Poll: Public Pessimism On Economy Is Increasing
In the new poll, few say they saw much improvement in the economy in the last month. Just 21 percent say things have gotten better, 17 percent say they've gotten worse and 60 percent thought the economy "stayed about the same." And the public is split on whether things will get better anytime soon, with 31 percent saying the national economy will improve in the next year, 33 percent saying it will hold steady and 33 percent saying it will get worse. Further, about 4 in 10 expect the nation's unemployment rate to climb in the next year.
And the public's outlook for its own financial future is at its worst point in three years. Just 26 percent think their household economic well-being will improve over the next year, 50 percent think it will stay the same and 22 percent expect it to worsen.
About 27 percent of those with incomes under $50,000 are the most likely to expect things for them personally to get worse in the next year compared with fewer than 2 in 10 among those with higher incomes.
Democrats, who typically rate the economy better under the present Democratic president than do Republicans, have become less optimistic about their financial prospects since January. Then, 41 percent of Democrats thought their finances would improve in the next year while only 30 percent feel that way now.Jeremy Hammond, 33, of Queensbury, N.Y., a Web programmer, says Congress should focus on "the incredible debt and lack of spending control." For instance, he said, it's absurd for Congress to try to force the Postal Service to continue Saturday mail delivery â¿¿ an effort that has so far failed â¿¿ when the agency says, "We can't afford it.' Hammond, who considers himself a political independent, said he voted for Obama in 2008 but not in 2012.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV