Tuesday, March 13, 2012

Obama FAILS in the age old Question and Bernanke Watches it Burn

Are you better off today than you were four years ago?

The answer? 80% say no. From a CBS News Poll found over at national review:
In today’s CBS News poll:

Compared to four years ago, is your family’s financial situation better today, worse today, or about the same?

The survey finds 20 percent say better today, 37 percent say worse today, and 43 percent say “about the same.”

But, according to Ben Bernanke, all is well:
The Federal Reserve sounds a bit more upbeat about the job market and the global economy, but still the central bank is erring on the side of caution.

Following a meeting on Tuesday, the Fed's key policymaking committee voted to make no changes to its ongoing stimulus programs.

The central bank still plans to keep the federal funds rate at record lows "at least through late 2014." The Fed has held interest rates near zero since December 2008, hoping cheaper access to credit would spur economic growth.

Meanwhile, the program known as Operation Twist remains in place, shifting $400 billion from short-term to long-term bonds. The hope is that this program will bring down long-term interest rates on everything from car loans to mortgages.

With all these stimulus measures playing out, the Fed is still counting on sluggish economic growth this year.

What a mess. Are we ever screwed....