Ingraham's "D-plus" for Obama undermined by last year's rise in consumer confidence
Research ››› ››› JEREMY HOLDEN
On Fox & Friends, Laura Ingraham gave President Obama "a D-plus" on the economy and asserted that "consumer optimism" is "obviously down." But Ingraham's claim about "consumer optimism" ignores the fact that consumer confidence in December 2009 was 52.9, up from 38.0 in December 2008, an increase of 39 percent.
Ingraham's grade partly based on "consumer optimism"
From the January 19 edition of Fox News' Fox & Friends:
BRIAN KILMEADE (co-host): It was a year ago, President Bush left, and President Obama said OK, the ball is mine. Let's take a look right now, in his first year, according to Laura Ingraham. Grade the president of the United States one year in.
INGRAHAM: Well, let's first start with the economy. We know where unemployment is, and there is no sign over the next several months that the economy, as far as jobs, is really going to pick up to any great extent. That, in and of itself, is a terrible blow to the Obama administration and their plans to continue to grow government. So on the economy front, I would give them a, you know, D-plus perhaps, just to be charitable. And you move on from that -- consumer optimism, obviously down.
Consumer confidence in December 2009 was up from December 2008, not "obviously down"
December 2009 Consumer Confidence Index was 52.9. In December 2009, the Conference Board stated that the Consumer Confidence Index "now stands at 52.9 (1985=100), up from 50.6 in November. The Expectations Index increased to 75.6 from 70.3 in November." Lynn Franco, director of the Conference Board Consumer Research Center stated, "Consumer Confidence posted yet another moderate gain in December as expectations for the short-term future increased to the highest level in two years."
December 2008 Consumer Confidence Index was 38.0. In December 2008, the Conference Board stated that the Consumer Confidence Index "now stands at 38.0 (1985=100), down from 44.7 in November. The Present Situation Index plummeted to 29.4 from 42.3 last month. The Expectations Index decreased to 43.8 from 46.2 in November."