Tuesday, October 04, 2005

Is It The Economy Again, Stupid?

The Associated Press is reporting that in mist of an SEC investigation into the Senate Majority Leader, a criminal indictment of the former House Majority Leader, the blatant example of Bush’s cronyism in the debacle in the drowning of New Orleans, the Governor of Ohio being found guilty of ethics charges, and the investigation into the leaking of a covert CIA agent soon coming to a head, that things could hardly be worse for the GOP. Except maybe it could be.

Economists are beginning to fear that a new recession is upon us, as consumer spending and confidence as started to take a tumble. New home sales and auto sales have slowed, further being crippled by high energy prices. Meanwhile inflation and interest rates are raising.

Mark Zandi, the chief economist for Economy.com said, “recession risks are rapidly rising.” And those risks could add a quadruple whammy on the GOP just in time for the 2006 Congressional elections.


Post a Comment

<< Home