ANN ARBOR, MI (WKZO) -- Disaster may be about to strike on the East Coast, but University of Michigan researchers say American consumers are feeling better about their own personal finances than they have in five years. Their October survey was just released on Friday. The poll shows that consumers anticipate continued improvement in the national economy, declining unemployment rates during the year ahead. They also expected to see improvements in their personal finances.
Economist Richard Curtain, Director of the Thompson Reuters/U of M survey says all that could be squandered if Washington can’t come to terms on sequestration, and settle on budget cuts to keep the country from going off a “Fiscal Cliff” on January 2nd. That was the mechanism Congress adopted when the "Super Committee” failed to find cuts earlier this year.