Rosy headlines to the contrary, a new survey shows that 69% of Americans have a pessimistic view of our economy, both now and for the future.
Americans haven’t been that grim about the country’s economic prognosis — and by extension, their own — in the 17-year history of the CNBC All-America Economic Survey. Two-thirds of those polled say their wages can’t keep up with inflation — the same percentage who say the country is either already in a recession or headed for one.
The survey also noted that just 24% of respondents say it’s a good time to invest in stocks.
All this pessimism is being directed at President Joe Biden, who not too long ago called the economy “strong as hell.” According to the survey, 62% of Americans disapprove of his handling of the economy, with 34% approving; in November, that split was 57% to 38%.
The current economic approval numbers are the second-worst recorded in his presidency, according to the poll of 1,000 people.
The poll also revealed that 81% of Americans are tightening their belts to try to keep their heads above water and are spending less on purchases, including entertainment and travel.
Survey questions, methodology and results have not been verified or endorsed by ABC News or The Walt Disney Company.