Tags: Gallup | Americans | finances

Gallup: Fewer Americans Feel Good About Finances

Monday, 28 Nov 2011 08:17 AM

Fewer Americans see sunny skies ahead when their personal finances are concerned, a Gallup poll finds.

In fact, the forecast is getting gloomier.

The recent poll finds that 49 percent of Americans are feeling better about their financial situations these days, down from 53 percent who were feeling better in mid-summer.

Blame Washington for the sour mood.
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"The drop in Americans' positive attitudes about their finances in August occurred just after the congressional wrangling over the Aug. 2 debt ceiling deadline, suggesting that there may be a similarly negative impact from this week's failure of the super committee to reach its budget-cutting deadline," Gallup reports.

The super committee, a group of six Democratic lawmakers and six Republicans, failed in its task to find ways to shave $1.2 trillion from the nation's deficits, the latest in what's perceived as a trend of bickering and finger-pointing instead of problem-solving in Washington.

Analysts have pointed out that the super committee's failure won't bruise consumer confidence because the nation was already pessimistic with the economy in the first place.

Consumer spending accounts for about 70 percent of economic output in the United States.

"The super committee ... is not in the limelight as much because there’s other dark clouds hanging over the U.S. economy," including the spreading financial crisis in Europe, says Ryan Sweet, an economist at Moody’s Analytics, according to the National Journal.

"Most consumers realize the U.S. has a serious fiscal problem," Sweet says, adding "the super committee doesn’t have a direct impact on their day-to-day lives."

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Fewer Americans see sunny skies ahead when their personal finances are concerned, a Gallup poll finds. In fact, the forecast is getting gloomier. The recent poll finds that 49 percent of Americans are feeling better about their financial situations these days, down from...
Gallup,Americans,finances
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2011-17-28
Monday, 28 Nov 2011 08:17 AM
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