59% Pessimistic About US Economy

With unemployment levels high and the US on the brink of default, is it any surprise that American pessimism has reached a 15-year high? A new CNN poll cited by Politico finds that 59% expect the economy to be in bad shape a year from now, the highest percentage since CNN started asking that question in 1997. Of those surveyed, 40% expect the economy to be in good shape a year from now, but only 4% of those believe it will be in "very" good shape.

The only other time such pessimism has reached the halfway mark or worse was in September 2005, when 50% said they feared poor economic conditions by the following year. And even some of those who are optimistic admit the economy isn't doing so well at the moment: 84% say the current economy is in poor condition, while 16% believe it's in good condition. Click for more poll results. (More US economy stories.)