Monday, June 6, 2022

Poll Shows Americans Have Dim View of the Economy, Government, and Global Elites

I still see articles saying the Democrats have a chance in November, blah, blah. If you see stuff like that, fugetaboutit.

The left will be crushed in the midterms. We're in a national malaise, certainly worse than the 1970s, when President Jimmy Carter --- during the oil shocks from the Middle East --- told Americans to turn the thermostat down in winter.

People will not stand for this much longer.

At the Wall Street Journal, "Inflation, Political Division Put U.S. in a Pessimistic Mood, Poll Finds":

Americans are deeply pessimistic about the U.S. economy and view the nation as sharply divided over its most important values, according to a new Wall Street Journal-NORC Poll.

The findings are from a Journal survey conducted with NORC at the University of Chicago, a nonpartisan research organization that measures social attitudes. The survey found Americans in a sour mood and registering some of the highest levels of economic dissatisfaction in years. The pessimism extended beyond the current economy to include doubts about the nation’s political system, its role as a global leader and its ability to help most people achieve the American dream.

Some 83% of respondents described the state of the economy as poor or not so good. More than one-third, or 35%, said they aren’t satisfied at all with their financial situation. That was the highest level of dissatisfaction since NORC began asking the question every few years starting in 1972 as part of the General Social Survey, though the poll’s 4-point margin of error means that new figures may not differ significantly from prior high and low points.

Just over one quarter of respondents, 27%, said they have a good chance of improving their standard of living—a 20-point drop from last year—while just under half of respondents, 46%, said they don’t.

The share of respondents who said their financial situation had gotten worse in the past few years was 38%. That marked the only time other than in the aftermath of the 2007-09 recession that more than three in 10 respondents said their pocketbooks were worse off, according to GSS data going back a half-century.

The survey results show that high inflation in particular is driving the dim economic outlook, said Jennifer Benz, vice president of public affairs and media research at NORC. Inflation is running at close to its fastest pace in four decades, at an 8.3% annual rate in April, one of several factors weighing on consumers. Households are digging into savings to support their spending, the Commerce Department has said, and the S&P 500 nearly closed in bear territory recently.

The labor market has been an economic bright spot, with the unemployment rate close to a half-century low, at 3.6% in May. In the survey, about two-thirds of respondents said it would be somewhat or very easy to find a new job with about the same income and benefits. That was one of the highest levels on record since GSS began asking the question in 1977.

Still, the results suggest that Democrats, who control the White House and Congress, face a dispirited electorate heading into November’s elections. Other pollsters say economic issues are the top concern for voters, and they are likely to hold the party in power accountable for high inflation that has made housing, groceries, gas and other essentials more expensive.

More broadly, the survey reveals a despondent view of national unity and partisan splits over cultural issues, suggesting that a connective tissue of pessimism underlies Americans’ economic and social attitudes. Some 86% of respondents said Americans are greatly divided when it comes to the most important values, and over half said they expect those divisions to worsen five years from now, up from just a third of respondents who were asked the question last year.

“In the prior years that we’ve asked this question, there’s at least been some hope, a little bit more hope, that things might get better,” Ms. Benz said. “That’s a key difference underlying all of this right now.”

About six in 10 respondents said they were pessimistic about the ability for most people to achieve the American dream...