A Pivot Point in American Opinion: The Debt Ceiling Negotiation and its Consequences
The Iranian hostage crisis, Iraq’s invasion of Kuwait, 9/11, Hurricane Katrina, Lehman Brother’s collapse and the recessions that defined the 1980, 1992 and the 2008 presidential campaigns … these are the signal events that changed and then defined the last 30 years of American politics.
They are joined now by another signal event: The debt ceiling negotiation and its consequences.
Consumer confidence has dropped 15.8 points in two months and is now at its fourth lowest level since the survey began in 1952.
BOTTOM LINE:
As August comes to a close, the debt ceiling negotiation and its aftermath can now be put into an emerging context.