Americans’ views of economy, finances worsen: poll
by Zach Schonfeld - 06/26/22 4:51 PM ET
Three-quarters of Americans rate the current condition of the economy as fairly bad or very bad, and a majority are concerned about their ability to afford day-to-day expenses, according to a new CBS News-YouGov poll.
The proportion of Americans who view the state of the economy as fairly bad or worse has grown for each of the past two months, rising from 63 percent in April to 75 percent in the latest poll.
Republicans were more likely to have a negative view of the national economy, with just nine percent saying it is at least fairly good. Thirty-six percent of Democrats and 20 percent of independents viewed the economy as at least fairly good.
The increased pessimism comes after inflation rates in May surpassed economists expectations, with annual inflation hitting a 40-year high of 8.6 percent. Rising oil, food and shelter costs largely fueled May’s inflation spike.
Those price hikes have left many Americans feeling unsure of their ability to retire, take vacation or even afford day-to-day items, according to the poll.
One-third of respondents said they were very concerned about their ability to afford basic goods and services while 32 percent said they were somewhat concerned. Seventy-three percent expressed at least some concern for their ability to save money.
Just one in ten Americans said they were very confident in their plans for retirement, while 41 percent said they were very concerned.
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https://thehill.com/policy/finance/3537662-americans-views-of-economy-finances-worsen-poll/
