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
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)
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(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.