CFO outlook on U.S. economy takes a nosedive

Source: Reuters

CHICAGO, Aug 8 (Reuters) - Optimism among chief financial officers over the outlook for the U.S. economy has dropped to a new low, thanks to rising oil costs, weak consumer spending and inflation, according to a quarterly survey released on Friday.

The CFO Optimism Index compiled by Financial Executives International and Baruch College of the City University of New York showed the latest quarterly reading on the economic outlook was 48.92, "plummeting even further" from the 54.29 recorded in the previous quarter, which was an all-time low for the survey.

The survey was conducted in the week of July 7, with 219 CFOs from public and private companies interviewed electronically.

Forty-eight percent of CFOs identified U.S. economic growth as their biggest worry in the second half of 2008. Thirty-five percent said the high cost of oil was one of their top concerns, followed by consumer spending (29 percent) and inflation (25 percent).

The CFO Optimism Index for their own companies' outlook all slipped to a new low of 67.06 from 68.12.

Read more: http://www.reuters.com/article/economicNews/idUSN0847118520080808

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then the cheerleading begins for McInsane over Obama - without the poll identifying the partisanship of those being polled - but you can guess if someone has made it to the CFO position of any major corporations, their party affiliation probably starts with an "r"

What we need:

1. Increase Taxes on the Rich.
2. Impeach Bush and Cheney.
3. Apologize to the World.
4. Cut Government Spending, on much military and CIA spending.
5. Start Competitive Bidding again for Gov. Contracts.
6. Take money away from the War Criminals through Fines, and place that money into our treasury.
7. Probably start talks to join Dollar with the Euro.
8. Regulate the Credit and Banking Markets more superiorly.
9. End the Tyranny of the Rich over the Poor.
10. End High Interests Rates.

This is a start of what we need to do to improve our economy.