GOP economics continue to drag down the economy.Consumer confidence fell from 89.3 in August to a dismal 71.1 in September. Let's hope this is the end of the GOP economic experiment.
President Bush, meanwhile, is continuing to get low marks for his economic stewardship. Just 37 percent approve of his handling of the economy in September, down from 41 percent in August, according to a separate AP-Ipsos poll. Only a third of the public is satisfied with the president's overall job performance, the poll found.
Individuals' feelings about the economy's prospects and their own financial fortunes plunged to 14.4 in September, compared with 43.9 in August. The new reading was the fourth weakest showing on record.
Credit problems in mortgage and other markets make it likely that the worst housing slump in 16 years will persist well into 2008. Foreclosures and late payments are spiking. Lenders have been forced out of business. The carnage -- especially in the ''subprime'' mortgage market involving borrowers with spotty credit histories -- has wreaked havoc on Wall Street.
