Americans are increasingly downbeat about the economy and deeply worried that their standard of living is at risk, according to a new USA TODAY/Gallup Poll that shows family finances battered by a rise in fuel prices, the loss of jobs and a housing bust.
In all, 42% of those surveyed from Wednesday to Saturday rate the nation’s economic conditions as poor, the most negative outlook since 1992 ? another presidential election year, and one defined by economic angst that contributed to a Democratic takeover of the White House.
As a record 22 states hold presidential primaries and caucuses today, almost half of Americans say the USA is in a recession or depression. That bleak outlook is likely to reverberate in favor of Democrats again in this November’s election, according to economists surveyed in a separate poll.
“It’s gone from two years ago you could heat your house for $200, $220 a month, and now it’s up to $500 or $600,” says Natale Umbro, 59, owner and executive chef at the Tuscan Sun restaurant in Easton, Mass., who was among those surveyed. That has strained his budget ? he is carrying about $12,000 in credit card debt ? and made him wonder about the nation’s leadership.
“That has strained his budget ? he is carrying about $12,000 in credit card debt ? and made him wonder about the nation’s leadership.”
Consumers cannot possibly be to blame for their own financial circumstances, can they?