November 11, 2009
November 11, 2009
82% of Americans think the recession is not over
62% said business will play a larger role in helping the economy recovery than government
45% rated the economy as the most important issue
62% believe economic growth should take priority over environment
New polls highlight public concern with the current state of the economy and demonstrate that Americans do not believe the recession is over. Overall, polls are showing an increase in pro-business sentiments and a drop in investor’s confidence in President Obama and his economic team. According to ABC News, 74 percent of Americans rate the economy negatively and 59 percent say their own finances are hurting. Six in ten Americans are worried about their family’s financial prospects.
A poll conducted by Public Strategies, a business advisory firm in Austin Texas, revealed that 82 percent of Americans believe the recession is not over. Results indicated that more people trust that business, not government, will help the ailing economy rebound. 62 percent, said business will play a larger role in helping the economy recover than the government. The Public Strategy poll included a sample of 1,000 households of registered voters and had a 3.1-point margin of error.
Public Strategies found that increased regulations may not be the solution. 45 percent of Americans believe in increased business regulation compared to the 67 percent who favored it back in December of 2008. As the Obama administration prepares to roll out new policies and increased regulations for climate protection, 62 percent of those polled agreed that “economic growth should be given priority, even if the environment suffers to some extent.”
Investors’ confidence in President Obama and his economic team dropped sharply during the last three months, even as the Standard & Poor’s 500 Index rose almost 7 percent and President Obama was awarded the Nobel Peace Prize. Of the global investors polled, 57 percent say they hold a favorable opinion, which is down 73 percent from a poll conducted in July.
Negative opinion about the economy is shared across the board. 87% of women and 77% of men believe the recession will continue. 85% of Independents, 84% of Republicans, and 79% of Democrats, are concerned the recession is not over.
It appears that many in America remain concerned about weathering the economic storm and the potential long term impact it will have on households across the country.
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