Uncertainty plagues Americans
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A slew of new polls touch on an issue Bankrupting America has been highlighting for the last 18 months: uncertainty. In this case, it’s the economy Americans are uncertain about.
According to a poll by Rasmussen, only 31% of adults say the economy will be stronger in one year – the lowest number since January 2009. A plurality (43%) expect the economy to be weaker in 12 months, while 15% say it will stay the same. According to Quinnipiac, an amazing 79% of registered voters believe the U.S. economy is currently in recession. (It is not, and has not been for two years.)
But most remarkable is a poll, released Wednesday by CNN, in which 48% of adults said they think another Great Depression is likely to occur within the next 12 months. While more (51%) don’t think another Great Depression is likely in the next year, the fact that almost half of Americans think U.S. economic conditions are so bad it could slide into another Great Depression (when unemployment topped 25 percent), is astonishing.
We think the same uncertainty that is causing businesses to hold back investment is causing this pessimism. Right now federal lawmakers can’t decide how to handle increasing the U.S. statutory debt limit; they can’t pass a budget; and they show few signs of truly easing up on their overspending. Americans simply don’t know what’s going to happen next, but they’re growing more certain it won’t be good. And the numbers above reflect that.