Economist: 'Americans have lost a lot of confidence and replaced it with fear'

James Pethokoukis of the American Enterprise Institute on the
continuing economic malaise following six years of disastrous policies
under Barack Obama:

Americans have lost a lot of confidence and replaced it with fear and
concern that if something goes wrong things will get even worse. People
no longer have that feeling that if they fall down they can pick
themselves back up. And I think that’s expressed in
the expectation variables. The economy needs to put in stronger numbers
for people to feel that they are on more solid ground. And it's fair to
say that the politician simply don't get it and don't accept the blame
for their contribution to this difficult situation. I was not
very optimistic about what the Michigan index would do this week. But
the survey managed to come in bellow my expectations. It's a very
depressing report.

Economist: 'Americans have lost a lot of confidence and replaced it with fear'