Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

CNN/ORC International Poll: Majority Thinks Economy Will Worsen CNN/ORC International Poll: Majority Thinks Economy Will Worsen

This ad will end in seconds
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation

 

Politics

CNN/ORC International Poll: Majority Thinks Economy Will Worsen

August 8, 2011

According to a new CNN/ORC International poll conducted as the nation's credit rating was downgraded by Standard & Poor's, a majority of Americans thinks the U.S. economy "is still in a downturn and conditions are going to worsen" for the first time in Barack Obama's presidency.

Fully 60 percent of Americans believe the economic downturn continues and will worsen. That is up sharply from mid-April, when just 36 percent thought the economy would worsen.

Just nine percent of Americans think the economy "is starting to recover from the problems it faced in the past year or so," down from 24 percent in April. Thirty-one percent think the recovery "has not started," but "conditions have stabilized and are not getting any worse."

The poll was conducted Friday to Sunday. S&P downgraded the U.S. debt from AAA to AA+ on Friday evening.

The poll comes after a week of mixed economic news. Last Tuesday, Obama signed a bill that raised the nation's debt limit and averted a government default. But the long and bitter process by which Congress passed the final bill turned off many Americans. In this poll, Americans are split on the final law: 48 percent approve of the bill when told it raises the debt ceiling and "makes major cuts in government spending over the next few years." But half of Americans still disapprove of the law.

On Thursday, the Dow Jones Industrial Average fell more than 500 points, as Wall Street found the debt deal was unable to soothe its general economic anxieties.

On Friday morning, the Labor Department released the July unemployment report showing nominal job growth and upward revisions to May and June figures, which brought some relief to Wall Street. Just 38 percent of Americans said their confidence in the American economy was shaken by the fall of the stock market, while 60 percent said their confidence was unaffected. But that was before another significant sell-off early Monday.

The CNN/ORC International poll surveyed 1,008 Americans age 18 and over. The margin of error is +/- 3.1 percent.

Job Board
Search Jobs
Digital and Content Manager, E4C
American Society of Civil Engineers | New York, NY
PRODUCT REVIEW ENGINEER
American Society of Civil Engineers | CA
Neighborhood Traffic Safety Services Intern
American Society of Civil Engineers | Bellevue, WA
United Technologies Research Fellow
American Society of Civil Engineers | New York, NY
Process Engineering Co-op
American Society of Civil Engineers | Conshohocken, PA
Electrical Engineer Co-op
American Society of Civil Engineers | Findlay, OH
Application Engineer/Developer INTERN - Complex Fluids
American Society of Civil Engineers | Brisbane, CA
Application Engineer - Internships CAE/CFD Metro Detroit
American Society of Civil Engineers | Livonia, MI
Chief Geoscientist
American Society of Civil Engineers
Application Engineer - Internships CAE/CFD Metro Boston
American Society of Civil Engineers | Burlington, MA
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Civil Enginering Intern - Water/Wastewater/Site-Development
American Society of Civil Engineers | Sacramento, CA
Staff Accountant
American Society of Civil Engineers | Englewood, CO
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Comments
comments powered by Disqus