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.
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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?
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 Wall Street is manipulated, Congress is bought and paid for, government no longer represents the people, insurance companies and banks own the world, big business is greed infested and people are apathetic.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.
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?