Poll: Americans’ confidence in the economy is crumbling as inflation soars

According to a Gallup poll released on Wednesday, Americans have low trust in the economy, with 42% ranking current economic circumstances as “poor” and 38% classifying them as “fair.” Per the poll, which was conducted between April 1st to 19th, only 2% of respondents claimed the economy is “excellent,” while only 18% said it is “good.”

Americans are rapidly losing faith in the US economy, reflecting mounting consumer concerns over sky-high inflation and the rising cost of daily products.

Furthermore, the majority of Americans believe the economy will continue to deteriorate: Around 76 percent say the economy is deteriorating, compared to 20% who believe it is improving.

“Economic confidence is depressed, but it is still well above readings seen during the Great Recession,” the survey stated. “However, if inflation continues to rise and gas prices remain elevated as the summer months approach, economic confidence in the United States could fall much further.”

Economic concerns are cited by four out of ten Americans as the most pressing issue confronting the country, the highest level in six years, with 17% seeing the high cost of living as the most pressing issue. Another 6% indicated the most serious issue is rising fuel prices.

These statistics are slightly higher than last month when 35% of Americans said the economy was the most serious issue.

In the statistics, there is a partisan gap. Republicans are more likely than Democrats to say that the country’s biggest problem is economic issues, particularly inflation. The economy is the No. 1 problem, according to 42% of Republicans and 33% of Democrats.

The poll comes after the government revealed that consumer prices rose 8.5% year over year in March, the fastest rate since 1981. Food (8.8%), gasoline (48%), electricity (13.5%), and rent have all increased in price in the last year (5.1% ).

President Biden’s approval rating has dropped as consumer prices have risen, which has been bad news for him. The White House has blamed the price increases on Russia’s war in Ukraine, supply chain bottlenecks, and other pandemic-related economic disruptions, while Republicans have blamed it on Trump’s huge spending program.

During a panel discussion at the International Monetary Fund and World Bank spring meetings this week, Fed Chairman Jerome Powell said, “It is appropriate to be moving a little more quickly.”

 

14 Responses

  1. This administration is doing nothing to help this country. We have no controlled border, worse crime ever, worst economy in many many years highest gas prices and they do absolutely nothing. This is perfect for their Marxist/socialist goals which will destroy this great United States of America and our FREEDOM we have always stood for

    1. I would like to see an emergency Presidential election in 2022. It could be done with today’s high speed news..

  2. The Democratic Party has become insane. Biden’s Presidency has been a disaster. It’s all on them. We had a good economy until he became President. Now we have inflation and looking at a recession with a open border policy that could destroy this country. A country without borders is no country at all. Now the Democrats are aiming at censorship. They want to censor like other authoritative countries. This is not America we can not let it happen. Biden has stepped over the line he needs to go.

  3. The Entire Democratic Party; Both At State And Fed. Level Have Made Themselves Irrelevant In Todays Political Arena. With All The Back Door Investments Made By Their Kids For Just Being Who They Are; And Potential For Taking Over America By These Third World Countries; The Current Admin Is The Biggest Threat To America.

  4. There is a reason why so many of us are here on this earth at this particular time in our American History which is to fight with every bone in our bodies to keep this a FREE – JUDAEO-CHRISTIAN-NATION…..Our children, grandchildren, great grandchildren deserve to keep their innocents for as long as possible. Let the Marxist-Oligarch’s of the world know that PARENTS are the first teachers their children ultimately know…..Teachers take the place of some parents in that they deserve the respect and honor associated with their title…..Consequently programs being taught are: READING, WRITING, ARITHMATIC along with SOCIAL STUDIES, SCIENCE, GEOGRAPHY, HISTORY, BIOLOGY, CHEMISTRY, ETC…….Race differences should not enter in at all since we believe GOD CREATED THE HUMAN RACE TO HIS IMAGE AND LIKENESS…….Just as species of vegetation, animals, plants, trees, water, ponds, rivers, creeks, mountains encompass various colors due to pigment, so to do our human brothers and sisters which makes us different nevertheless co-equal on this planet called: ‘EARTH!’……. It is time NOW AND FOREVER to come together as a MEETING OF THE MINDS to understand where our FREEDOM’S come from and to WHOM we owe a debt of GRATITUDE – RESPECT and above all LOVE…..

  5. The democretins have put themselves in being unaccountable by the fact that only the deep state elite like it that way. Even if Biden were not in the 2024 election, you can bet the party would choose another equally corrupt and equally stupid marxist. They will keep Gabbard’s and Manchin’s names out of the news. Can you imagine how the democrats what the party would do if one of those were to run in the primary? I might even vote for Tulsi. She’s more of a patriot than rinos.

  6. I can’t believe all the Democrats are idiots, but where are the moderates who are willing to speak up! I have never been this afraid for our country. The Democrats are destroying our country, our values, traditions, morals, culture & economy! I can’t wait to vote in November!

  7. All people no matter race or color are being stompped on all Americans and especially the states who have to be robbed and killed by aliens at the border!

  8. This country is such trouble thanks to the Democrats! Why did people vote for sleepy creepy Joe! It was a vote against Trump! How did that go! Anyone bought groceries or gas, how about medicine? Thank you Democrats!

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