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59% Pessimistic About US Economy

That's the highest level in nearly 15 years

By Evann Gastaldo,  Newser Staff

Posted Jul 25, 2011 3:13 PM CDT | Updated Jul 25, 2011 3:27 PM CDT

(Newser) – 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.

Job seekers wait in a line at a job fair in Southfield, Mich., Wednesday, June 15, 2011.
Job seekers wait in a line at a job fair in Southfield, Mich., Wednesday, June 15, 2011.   (AP Photo/Paul Sancya)
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COMMENTS
Showing 3 of 29 comments
Chitrix
Jul 26, 2011 8:06 AM CDT
With the obstructionist tactics of the Royal Right and the Middle of the Road out of touch President this country still circles the toilet faster and faster each day 1: Turn our Military from one of Offensive War to Defensive only 2: Cut all Aid to 3rd world countries until our country is back to work 3 And most important Tax the Rich equally as you do the dwindling Middle Class Crisis solved
Fascist_Jack
Jul 26, 2011 5:51 AM CDT
Was driving through New Jersey yesterday, and a friend of mine started pointing out all the abandon businesses and strip malls that were along a section of Route 22.  It was at this point that I remembered my trip to the Philippines and, how their commercial areas were bustling like bee hives....day or night.  In contrast, this section of America looked completely dead...like everyone was at home....waiting for a welfare or unemployment check (same thing.)  Getting electronically drugged up on their favorite TV show. America must model its business climate after those in Asia or fall behind.  There is not going to be ANY Liberal economic victory.  Such a thing is an impossibility, because good economics is rooted in "survival of the most fittest business & most fittest worker" and not in "compassion economics." I urge each and every one of you to take a trip to an Asian country, and see for yourself the difference.  You can go to the poorest country in Asia and you'll see the poorest guy still selling something on the side of the street, whereas in the US, the poorest people are rewarded with free food, shelter, health care and now....even free cell phones.  In fact, later on in the conversation, my friend said he knew women who were having babies JUST TO GET ON GOVERNMENT ASSISTANCE.
Deleted
Jul 25, 2011 7:33 PM CDT
" Of those surveyed, 40% expect the economy to be in good shape a year from now" And 40% of the population are clueless.

 
recession • US economy • economy

 
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