Three in four Americans say economic recession will last another two years

Posted By: Abdul Nisar
Subscribe to Oneindia News

New York, July 14 (ANI): A majority of Americans believe recession will linger on for years.

According to a new CBS News poll, three in four Americans say the effects of the recession will last another two years or more.

More than eight in 10 say the condition of the economy is bad, up five points from last month.

Just 25 percent of Americans say the economy is getting better - down from 41 percent in April. About half say it is staying the same, and the remaining quarter stay it is getting worse.

More than half of Americans - 52 percent - say President Barack Obama has spent too little time dealing with the economy.

With unemployment near 10 percent, most Americans say the state of the economy is their priority and the primary concern is jobs, followed by national debt, the deficit and spending.

Nearly one in four expect their household finances to get worse over the next year, twice the percentage that expects their finances to improve.

The president's job approval rating on the economy now stands at 40 percent - a drop of five points from last month. Fifty-four percent disapprove of his handling of the issue.

Americans are evenly split, meanwhile, on whether the president shares their priorities. Two in three believe he cares at least to some degree about people like them.

Most Americans - 53 percent - say the best way to get the economy moving is to cut taxes. Thirty-seven percent instead choose government spending on job creation. (ANI)

Please Wait while comments are loading...