The IBD/TIPP numbers were lower than the lowest estimate of economists and Gallop sentiment numbers earlier today showed the same trend. Does it translate into real changes in spending? I don’t think it does.
The public is upset but I don’t get the sense people are worried about their jobs, their income or the US actually defaulting. When they get a survey like this, they have a chance to vent.
What is real, is the steady erosion of the public’s trust in its leaders. When that disappears, public structures begin to break down in ugly, unpredictable ways.