Economic Confidence Falls as Sequester Becomes Reality

Gallup’s Economic Confidence Index fell to -22 last week from -13 the week prior, with most of the decline occurring after Congress and the president ultimately failed to avert the $85 billion in budget cuts mandated as part of the sequestration legislation. The weekly average of -22 is the lowest such average since the -22 reading for the week ending Dec. 30, amid the fiscal cliff debate. [cont.]