Nearly two-thirds of respondents are worried about affording ‘Everyday things’
Some 65% of Americans are “concerned” about being able to afford “day to day things,” according to a YouGov-CBS News poll published on Monday. Almost three-quarters of respondents – 73% – said they were concerned about their ability to save money.
Two thirds of poll respondents were concerned about whether they could afford to “Take a vacation, or travel,” while 70% said they were worried about being able to afford retirement. 66% of those who had children younger than 18 were concerned about their ability to afford childcare.
These worries were part of a bleak overall outlook on the economy, with 75% of poll respondents rating it “Somewhat bad” or “Very bad.” Asked how “America is changing fast.,” 60% responded that it was “There are worse things than [they]To be expected” at the start of the year, and fully 69% expected the economy to slow down or enter a full-blown recession within the next year.
The majority (59%) also disliked President Joe Biden’s work, particularly in regards to inflation (71% disapproving) or the economy (66% disapproving). Those two issues were similarly rated as the highest-priority problems for the country to address, whereas “Investigating January 6, 2021” was rated dead last, behind the coronavirus outbreak and climate change.
President Trump has had his approval ratings plummet as inflation rises to all-time highs. Gas prices also break new records every week. A Civiqs poll published on Sunday put his rating at an all-time low of 32%, with consumer sentiment plunging to a record low of 50.0 in the University of Michigan’s last reading for June.
Warning about global recession
Another poll conducted last week found a whopping 97% of Americans believe rising prices were a “Krise” or at the very least a “Problem,” with gas prices singled out as a particularly dire issue, and 91% of respondents said they believe the president has at least some power to get soaring costs under control. Janet Yellen (Treasury Secretary) recently stated that a recession is not likely. But economists are divided and some believe the US will not suffer the consequences. Deutsche Bank’s CEO warned that there will be a global recession before 2023.
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