The Dow Jones Industrial Average today closed up more than 330 points. But the big news after the bell was that both the Dow and the S&P 500 put together back-to-back winning days for the first time this month -- 19 trading days into the month.

The economy, in short, is in bad shape. The markets are officially undergoing a correction, when shares fall more than 10%, for the first time since 2003. Oil prices hovered just under $100 a barrel earlier in the week, closing nearer to $90 a barrel in today's trading. And new numbers out from the Washington Post and ABC News show consumer attitudes are at a two-year low.

The latest WaPo/ABC Consumer Comfort Index sits at -21, the lowest point since October 2005. Asked to rate the state of the economy, two-thirds choose negative, and about the same percentage say it's a bad time to make purchases. That's terrible news for businesses heading into what is supposed to be the most expensive Christmas season ever.

The Federal Reserve meets December 11, and speculation on Wall Street is that another rate cut is in the offing. That's good for short-term gains, but will presidential candidates or Congress address the economy? How can they? Voters always say they consider economic issues; a recent Post/ABC poll showed more voters said the economy was one of their top two most important issues than any aside from the war in Iraq.

As consumers grow more pessimistic seemingly by the day, increasing urgency could make it a bigger issue than normal this year.