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Wednesday, July 24, 2024

Americans hold dim view of U.S. economy


Americans are more pessimistic about the U.S. economic outlook than they have been since the start of the Obama administration and most believe the United States is on the wrong track, according to a New York Times/CBS News poll released on Thursday.

The number of Americans who think the economy is getting worse jumped 13 percentage points in just one month, to 39 percent, the poll suggested.

Just 23 percent said they thought the economy was improving, down 3 percentage points from the previous month.

Seventy percent of respondents said the country was heading in the wrong direction and most think neither President Barack Obama nor Congressional Republicans share their priorities for the country, the poll showed.

The dour mood is dragging down performance ratings for President Barack Obama and both parties in Congress with the 2012 election season already underway, the poll found.

Fifty-seven percent of respondents said they disapprove of Obama’s handling of the economy, while 75 percent said they disapprove of the way Congress is handling its job.

While Washington is consumed with debate over deficit-reduction proposals, Americans seemed uncertain about the impact of cutting the deficit on the U.S. economy.

Some 29 percent of those polled said cutting the deficit would create more jobs, while 29 percent said deficit-cutting would cost jobs and 27 percent said it would have no effect on the employment outlook.

The poll found considerable support for Obama’s proposal to raise taxes on the wealthy — 72 percent of respondents approved of that idea as a way to address the deficit.

Obama’s job approval stood at 46 percent, while 45 percent did not approve of his performance in office.

More than half of poll respondents, 56 percent, said they did not have a favorable view of Republicans in Congress, as opposed to 37 percent who said they did.

The Democratic Party fared somewhat better, with a 49 percent approval rating versus 44 percent disapproval.

The telephone survey of 1,224 adults was conducted Friday through Wednesday and had a margin of sampling error of plus or minus three percentage points.

Copyright © 2011 Reuters

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2 thoughts on “Americans hold dim view of U.S. economy”

  1. Congress – not to mention the Executive – is full of dullards and cowards.

    Everything’s always about politics, not the status of our Union. Reality is to be “negotiated” in search of bipartisan solutions that distribute our wealth in only two political directions. Were the opposite the case, were they intent on robust economic health derived from the productivity of the people, we’d not find ourselves at this juncture.

    Many say that not only the US, but most of the world’s – monetary system will melt down before next year. Sounds about right, and that’s why so many of those politicians have already said that they won’t run for reelection in 2012. Don’t blame me!!! As if they could then re-emerge from hiding and pick up the pieces.

    The coming debacle will actually be a good thing… minds will be refocused on what it means to work, to strive, to live with eyes wide open.

  2. So here we are. The American People disapprove of both parties. Again. And yet we continue to allow these two parties to dominate the electoral process. In fact we demand it. Year after year of failure by both parties, and the best they can come up with as an argument to our fiscal problems is whether or not we should increase the tax burden on those pesky “rich” people hoarding all our money?

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