Confidence in the Economy Surges after Fiscal Cliff Deal

Here’s a somewhat surprising development in how Americans see the U.S. economy and their own futures. According to this Gallup survey, confidence in the economy has soared in the new year after policy makers kicked the can down the road a few months by agreeing on a fiscal cliff deal.

The current -13 reading is just shy of the recovery high seen back in October/November of last year, though, given the intractable nature of the nation’s debt troubles and how far apart policy makers are in Washington, I wouldn’t be surprised to see this latest surge prove to be short-lived.

Why can’t we just forever delay reckoning with the debt?

That would surely boost consumer confidence on a more permanent basis and lead to a stronger recovery.