90 percent of Americans feel poor
Only one-out-of-ten Americans think the economic condition of the country today is in good standing.
That’s the result from a new poll released on Friday by CNN. In a telephone survey conducted with ORC International between September 23 and 25, 2011, data analyzed by CNN suggests that 90 percent of Americans feel that the current economic condition is either somewhat poor or very poor.The results from the survey show that more Americans than ever are pessimistic about the money problems plaguing the nation right now since President Barack Obama took office in 2009. Mulling over more than a decade of data, the only other time figures were as grime in the last several years was in late 2008 as the country as falling into a recession.Now, three years later, many economists say that a double-dip is unavoidable.Last week the Federal Reserve announced plans to help revitalize the economy by revealing that they would be investing $400 billion into new long-term Treasuries to attempt to get investors to consider riskier moves. "Recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," the Fed said in a statement at the time. As conditions only worsen, Americans remain unemployed and unrest is more evident than ever, the latest news out of CNN should not be considered all that much of a surprise.Not only do nine-out-of-ten Americans feel as if the country is in turmoil, but if current trends continue, it looks like only more doom and gloom is on the horizon. “The trend in jobless claims is an important input into our recession probability model, and if this trend were to continue for a number of weeks it would raise a warning flag on the state of the economy,” John Ryding, chief economist at RDQ Economics, tolf the Fiscal Times last month.Meanwhile, President Barack Obama awaits the approval of his American Jobs Act, which he hopes will put the country back on its feet. Lawmakers, however, have yet to give it the go-ahead. Speaking to reporters from the White House this morning, Obama said of the bill, “I want it back; I’m ready to sign it.”If the latest numbers from CNN don’t shock you, put them into perspective by comparing statistics from the Clinton administration. In 1999, only 11 percent of Americans viewed the economic condition as poor. Surveys taken earlier in this year show that 75 percent of Americans viewed the condition as poor back in January 2011, with numbers jumping up from 85 percent to 90 percent between the second week of September to last week when the latest survey was conducted.
