Economic Attitudes Indicate Encroaching Anxieties

Staff Report From Georgia CEO

Tuesday, July 21st, 2015

Americans are increasingly bracing for overcast economic skies: Only one in four U.S. adults (25%) believe the economy will improve in the coming year, down from a third (32%) at the beginning of 2015. Conversely, 27% believe the economy is going to get worse in the coming year – up from 21% in January. 

  • Millennials (32%) and Democrats (38%) are most likely to believe the state of the U.S. economy will improve. 
  • Meanwhile, Baby Boomers (31%) and Republicans (39%) are most likely to say it will get worse. 

Looking toward the homestead, 23% of Americans expect their own household's financial condition to get better in the next six months – on par with April (also 23%) but down from earlier in the year (27% January, 26% February); meanwhile, belief that the economic state of the household will backslide (22%) has risen some since February (19%). 

  • Men are more likely than women (28% vs. 19%) to expect their household's financial condition to improve in the next six months, while women are more likely (59% vs. 50%) to believe it will remain the same. 

These are some of the results of The Harris Poll of 2,220 adults surveyed online between June 17 and 22, 2015. Full results of this study, including data tables, can be found here.

President Obama's ratings down as well
Positive ratings of President Obama's overall job performance, which jumped a bit to 41% last month, are now back at 38% (identical to April). Strong majorities of Democrats (68%) and Liberals (70%) give the President positive ratings, while even stronger majorities of Republicans (92%) and Conservatives (86%) give him negative ratings. As for Independents, two-thirds (66%) give the President negative overall ratings while one-third (34%) give him positive ratings.

When asked to rate President Obama's performance specifically in regards to the economy, positive ratings, at 36%, are the lowest they've been since last December (when they were at 34%). Correspondingly, negative ratings (64%) are the highest they've been in 2015 to date.

Ratings for Congress and overall state of the country also low
Congress spends its third month in a row just short of a double-digit positive rating, with 9% giving it positive ratings and 91% rating it negatively. Here the parties (and those without a party) are united, with low positive ratings across political lines (7% among Republicans, 10% each among Democrats and Independents).

Ratings improve a bit in relation to one's own member of the House of Representatives, with one-fourth of Americans (24%) rating their own representative positively, 63% rating them negatively and 13% saying they're not familiar enough with their representative to give a rating.

Similar to economic and presidential ratings, the perception that the country is headed in the right direction is at its lowest point of 2015, with three in ten affirming this position (30%, down from 35% last month) while seven in ten (70%, up from 65% last month) feel the country has gotten off on the wrong track. Democrats are split on whether things in the country are going in the right direction (50%) or have gotten off on the wrong track (also 50%), while majorities of Republicans (86%) and Independents (75%) believe things have gotten off on the wrong track. 

To see other recent Harris Polls, visit us at TheHarrisPoll.com

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