Tags: Rasmussen | economy | worse | year

Rasmussen Poll: 50% of Adults Feel Economy Will be Worse In a Year

Wednesday, 21 Nov 2012 11:55 AM

Half of Americans feel the economy will be worse off in a year’s time, a new Rasmussen Reports survey finds.

“Americans are much more pessimistic about both the short- and long-term economic future following President Obama’s reelection,” Rasmussen Reports states.

“Fifty percent of American Adults now believe the economy will be weaker in a year’s time. That’s a 27-point jump from October and the lowest finding since September of last year,” the polling firm adds.

Editor's Note: Economist Warns: 50% Unemployment, 100% Inflation Possible

Some 34 percent of the 2,000 adults surveyed believe the U.S. economy will be stronger in a year, down 7 points from a month ago, while 9 percent said it would be about the same.

Over the longer term, sentiments get even worse.

Over the next few years, 51 percent of the voters polled said it is somewhat likely the United States will enter a depression like the one in the 1930s, up from 35 percent in October and the highest level measured in a year.

Only 41 percent said they did not see a 1930s-like depression as likely.

Other polls, meanwhile, are finding waning confidence in the economy.

Gallup’s U.S. Economic Confidence Index dropped to -15 last week, down from -11 the week before.

“Concerns about the looming fiscal cliff and a slumping stock market may be largely responsible for Americans’ retreating economic confidence,” Gallup reports, referring to the fiscal cliff, a combination of tax hikes and automatic spending cuts due to take effect at the same time at the end of this year.

“If Congress and the president fail to reach a budget deal, substantial tax increases and spending cuts will automatically take effect in January, an outcome that economists warn could push the U.S. back into a recession.”

Editor's Note: Economist Warns: 50% Unemployment, 100% Inflation Possible

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