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Poll: Holidays Not So Jolly for Americans

Recession fears and foreign unrest fuel pessimism

By Lucas Laursen,  Newser Staff

Posted Nov 23, 2007 5:10 AM CST

(Newser) – Americans are in a glum mood this holiday season and pessimistic about 2008, according to a survey conducted by Reuters and polling firm Zogby. Economic concerns ranging from the fallout from the subprime mortgage crisis to the skyrocketing price of oil have dampened Americans' confidence, with 40% believing a recession will take hold within a year.

Foreign unrest hasn't helped the mood. Lingering uncertainty about Iran, Pakistan and Iraq have all led Americans to say they feel less safe and that the country is on the wrong track. As for their confidence in President Bush, Americans gave him a slightly improved score: a 28% approval rating, up four points. It's still a dismal score, but better than that of Congress, which garnered a pitiful 11% approval rating.

A sign advertises property on the market in the Eagle Rock section of Los Angeles Tuesday, Sept. 11, 2007. Continuing weakness in the housing sector will bring the national economy to the brink of a recession in the coming months, according to the quarterly Anderson Forecast to be released Wednesday...
A sign advertises property on the market in the Eagle Rock section of Los Angeles Tuesday, Sept. 11, 2007. Continuing weakness in the housing sector will bring the national economy to the brink of a recession...   (Associated Press)
President Bush talks on the phone in the Oval Office of the White House, Tuesday, Nov. 20, 2007, in Washington. (AP Photo/Pablo Martinez Monsivais)
President Bush talks on the phone in the Oval Office of the White House, Tuesday, Nov. 20, 2007, in Washington. (AP Photo/Pablo Martinez Monsivais)   (Associated Press)
Greg Miller fills his Toyota Prius with gasoline at a BJ's Wholesale Club in Colonie, N.Y., Wednesday, Nov. 21, 2007.  A revised report due out Wednesday on November consumer sentiment is expected to show higher gas prices and a worsening housing recession caused spending moods to sharply decline from...
Greg Miller fills his Toyota Prius with gasoline at a BJ's Wholesale Club in Colonie, N.Y., Wednesday, Nov. 21, 2007. A revised report due out Wednesday on November consumer sentiment is expected to...   (Associated Press)
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