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Angus Reid Global Monitor : Polls & Research
Fewer Americans Confident About Economy
(Angus Reid Global Monitor) - Many adults in the United States are concerned about the country’s current financial status, according to a poll by Opinion Research Corporation released by CNN. 59 per cent of respondents rate the economic conditions in the U.S. as poor, up 14 points since September.
Last year, defaults on so-called subprime mortgages—credit given to high-risk borrowers—have caused volatility in domestic and financial markets and raised concerns that the U.S. economy could fall into a recession.
On Jan. 18, U.S. president George W. Bush discussed the situation, saying, "Our economy is still creating jobs, though at a reduced pace. Consumer spending is still growing, but the housing market is declining. Business investment and exports are still rising, but the cost of imported oil has increased. (...) I’m optimistic about our economic future, because Americans have shown time and again that they are the most industrious, creative, and enterprising people in the world."
Yesterday, Arizona senator John McCain—who is seeking the Republican Party’s presidential nomination—outlined his desired course of action, saying, "We have to make the tax cuts permanent and stop the spending that jeopardizes our nation’s fiscal future. I believe the fundamentals of our economy are still strong but that does not mean we are not headed for more hard times."
Polling Data
How would you rate the economic conditions in the country today—as very good, somewhat good, somewhat poor, or very poor?
|
Jan. 2007 |
Dec. 2007 |
Sept. 2007 |
|
|
Very good |
4% |
6% |
9% |
|
Somewhat good |
36% |
40% |
45% |
|
Somewhat poor |
40% |
33% |
28% |
|
Very poor |
19% |
21% |
17% |
|
No opinion |
-- |
1% |
-- |
Source: Opinion Research Corporation / CNN
Methodology: Telephone interviews with 1,393 American adults, conducted from Jan. 14 to Jan. 17, 2008. Margin of error is 3 per cent.