For Immediate Release
September 27, 2005
Contact: Karen Finney - 202-863-8148
Bush Economy Scares Consumers
Washington, DC - It was reported today, with gas prices at historically high
levels, consumer confidence experienced its largest decline in 15 years.
"From falling wages and increasing health care costs, to sky-high gas prices
and climbing poverty rates, the Bush economy is failing America's working
families," said Democratic National Committee Communications Director Karen
Finney. "The only thing worse than this Bush economy, is the last Bush
economy."
Consumer Confidence Index: Biggest Drop in 15 Years. "Consumer confidence
suffered its biggest drop in 15 years ... The Conference Board said its
Consumer Confidence Index, compiled from a survey of U.S. households, dropped
18.9 points to 86.6 from a revised reading of 105.5 in August. That marked the
biggest slide since October 1990, when the index fell 23 points to 62.6 in the
wake of the recession. ... 'Today's numbers show that consumers are not very
optimistic about the economy. As a result, we will see consumer spending
reduced until we see some relief on energy prices. ... If we don't get some
relief, it looks like it will be a very weak holiday season,'" said the chief
economist at A.G. Edwards & Sons.
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