The New Normal? Nearly All Americans Are "Worried" About the Economy, CNBC Reports
Posted Sep 20, 2010 09:48am EDT by Peter Gorenstein
A new CNBC poll out this morning shows President Obama has some major work to do on the economy. Fully 90% of Americans say they are "very" or "somewhat" worried about the economy. That's a higher percentage than when the same question was asked in 2008, at the height of the financial crisis.
More troubling for the president is that a majority of people either blames him for the sluggish recovery or thinks Washington can't fix the problems.
From the CNBC story:
"Only 14 percent of those surveyed believe that the government's policies dealing with the recession are helping them, while 56 percent say the policies are aiding banks.
"A clear majority of Americans, 55 percent, believe that the president's economic plans have made things worse, running up the deficit without ending the recession or creating new jobs.
"Only 42 percent say the president's policies have helped avert a worse crisis and are laying the groundwork for further growth."
Meanwhile, Paul Krugman writes in his latest New York Times editorial, the rich are especially peeved with the president's economic policies. Plus, they're not happy with the prospects of higher taxes.
The CNBC poll suggests rich or poor, the majority is not in favor of allowing the Bush–era tax cuts to expire. "Fifty-five percent think increasing taxes on any Americans will slow the economy and kill jobs. On the other hand, 40 percent believe those tax cuts should be cancelled for higher-income Americans," writes CNBC's Ellen Egeth.
As Aaron and Henry discuss in the clip, unfortunately, for all involved, there are no simple solutions to quickly turn around the economy.
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Enviado: 22/9/2010 1:45