As President Obama travels after his State of the Union speech to rally support for his proposals, he must also deal with a rising mood of pessimism about the economy. Fear of the future must not be allowed to feed on itself.
Friday's jobs report shows that the government is heading in exactly the wrong direction by raising taxes on the middle class and cutting spending, Reich writes.
Consumers are deeply worried about their jobs and their incomes, Reich writes, and they have every right to be.
Consumer sentiment declined from the prior month with a reading of 71.3, the lowest consumer sentiment level seen since December 2011, according to data from the Reuters/University of Michigan Survey of Consumers.