing with our 401k's by hanging this debt ceiling over our heads. As a proud Republican I am embarrassed by the Republicans refusal to get the job done and instead just trying to make sure Obama doesn't get elected again by making sure they get credit for any debt agreement. They are playing with our retirement funds and I'm sick of it. Get the job done today or we will put someone in office who will. Me for instance!

    July 28, 2011 at 6:24 pm |
  146. Willie

    I feel sad and angry at what's happened to the US economy. It's a shame that's it's taken this crisis to get people to start waking up and look what's going on around them. For far too long we've just been sitting in a daze hoping that someone else can fix our problems.

    July 28, 2011 at 6:24 pm |
  147. Maria Raymond

    How I feel about the current/future state of our economy can be seen in the increase in anti-anxienty pills I'm taking. And for the first time in my life, I'm looking for another country to live in. For me, that says it all.

    Maria Brunswick,MD

    July 28, 2011 at 6:24 pm |
  148. Robby Robinson

    Let's just say that the state of the economy and those trying to fix said economy is akin to 5 monkey's trying to get frisky with a football !!

    Just sayin'....

    July 28, 2011 at 6:24 pm |
  149. Mike from Texas

    Jack 10 years ago I owned a home, had a 401 K, and an average job that paid over 50K a year. Now like millions of American's I have none of that and work just above minimum wage. We no longer have the American dream we have the American nightmare thanks to our dysfunctional Government. You can't cut revenue, make it easy and profitable to ship jobs overseas, and support this country. You also can't support the wars that cost us exactly what our deficit is. We want our country back, we want our American dream back now. So Washington wake up and listen to your employers we will fire you for someone who can do the job for the majority not the minority!

    July 28, 2011 at 6:24 pm |
  150. Ladonna Bartlette

    It Sucks, from Surprise Az.

    July 28, 2011 at 6:25 pm |
  151. Ray Arkansas

    For one I am sick and tired of hearing Republicans this and Democrats that. The economy is in free fall and all our leaders can do is bicker like two year olds as our great nation goes down the toilet. Both partys need to grow up and do the jobs we elected them to do. ENOUGH already.

    July 28, 2011 at 6:25 pm |
  152. Ishmael

    What economy? We should call this country the United states of CHINA. Our founding fathers are rolling over in their graves right now. What a shame to have such twisted and corrupted leaders. I am so angry and Im sure millions of Americans agree with my feelings! Enough is enough!

    July 28, 2011 at 6:25 pm |
  153. Phat Tater

    Too much greed, to much selfishness, the miracle of life floating 60,000mph on a wet rock and we evolve into this.

    July 28, 2011 at 6:25 pm |
  154. Jana in OH

    Our economy is HORRIBLE!
    The USA does not sunset or audit programs, so we just keep paying for programs and departments that have redundacies and are inefficient.
    2 ways to help the debt and deficiet crisis:
    1) End 1974's baseline budgeting law immediately
    2) Immediately roll back all government departments budgets to 2009 levels.
    Why aren't these options ever spoken of? At this moment, we are not talking about cutting any spending, we are talking about cutting the INCREASE IN SPENDING. This is part of the UNREAL world that the politicians in D.C. live within.
    GET REAL and quit all the lies and doubletalk.

    Jana in OHIO

    July 28, 2011 at 6:25 pm |
  155. Joe Seefried

    From Colorado

    The current state of the U.S. economy? Ever watch a Korean missile test. They can get the missile off the ground, but it never goes in the direction it should and the test always ends badly.

    July 28, 2011 at 6:25 pm |
  156. Laura Brown

    The economy is a tornado, building in ferocity, waiting to touch down and wipe us out.

    As an SSD recipient, with no chance of going back to work, I am flat out terrified.

    July 28, 2011 at 6:25 pm |
  157. MichaelB

    Its like having a ford pinto when you used to have a mustang, and now no matter what happens you have to drive it. Despite the two muggers that keep on busting the windows.

    July 28, 2011 at 6:25 pm |
  158. Kris

    I feel that our economy is on suicide watch. Our stalemate in Washington is only causing uncertaintiy to employers, the owners of our debt, and the people of the country worried about their futures. We are making a joke out of our country

    July 28, 2011 at 6:25 pm |
  159. Patricia Pohl

    It is as though the American people – as a whole – are onboard the Titanic, and the captain – and his crew (Congress!) – are determined to purposefully direct the ship onto the largest iceberg they can find! We're sunk.

    July 28, 2011 at 6:25 pm |
  160. John from Louisiana

    Held hostage...the Tea Party makes the Somalia pirates look like amateurs.

    July 28, 2011 at 6:26 pm |
  161. andy

    when people say the Congress is doing nothing and they should "compromise", what they mean is, the other side won't give in. I sent my Democratic congresswoman to Washington to fight against the Republicans, and that is exactly what she is doing. Conversely, the right-wing sent the Tea Party to do what they are doing. Each side does NOT want their side to compromise. So what do you expect? This is Democracy.

    July 28, 2011 at 6:26 pm |
  162. E Wolf

    The state of the economy is terrible. This entire mess is a political show, an attempt to get rid of Obama by creating a situation that is unstable and blaming him. Mitch McConnell said his number one goal is to get rid of him and he is willing to sacrifice the USA to do this.

    E Wolf
    Phoenix

    July 28, 2011 at 6:26 pm |
  163. Joseph Fraser

    Depends on who you ask, Wall st. and big business are doing fantastic looking at their second quarter earnings. If you ask a construction worker its been a depression for 2 years and counting. Can we go back to the 3-1 deal and invest in our infrastructure and education so we can turn this economy around.

    July 28, 2011 at 6:26 pm |
  164. G.L. Marshall

    Wall Street will make billions off a government default–just look at the latest uptick in credit default swaps related to Treasuries. The fat cats in the economy are going to do great. Rest of us, not so much.

    July 28, 2011 at 6:26 pm |
  165. Nick

    It appears as though our country's credit rating downgrade to AA is the answer to punish congress for their failure to compromise and deliver on a legislative solution to our immediate problems. In fact, one could well argue we already deserve a AA rating whether or not we reach a debt deal.

    July 28, 2011 at 6:26 pm |
  166. Brian

    It's terrible, but it's right where it should be. We have been overspending, both as individuals and as a country, since the Great Depression. Our economy was artificially strong for 70 years through the spending of borrowed money. We now have to tolerate a recession to bring it back into balance.

    July 28, 2011 at 6:26 pm |
  167. Michael, from Alabama

    I see the current state of the US economy as very ill and in need of treatment. However, Speaker Boehner is not the right doctor to administer the treatment, as he's more prone to euthanize the economy rather than save it. What we need is a plan that will pay the debts, raise the debt ceiling, will not affect social security, education, etc.. and bring more jobs to the country.

    July 28, 2011 at 6:26 pm |
  168. Sam Martin

    Dismal – unless you are in banking. They are the only ones that seem to be really profiting. They created the crisis, got bailed out, and made a profit. They then raised rates on consumers and made more. Now they complain that the government that bailed them out has too much debit as a result of their own actions and are going to raise rates on the government too. What a deal they have. I doubt the rest of us are going to recover for a long time, if ever. But the banks will just bleed everyone a little more because of our lack of recovery. We will be a worse credit risk.

    July 28, 2011 at 6:26 pm |
  169. Victor

    Isn't that an interesting question? The same as congress....it sucks. Isn't that a parallel. They both suck, but congress more so because of their inactivity to do something right. As I've said before, start with cutting their salary and benefits. After all, they aren't doing much of anything.

    July 28, 2011 at 6:26 pm |
  170. Richard Peat

    The economy is still bad because the Republicans are doing everything they can to keep it that way to discredit the president.
    Even though they know it is hurting everyone except the wealthy.
    They are pathetic.

    July 28, 2011 at 6:26 pm |
  171. Bryon

    Jack, I am a disabled veteran who has been unemployed since May 2008. After submitting over 1200 applications and not finding a job, I am left to depend on my VA benefits while my unemployment insurance ran out more than a year ago. My view of the economy is pretty bleak right now. My opinion of those charged with the purse strings is equally as dismal. I can't believe that the country that served has come to this deplorable state of affairs where government will sacrifice the people to prove a political point.

    July 28, 2011 at 6:26 pm |
  172. Ed Hansen

    The economy is struggling. The freshmen members of congress are so incompetent that they can't figure out that revising the taxe code would put Americans back to work and help pay down the debt.

    July 28, 2011 at 6:26 pm |
  173. RD Holt

    I think our problem with the economy, unemployment etc. is contrived by the GOP in cahoots with big business to help insure a Democratic defeat in 2012. It's the only way they think they can win. RD in Texas

    July 28, 2011 at 6:26 pm |
  174. Ed Fertik

    Bad and getting worse because this president has spent incredible amounts of money on bailouts and social programs that sound good but don't work. The stimulus stimulated nothing but unemployment! As Obama trys to make America a socialist country like Greece our capitalist system is dying a not so slow death. God help us all if this man is elected again.

    New York

    July 28, 2011 at 6:26 pm |
  175. pad

    Jack can you tell me what is the date of bankruptcy and will this be national holiday in the future? Who will get credit for this??
    Paul
    Ames Ia

    July 28, 2011 at 6:26 pm |
  176. Bill Antioch Il

    The economy is terrible and will not improve until the people in Congress get their heads back into the sunshine and do something. They seem to forget they are elected and can be voted out.

    July 28, 2011 at 6:26 pm |
  177. R. Dickerson

    Jack,
    If any of the current members of our government from the president on down had any sense of honor they would resign immediately. None of them can claim to have done the job they were elected to do. Politician with honor... there's an oxymoron if ever there was one.

    July 28, 2011 at 6:27 pm |
  178. JA

    I feel pessimistic about the future of the economy because we have a majority in the US House who are playing brinkmanship with the US, and global, economy.

    The GOP wants a free lunch. After 8 years of the GOP wasting money, getting the US into bullshit wars, giving deficit-inducing tax break, non-funded health plans, they don't want to pay the bills they racked up.

    The only solace I have is that the American people will realize what jokers the Republicans are after this mess and not put them into office ever again.

    July 28, 2011 at 6:27 pm |
  179. Harry

    We are headed toward social unrest. After Bush we needed a great leader to get things back in the right direction. Barak Obama's style of slow and steady, measured and balanced, compromise is not fixing anything, and is just pissing everyone off. When he leaves office, NO One will like him. We are headed for social unrest.

    July 28, 2011 at 6:27 pm |
  180. Joe

    Not good and not likely to improve any time soon. Our economy is driven by spending, hence employment at reasonable 21st century wages but 1/3 of Americans continue to be unemployed or involuntarily underemployed while corrupt politicians continue to refuse to free up over 10 million jobs by forcing illegal aliens to self-deport, stop unnecessary cheap imported labor that takes jobs and depresses wages. And refuse to curtail job outsourcing with import taxes while renegotiating 40 years of bad trade agreements.

    July 28, 2011 at 6:27 pm |
  181. Krissyandrews

    If congress cannot get this debt issue resolved, I think that we should round up everyone and I mean everyone who is unemployed, homeless on Social Security including disability pack up tents and sleeping bags and we all head to the steps of congress and start a TENT CITY to get through to these idiots so that they can see what they have done to the hard working Americans!

    July 28, 2011 at 6:27 pm |
  182. David Nova Scotia

    What US economy Jack ..... bin gonzo for some time and what we have is money markets for the rich and fast food jobs to spent our pennies at Wall Marts.

    July 28, 2011 at 6:27 pm |
  183. Rod - NJ

    What we need is a good old fashion revolution! Our system of government no longer works.

    July 28, 2011 at 6:27 pm |
  184. Jim

    Georgia : We are doomed. That simple.When I say "we", I mean all the little people, those of us who worry if we can afford enough gas to get to work until the next paycheck, that is, if we are the fortunate to get paychecks. The well-off never worry about that, just winning, no matter who looses.

    July 28, 2011 at 6:27 pm |
  185. Omar Shaheen

    The US no longer needs Al Qaida, since it appears that Washington, DC is more than capable of shooting itself in the foot!

    July 28, 2011 at 6:27 pm |
  186. daniel ehlers

    the us economy is too complex for the human mind, especially a party focused mind, the government must be replaced by super computers as soon as possible. there exist logarithms in universities around the world that could do much much better

    daniel ehlers
    indiana

    July 28, 2011 at 6:27 pm |
  187. Karl in Flint

    Jack, a year from now, if there is a country left, could you start to rerun these segments to remind us to get rid of the republicans that got us here? Please? Thank you.

    July 28, 2011 at 6:27 pm |
  188. Beenu singh

    I migrated from India years ago for better life, now i feel the way things look like that i need to go back home for better future.

    July 28, 2011 at 6:28 pm |
  189. Suzanne

    Corporations need to think more about their patriotic duty and less about their bottom line and bring jobs home. Yes, they may pay higher wages, but spending and tax revenues in this country will go up naturally without government assistance. These corporations and the wealthy people running them should make sacrifices for their country. The rest of us are.

    July 28, 2011 at 6:28 pm |
  190. Ed in Sacramento

    It;s not an "Economy" rather a stone around our collective necks.

    Ed in Sacramento California

    July 28, 2011 at 6:28 pm |
  191. Randy

    Washington is controlled by big money donors and they are not affected by any economic downturns, so they don't care about the rest of us that have to work for a living as lomg as they have their politician in their pocket and they are comfortable. The American voters have been duped into supporting these extremists on issues like gay rights, gun control, and abortion. Now they will suffer the real agenda.

    July 28, 2011 at 6:28 pm |
  192. Mark, Round Hill, VA

    Depending on what the Congress does today, we are on the brink of either an Apocalypse or an economic recovery. A recovery will be tepic so long as the rich continue to get richer and the middle class continues to shrink. The Tea Party Republicans need not worry about breaking their absurd promises-none of them will be re-elected if they don't vote on a budget deal in time to avert a disaster. I call for massive protests at the offices of each member of congress and at the Capitol building in D.C.

    July 28, 2011 at 6:28 pm |
  193. Melva Slonin

    If the US defaults on it's obligations causing pain to to citizens, can we as citizens be allowed to default on our creditors and pass the pain along to our creditors?

    If the US defaults we will lose our retirement savings that are in the stock market and probably lose our home because of the cuts in Social Security, therefore, the economy is irrelevent right now.

    July 28, 2011 at 6:28 pm |
  194. Gayle Golden

    I would like to know where Junior and Dick Cheney are hiding? They should be in jail for doing this to the U.S. They ran up their credit cards and now expect the middle class to pay their bill! Why doesn't anyone see this? The numbers are there! This 2% is killing us. They took away all of our jobs, and downgraded our pay. They want to break the unions so they can have slave labor and pad their portfolios. What will they do when we are ALL jobless and homeless? Who will carry them then? Take heed all you Republicans who are not in the 2%, you're next....lol

    July 28, 2011 at 6:28 pm |
  195. Steve Deetsch

    To cut spending during a near depression makes no sense. Would you stop watering the crops during a draught ? If we don't water the crops there won't be a next year.

    July 28, 2011 at 6:28 pm |
  196. Matthew W

    It's going down the drain along with my faith in the President and Congress. This ridiculous "mine is bigger than yours" game they have been playing has now put the entire country at risk and they obviously don't care even in the last minutes of the game. I'm so glad they enjoy their over inflated salaries and free health care while the rest of us have to sweat out the process of getting a loan or a credit card with interest rates that are about to soar. They have no idea what the American people want, so I'm going to tell you what the American people want: "Go to hell, all of you."

    July 28, 2011 at 6:28 pm |
  197. Joan C Hill

    Dear United States Congress & Senate,
    Last year I mismanaged my funds & this year my family & I cant decide on a budget. Until we come to a unified decision that fits all of our needs & interests we will have to shut down our checkbook & will no longer be able to pay our taxes. I'm sure you'll understand. Thank you very much for setting an example we ALL can follow.
    Sincerely, United States Voting Citizen

    July 28, 2011 at 6:28 pm |
  198. Al

    Economy !! what economy are we talking about ? The world used to look up to us and follow us. Right now they are laughing at us, because we made a fool out of us by blaming each other and pointing at each other. Nobody who was elected "by the people" is working "for the people.

    July 28, 2011 at 6:28 pm |
  199. Jason

    What happens in the U.S. economy directly affects everyone, even us in Canada. After watching for weeks the absolutely idiotic claims of the tea party, which are totally out of touch from any reality, your country could become the laughing stock of the world because of morans fighting over tonka toys in the sand box. Some advice for republicans, kick the tea party out and make them form their own party, you'll be better off. You country really needs a third political party because with only the two you have, you will continually run into issues like this. The world is watching and it's embarassing. Run with Obama's large scale plan.

    July 28, 2011 at 6:28 pm |
  200. Michael Dulak

    Dear Jack,

    Se hablo espanol. I'm learning because my new address may be south of the border soon.

    I do not see anyone as MY representive in Washington. Hey, millionaires don't have to concern themselves with trivial things like, uh....making the next mortgage payment, finding a job, paying for health insurance or...........maybe planning a bank job with a squirt gun.....its all I can afford these days.

    July 28, 2011 at 6:28 pm |
  201. gin arnold

    What bad economy Jack? Our economy in Orange Beach is great, our business is up but that is because we are doing business with the small minority that still has business and money. It is a foolish kid’s game being played out in Washington and we, the people are the victims. It is time to step up and do the right thing but that means we have to have the right people and therein lies the problem.

    July 28, 2011 at 6:29 pm |
  202. Mark Crouch

    Just look around this summer, from the grandstands at NASCAR baseball and even county fairs, the crowds are smaller. The last time I had to park more than 30 yards from a store entrance was Christmas Eve. The only traffic jams are rush hour near construction zones, I can't even find a lonely widow to strike up a conversation with at the Penny slots casino after 8 p.m. so you tell me...is that normal?

    July 28, 2011 at 6:29 pm |
  203. Ann Ray

    The debt talks are a farce to confuse and intimidate the american people so the haves can keep it and the have nots can disappear from the face of the earth. We get it so no need to listen to cable news just move on to real news like Aljeezera or free press.

    Things are getting so bad with all the manipulation of the media for profit that we may end up like Greece. We do need a new government and soon. Not a tea party farce either. A real working government that serves "we the people" and it looks like we need to take our government back and build a better one. I'm retired and willing to help if others will just step up and lead us.

    July 28, 2011 at 6:29 pm |
  204. Mike / Bend Oregon

    I think our economy and the global economy is in the early stages of a major transition. Decades and decades of growth driven by global debt schemes that essentially allow the biggest financial institutions to exploit labor and resources is essentially running out of steam. Marketing that drives buyers into a frenzy, fuels health and society destroying habits all in the pursuit of "economic growth" and "more choice." The "economy" had become the modern day deity of our age. We fear it, sacrifice to it and literally pray to it for favors. We are slowly seeing the rebirth of common sense and it's painful. We are entering the era of learning that debt driven benefits, politics and vote buying commitments creates a whole lot of collateral damage. I am hopeful that ground up organizing and power is making a comeback.

    July 28, 2011 at 6:29 pm |
  205. rick

    Shameful! We are a laughing stock to the rest of the world, and why would we think any other nation or country would want a democratic government such as ours, when our high paid, highly benefitted politicians can't even make an agreement on how to get the debt ceiling raised and spending cuts made. I'm convinced we need to fire them all! Shame on them and on us for allowing this to happen. I'm embarrassed by my own government!

    July 28, 2011 at 6:29 pm |
  206. Tricia

    You are indeed right Jack, this is a pathetic time in our countries history. The average American gets to watch and stand by helplessly while we are held hostage by a group of right wing radicals. I am so frustrated right now with this charade I could scream! You work hard your whole life to save in your 401 to see it in all probability wiped out by these uncaring idiots. They say they care about the average American? What a joke!!

    July 28, 2011 at 6:29 pm |
  207. Tony Brooks

    Jack, the economy is in it's worse shape since the great depression and predatory capitalism is the reason why. The anxiety for quarterly earnings has caused company's to seek the cheapest labor cost wherever they can find them: India, China, Mexico, etc. Combine the chase for earnings with the greed of corporate CEO's and it is not surprising Americans find themselves in the situation they are in right now.

    July 28, 2011 at 6:29 pm |
  208. Deborah Alfano

    The economy has been on a down hill spiral for the last two years and in the last two months even further. There is no confidence in the President and his ability to lead or even manage our country. We need to cut spending instead of assuming big government programs like the health care project that is drowning the economy and even more so the American hope. Obama is doing the same old trick, talk , talk, talk. He has no plan and he says he will veto the plans that have been developed. I do not make $250,000. or more but even I know that attacking those who actually pay 70 percent of our Federal taxes is not a leadership policy. The American people expect more from our President and we want him to step up and sign the House plan.

    July 28, 2011 at 6:29 pm |
  209. Shelby Francis

    The state of the economy is in the same shape at the state of our elected officials: In shambles. How dare these rich pompous fools play politics and re-election votes with the very people who put them in office when our country depends on their decision making. This will cost the Republican party and the American people. And the first jobs to go will be the party.

    July 28, 2011 at 6:29 pm |
  210. Mickey D

    Jack, everythings going to be alright; chill out. You look like you're going to have a stroke.

    July 28, 2011 at 6:29 pm |
  211. Becca

    I am beyond disgusted. My mother is a WIDOW of a Honored and HIGHLY decorated Marine. She lives on her Veterans and Social Security Benefits. This government including the President, need to take BIG cuts in their pay and benefits and eliminate the Pork spending and STOP giving OUR $$$$ to other countries that don't give a Crap about Americans and let them sink or swim on their own. Bring our $$$ and Military Home.

    July 28, 2011 at 6:29 pm |
  212. Don Gordon, in Santa Fe

    scuttle our safety net, will support their own but NOT the country as a whole.

    The Tea Party will finish us, not save us.

    Don Gordon
    in Santa Fe

    July 28, 2011 at 6:30 pm |
  213. Al R.

    Jack
    I have always said that some day the normal working class people will rise up and take back this country. It's starting to seem like that day is closer than I ever really imagined. With our president hiding behind congress, congress fighting with each other, our economy in the toilet, and default imminent I can't imagine how "we the people" are going to stand for this embarrassment any longer. On another note GE going to China. This is our chance to show how strong the American consumer can be! Boycott everything GE and its subsidiaries. No GE products purchased in America would justify GE paying no taxes. Do that and less see how long their China relocation lasts. Its time to elect common people to run our country. Common folks live within their means!!!!

    July 28, 2011 at 6:30 pm |
  214. Will

    For the wealthy not superb anymore, just a small step downward. For the other 90% of the working class borderline hell on earth, the most nail biting fear there is on the planet.

    July 28, 2011 at 6:30 pm |
  215. Michelle

    The Republicans have a private agenda that doesn't include the American people or the country as a whole. The country is collapsing bit by bit. We have huge debt and no engine to dig us out. American jobs have not been protected by the government, especially the Congress. Shouldn't there be built-in protections so that companies couldn't send large numbers of jobs outside the country without a taxation or surcharge? Is there any other country in the world going through our dilemma on the same scale? I don't think so. Foreign products flow into our country without limit and often at low cost and undercut anything American companies produce. There are no protections in place.

    July 28, 2011 at 6:30 pm |
  216. donald

    i see ads in papers and posted in the malls and grocery store bulleton boards daily of everyday people wanting to sell everything from extra clothing and houshold goods and jewelry and furnature and anything else they can get money for to pay bills and buy grocerys. I see more and more people planting veggies and berrs ect in the yards instead of lawns and flower beds. i even have kids coming around wanting to do chores for money.

    July 28, 2011 at 6:30 pm |
  217. johan van Roekel

    The U.S. is fortunate to have this debt ceiling problem, without this wake-up call on the level of the national debt is a blessing in disguise. The debt ceiling is a artificial problem which can be solved with by a law.
    The lawmakers who are now seriously discussing spending cuts and revenue increases can do so knowing that if they reach a deal they are at least for now out of the woods. Here in Europe the problems with Greece show us how hard it is to solve a debt crisis when markets have already lost faith. The U.S. is now getting a rare warning, if lawmakers pick up on it then bigger problems can be prevented.

    Johan van Roekel
    Harderwijk, Netherlands.

    July 28, 2011 at 6:30 pm |
  218. ANA

    This lawmakers are playing with our economy and money.
    The republican party has decided that it is better to destroy
    the President, no matter the cost to our country.
    My sugestion will be to stop their paychecks until they vote
    on a compromise bill with cuts and new revenue incresing
    taxes on the top 1%.
    If we can cut everything else maybe we can do with only half
    of all congressman and senators, that would save a lot of money.
    Ana

    July 28, 2011 at 6:30 pm |
  219. Brie

    Jack, lets face it, the Republicans are running amock and I don't see any change in the future. The American people are the ultimate losers in this political game of the idiots we have elected.

    July 28, 2011 at 6:30 pm |
  220. CB, Baltimore,MD

    half of it, is in the tank, and the rest of it is in the hands on congress

    July 28, 2011 at 6:30 pm |
  221. Burl Minnis

    The economy is fine, as long as we do not raise the debt ceiling. We just need to fine where the sustainble bottom line is. And letting the debt max out will show us that.

    To think that any such act would cause any harm at all is ridiculous. Pay us (the public) what we are entitled to (education, health care, social security, etc.) as citizen of this country, and pay us to the fullest, and if any money is left, then pay for all the other pork-barrel things. At this point, we as a nation are at a very crucial point in our evolution; we have a rare and precious opportunity to get out from under the oppression of rampant consumerism.

    As the President said; the party is over. Now, we must be responsible adults and live within our means. The best way to discover where those means are is to leave our debt ceiling alone. It will show us that which is sustainable, going forward. And, Uncle Sam will just need to live within the means of the revenue providers – we the people – and if additional revenue is required, then EINs (corporations) can pay the rest.

    The Stock Market is merely a board game for adults. If it fails today, everything would go on without impact tomorrow. People can still invest in corporations directly, if they want (there is no crisis). If our triple-A rating is lost, it is merely a psychological difference. We would be forced to look at our own internal finances and costs, (there is no crisis). Americans are adults, and we know that the party is over. This is not a crisis, as the media might purport – they just need to sell airtime – this is merely the result of unsustainability. And the notion that raising the debt ceiling is a "Crisis" is absurde.

    July 28, 2011 at 6:30 pm |
  222. Mark

    If the US defaults, then do the politicians receive their pay checks, while seniors, military, and many other government workers do not? If this is the case, it's a travesty!

    Now I know the reason will be something like, "The reason the politicians are not impacted by the US going into default because you wouldn't want the pressure of them not be paid influencing how they are voting on bills or running the country." Which I think is bull!

    They're not voting now nor running the country for the best of their constituents.

    July 28, 2011 at 6:30 pm |
  223. Joshua

    United States economy has declined due to little revenue in reference to borrowing money from abroad or inwardly. Therefore interest rates on loans has increased throughout the years because America as a country has underestimated this very moment in pervious presidential elections. Our economy will be redeemed only through "compromise and "fairness."

    July 28, 2011 at 6:30 pm |
  224. Chuck

    These idiots are all playing Russian roulette with all the chambers loaded. From the bleeding liberals to the tea party idiots, they all belong at the bottom of Boston harbor. They all need to go, they are all interested in nothing but there ideologies and nothing more. We the people do not count.

    Chuck, Ohio

    July 28, 2011 at 6:30 pm |
  225. Diane

    Hi Jack,

    I am in the gold jewellery business.With the price of gold my customers cannot sell my Wedding Bands.In other words,business is terrible.What I don't understand is how come Americans are not demonstrating in front of the Congress,White House,and every State Capitol.

    Diane

    July 28, 2011 at 6:30 pm |
  226. Nika Davis

    The state of the economy is great! However, the state of mind of the Republicans is horrible. They manufactored this crisis by attaching the debt ceiling to deficit reduction, now we all suffer as we lose our 401K in the stock market. Thanks to the Tea Party, we don't have to pay new taxes, but it won't matter because the crash of the stock market won't leave us any money to pay even the present tax rate.

    Nika,
    Waco Texas

    July 28, 2011 at 6:30 pm |
  227. Kathy

    I am a European living in America and totally amazed at the way Republicans are acting like the old Gods playing with the human race and the future of the worlds economy as if they were playing a computer game.

    So the rich are getting richer and if the Republicans get their way, a few years down the line America will be no better than a 3rd world nation, with 2 classes the rich and the starving.

    July 28, 2011 at 6:31 pm |
  228. Dan M

    The economy is in great shape..Home prices are getting close to realistic levels again, the Stock Market is up nearly 100% in 2 years . Jobs are available for anyone that actually wants to work...

    "Job openings, a measure of labor demand, climbed 178,000 to a seasonally adjusted 3.04 million'(July 2011)

    Unemployment rate is meaningless when the Gov insist on extending unemployment benefits over and over and over..
    St Cloud Mn

    July 28, 2011 at 6:31 pm |
  229. AP Massachusetts

    The data on the economy that came out today is actually not bad, but it's about to tank due to the idiocy of ignoring what will happen to the economy if congress won't agree on a balanced way of fixing the deficit (balanced = cuts and revenue, not a constitutional amendment that will take years to pass if ever). I wish they would stop playing politics with our lives and savings.

    July 28, 2011 at 6:31 pm |
  230. Eileen Brady

    Congress and large businesses are killing the goose that laqid the golden egg. Why should any Americvan citizen pay taxes when GE did not pay anything on 5 billion in the U.S. alone. Republicans argue that this tax relief creates jobs – it certainly does in China where they are creating a 2 billion construction project for their relocated division. We should all be learning Chinese!

    July 28, 2011 at 6:31 pm |
  231. Luke LeBoeuf

    Our economy sucks. With Republicans dipping their hands into Social Security, Medicare, and Medicaid & other agencies. We the citizens have to suffer. With Obama taking 500 Billion Dollars from Medicare, I am having to worry how I am gonna buy my medication on a monthly basis.

    Our Senators, Governors and Representatives need to take a cut in pay. At least 1/2 (Half) and throw that money into the deficit. The Americans Citizens would not have to worry about their health and where their next meal is going come from.

    If I lose my Social Security Disability, including my mother. We are changing our address to 1600 Pennsylvania Avenue, Washington D.C. / The White House...!!!

    Luke
    Huntsville, Ar.

    July 28, 2011 at 6:31 pm |
  232. Curtis Slaughter

    This is the most asinine turn of events. As an American, I have never been treated so shabbily in my entire life. We voted for these politicians in hopes and trust that they would represent us in the best possible way. Instead we are sacrificed first. How would they like being faced with foreclosure, no medication, etc.? Perhaps we as a nation should vote to repeal their incomes, benefits and impose upon them the mandatory retirement age which we are forced to adhere. I'll bet you the farm that this whole debt nonsense and mayhem would be resolved before you could utter the ridiculous term "Tea-party".

    July 28, 2011 at 6:31 pm |
  233. Craig Crawford

    You want to know my opinion of the American economy, Jack? How much is it worth to you?

    July 28, 2011 at 6:31 pm |
  234. Rick

    Look this is typical governing of our country, this is just more in the spot light every day we find out more and more of our appointed officials are doing some thing thats crooked and unconstitutional . if they actually let this happen and i am not sure we wont loose our rating anyway because of the way it's been handled we look like teenagers silly kid's to the rest of the world right now it will send us so far backwards what ground we may have gained and tha'ts very little in the last year will be nothing compared to where we will be if all the cost go up across the board unemployment will sky rocket ,

    July 28, 2011 at 6:31 pm |
  235. Steve

    We've been eating on the dollar menue. I guess the good side is we're losing weight.

    July 28, 2011 at 6:31 pm |
  236. Ondina DeVoe

    Just as Family farms were turned into corporate farms, the current "show" on Capitol Hill will destroy the middle class and bring feudalism to our country. Tea Party puppets either don't know what they are doing, or are deluded to think that THEY will be part of the "Great Two Percent?. Supreme Court has already given corporate entities the same status as individual citizens. We are on a slippery slope and Republican Rain is falling.

    July 28, 2011 at 6:31 pm |
  237. Laura, Secaucus, NJ

    Jack, Please show me all of these jobs that these billionaires have contributed in the past 10 years? If those taxes are so important to job creation WHERE ARE THESE JOBS? Under President Clinton the taxes were raised on the wealthiest Americans and we ended up with a surplus. Jobs did not suffer and the economy rebounded from years of Republican policies of Bush I and Reagan. Now we are faced with worse circumstances. We love our country enough not to see it go down. Raise those taxes and save our country.

    July 28, 2011 at 6:31 pm |
  238. John Gallup

    The US economy has been failing ever since we started two wars, it will only get worse with the pathetic efforts of our elected officials. A solution.

    1- Raise the income limit for contributions to Social Security to 100% of everybodies income.

    2- Get out of the wars we started.

    3- Eliminate the Bush tax cuts – ALL Bush tax cuts. The so called job creators will still create jobs even if their personal tax burden increases.

    4- We the people elected these idiots we should have to shoulder the blame for their failure to govern intelligently.

    5- Raise the Debt Ceiling NOW!! No need to tie it to any spending cuts, do that seperately. Gadfrey, its not that difficult.

    July 28, 2011 at 6:31 pm |
  239. Robin Gauthier

    The economy is very fagile, and could be torn apart by the showboating of both groups. How about this option, call all the bank and financial leader together and demand that they give back the 900 billion that they were given when they needed it!! Your country is in trouble and they need to step up and pitch in. Even if only a fraction is returned, it could keep the Government in business and relieve the current pressure. This situation is critical to all of us who do not live in the U.S. The U.S. economy is so important to all of us around the world.

    July 28, 2011 at 6:31 pm |
  240. deborah ballweg

    Our economy is not in A1 conditions but, if we don't take control of it now, just wait to see what it will be like later. We will be Greece. This is a golden opportunity to get our fiscal house in order and it may be our last.

    July 28, 2011 at 6:31 pm |
  241. Hd

    Screw it jack, I'm moving to china. The leaders over there may be many bad things, but at least they have the intelligence not to shoot themselves in the foot.

    July 28, 2011 at 6:31 pm |
  242. Margot

    The economy was starting to come back until the politicians in the Congress started flapping their mouths and making their threats. This is a deliberate move to cause havoc in the economy for political gain. I hope people are paying attention, because this is the most disgusting grab for power I have ever seen.......It is truly making me ashamed of the people running this country. Placing our seniors and military personnel in harm's way over "principle" (and I use the term loosely) is cold, brutal and not the work of Patriots. The face of America you are showing to the world is nothing to be proud of. Shame on all of you!!!!! Gig Harbor, Washington

    July 28, 2011 at 6:31 pm |
  243. Chynna

    As a Canadian in Canada viewing the situation from the outside, I'm shaking my head at both the economy and the outright sideshow that's going on in Washington. As much as I want the deficit to be reduced in time, I also don't want to see vital programs like Medicare reduced to shreds. Getting rid of the programs that simply don't work and not outsourcing vital jobs to countries with cheap labor (notice I'm not spelling "labor" with a "u") is a good notion to start on. As someone quickly approaching her eighteenth birthday and preparing to go out into the world, I know our economy's steadfastly tied to yours. I may not know the American system of government as well as an American, but I'm just as sick of the craziness that's gripping Washington.

    July 28, 2011 at 6:31 pm |
  244. John In Bellevue, NE

    Come on people! Are you serious with this question? The state of the U.S. Economy is......it's IN THE TOILET and HAS BEEN for a long time!
    We USED to be a nation that built things! Those days are LONG gone and no one seems to care! The parking lot, in the local Wal-Marts are packed! When is the last time you found anything sold in a Wal-Mart, that's made in America? Yet America keeps buying the junk!
    And do you think our ELECTED Leaders care about the state of the American Economy? If you do, I have some nice swamp land, here in Nebraska I'd like to talk to you about.

    July 28, 2011 at 6:31 pm |
  245. Donald in New Mexico

    The rich(I mean "JOB CREATORS") are getting richer,and the poor are getting poorer. The economy is bad because the job creators aren't doing their job, creating jobs. JOBS,JOBS,JOBS. Our economy needs jobs. I'm sure those patriotic job creators are going to start hiring soon. Do you want to buy a bridge in Brooklyn Jack?

    July 28, 2011 at 6:32 pm |
  246. Lisa schaefer

    I am very concerned about the U.S. economy. Every business owner I have spoken to says they will not be hiring. Between HCR and it's costs to the uncertainty regarding taxes and regulation no one can plan. Then add in the debt limit fight and the uncertainty regarding interest rates and you have a recipe for disaster.

    July 28, 2011 at 6:32 pm |
  247. Dr. Carlos M Alcocer Bunker, Wesley Chapel, FL

    The middle and working class are loosing, as is our country as a whole! The only one who will benefit from this demise are the rich, multinational corporations and special interest groups. It is an embarrassment to our countries reputation from what seems immature children to busy and blind to see the whole and the impact to our nation.

    July 28, 2011 at 6:32 pm |
  248. Jim

    This is scary! I never thought in my lifetime I would see such a CF in the capital of the country that I love. Put the egos aside boys and girls and grow up. Walking out of a meeting in front of the boss would have gotten you fired! GROW UP and work together. TEAM...Together Everyone Achieves More!
    What a great example for our children...and you wonder why....

    July 28, 2011 at 6:32 pm |
  249. coco

    I am really sick of this whole thing. I wish and pray that something will happen. I can't believe that we are in danger of losing everything. I blame all the congressman and I wonder they should get paid until something is done. I propose that unless we have something none of them should get paid until a deal is done. When wall street and banks have sent letters saying what is going to happen. I just hope they can pay their bills.

    July 28, 2011 at 6:32 pm |
  250. Linda from Sheboygan

    The Economy is holding its breath. I am worried sick about our deteriorating lifestyle, and furious with Congress for toying with us. Why don't they attach an amendment cutting their benefits package if they can't agree on a bill which puts equal parts of pain on the wealthy and middle class. Could it be that they don't identify with the middle class because most of them are wealthy??

    July 28, 2011 at 6:32 pm |
  251. Mark

    Jack
    It's bad and getting ready to get a lot worse. Once again the middle class and poor are bearing the brunt of political incompetency. The rich will once again come through this better then ever with their piles of money and hording they have done since their last big payout during the stimulus. Lets keep the facts straight the middle class and poor have lost their jobs, homes, and now benefits. They rich should be worried there is nothing left to exploit from the middle class and poor. We are done.

    July 28, 2011 at 6:32 pm |
  252. Cindy Bollinger

    No one, especially not the American people as Congress continues to play their political gamesmanship.

    July 28, 2011 at 6:32 pm |
  253. Angela, Charlotte, NC

    What do they call that slide in the Winter Olympics, where they take off down the ramp and then launch themselves into space hoping for a sound landing on two feet, and not a wipe out?
    The Tea Party amateurs in the Republican party, who may or may not be the Trojan Horse of anarchists put in place to bring this country to its knees must be laughing.
    Disaster looms, be prepared!

    July 28, 2011 at 6:32 pm |
  254. Bob Q

    The way Congress is addressing this whole discussion on the debt ceiling is scary. But when you really think about it, our Congressmen live in La La land. They have gaurenteed pensions and great health care and get annual pay raises. They are so disconnected to the real world that they don't know what reality is anymore.

    July 28, 2011 at 6:32 pm |
  255. Robert

    THE BEGINNING OF THE END OF AMERICA'S GREATNESS. That's what the history books will teach generations to come. Never have I witnessed such gross incompetence in our political leaders. I don't think it matters anymore whether they agree to raise the debt ceiling or not. The ripple effects of the three ring circus we have been watching for weeks now will be felt for generations to come. Isn't it odd too that while our leaders talk about reducing funding for the programs that millions of people need to survive, their entitlements in the way of medical coverage and retirement benefits for serving in congress are untouched, and UNDESERVED.

    July 28, 2011 at 6:32 pm |
  256. Linda Payne

    As long as the corporations continue to take our money and produce no new jobs, I don't see us having an economy to worry about. The "people" may need to take to the streets and throw the bums out just like they do in every other country with a useless government.

    July 28, 2011 at 6:32 pm |
  257. Kevin

    What do you think Jack?

    We are in serious troubles and all the politican in Washington does NOT seem to have clues about the risk of having defult for the first time in the history.

    It is so ridiculas to see all these politicians gambling with our live.

    Our current state of the U.S economy is getting closer to the breaking point. When was the last time, any politicans discussed about how to improve unemployment, how to recover housing, how to create jobs, how to fix immigration, and I can go on ......

    I say, lets fired everyone @ the Congress and that will create some jobs opening at the Washington..

    July 28, 2011 at 6:32 pm |
  258. Josie - Naperville IL

    There are only two words for this economy.....It Sucks! I guess once they come to an agreement on the debt ceiling they will set everything aside and vote themselves a raise. In the meantime we remain unemployed, underemployed, paying high gas and grocery prices, high mortages, high rent. Those in Washington DC are not just putting this countries debt in default, it is doing the same to its people.

    July 28, 2011 at 6:32 pm |
  259. Dwayne

    The economy is just starting to turn around despite the incompetent boobs in Washington. Lets stop calling ourselves Republicans or Democrats and lets just call ourselves Americans. Then maybe we can get something done instead of just disagreeing with whatever the other party suggests. Without those political titles they won't know who to disagree with and may have to actually think for themselves.

    July 28, 2011 at 6:32 pm |
  260. shawn

    Dismal with no end in sight. Tea Party? Most of them don't seem to know the history regarding the Tea Party. No taxation without representation. We have representation but what terrible representation it is. We really all know what this is about. They are not so concerned about the debt celing its about the person who is President.

    July 28, 2011 at 6:32 pm |
  261. PhyllisMorro (confidential please)

    State of the economy...it stinks!! If I were Obama I would :

    1. Immediately start closing bases overseas and calling back our military, this will save much money.

    2. If the politicians want to start cutting Social Security and Medicare they need to start with their own benefits.

    3. Since they are not doing their jobs but are acting like a bunch of a-–es, they need to stop being paid with my tax dollars.

    As soon as this mess is over, Obama needs to develop a backbone and insist on the Clinton years tax raises. Phyllis

    July 28, 2011 at 6:32 pm |
  262. Kyle

    Our economy is at the graveyard. Congress and President Obama are digging its hole.

    July 28, 2011 at 6:32 pm |
  263. P T Martin

    Forget about the state of the economy...ask about the state of all the elected officials in washington, DC?
    They're all a National embarassment!
    It's time they learned to compromise! It's time they seriously considered how their negligence is affecting all Americans. The solutions have to start somewhere. If you are an elected official, let it start with YOU!

    July 28, 2011 at 6:33 pm |
  264. Donna Bedingfield

    ENOUGH IS ENOUGH! Everyone is so disgusted with the constant doom and gloom coming out of Washington. I think the President should just say "Enough!" and exercise the 14th Amendment NOW so that all the "speculators" would just quit. Republicans and the Tea Party have not worked with President Obama for the past two years, what makes anyone think they are going to start now? They all remind me of high school bullies. I'm tired of it and so is the American public. George Bush hid all the expenses from the wars HE started from the budget. Just because President Obama openly included them in the budget – HE was not the blame. Stop the bullies!

    July 28, 2011 at 6:33 pm |
  265. Cry me a river

    You know we are all as a country guilty of what is going on......... take a look around yourself and ask this one question "WHATS AMERICAN?" I come from a small town that lost its two biggest buisenesses to free trade. We can all scratch our head and look for an answer on how to fix our country, but at the same time we spend all the money in our pocket on things that are made in another country. I say rip up the free trade bill then tax anything and everything that is shiped in, force our country as a whole to open a new buiseness, to make things on our own, to go back to a way where we are worried about number one "our country" I am as guilty as the next person on this but IF we all force ourself to look at that label and see is it made in the U.S. in time we can pull out of anything. How much in the last year has been sent to other countries for the things we all feel we NEED every single day?

    July 28, 2011 at 6:33 pm |
  266. John Hilderbrand

    On the verge of collapse and congress doesn't have a clue. While the Tea party's intention is admirable....they are fighting to save something in a puritanical way that may do much more harm than the amounts they were intending to reduce. About 8 yrs ago I was in Savanna GA and saw the magnitude of inbound freighters from China. I told my wife that I felt we may be beyond the point of return. Since then it has either stagnated or gone down hill. As technology has allowed reductions in staffing, business have shed employees....and with no significant new business and many (GE and Citrix) moving out....we find ourselves where we are – worse off.

    July 28, 2011 at 6:33 pm |