Consumers Losing Confidence in US Economy. Well, Duh -- Certainly Not a Bakken Story

Link here.

Consumer confidence fell to its lowest level since April 2009, when the economy was still in a recession. And there was no job growth in August.

But, not to worry. The president is ready to introduce proposal to raise $1.5 trillion in new taxes.  The actual proposal:

Drawing a bright line with congressional Republicans, President Barack Obama is proposing $1.5 trillion in new tax revenue as part of his long-term deficit reduction plan, according to senior administration officials.

The president on Monday will announce a proposal that includes the new taxes, nearly $250 billion in reductions in Medicare spending, $330 billion in cuts in other mandatory benefit programs, and savings of $1 trillion from the withdrawal of troops from Iraq and Afghanistan.

I was not aware that $1 trillion had already been earmarked for troops in Iraq and Afghanistan. This sounds like "I'm going to save $45,000 next year because I have decided not to buy a Chevy Volt."