Mitt Romney Already Helping U.S. Economy

Presidential hopeful Mitt Romney is already boosting the U.S. economy, albeit in a way that surely is unintended. His latest series of gaffes combined with the better received convention by the opposing party earlier in the month have led to surging consumer confidence amongst Democrats and this has been enough to improve the overall outlook of the country considerably as evidenced by the latest data from the Conference Board below where their gauge of the American mood jumped from 60.6 in August to 70.3 in September.

The weekly Gallup survey of economic confidence below shows how such a big improvement came to be. Over just the last four weeks, while the outlook of Republicans has held steady at -60 and independents saw a modest improvement, the economic confidence index for Democrats surged from 7 to 30.

Like the Conference Board survey and the Reuters/University of Michigan consumer sentiment index, the Gallup economic confidence index is now near its highest level of the year and this bodes well for such things as consumer spending and economic growth in the months ahead.

Now, if Republicans could just get on board with what looks like an increasingly inevitable four more years for President Obama, we might have the makings of a much stronger recovery.