Poll Points to Pessimism About US Economic Future

On Wednesday Reuters/lpsos released the results of a poll which showed that Americans are intensely worried about the future economy in the wake of the stalled White House talks on raising the debt limit.

On the Wrong Track

July’s figure for those Americans who believe that the country is ‘on the wrong track’ rose to 63% from an already astounding 60% in June. Hopes for a fast economic recovery have been crushed as unemployment rates continue to stay stubbornly high while Washington seems stuck in the mud about what to do to alleviate the problem.

Obama’s Approval Rating Holding Steady

Despite the bad news and lack of hope, voters are still relatively satisfied with President Obama, and do not yet hold him responsible for the mess. Obama’s approval rating has stayed steady at 49%, down a meager 1% since June.Lpsos pollster Julie Clark said that there is a large chance that if the economy does not begin to show signs of improvement soon, the president’s approval rating could begin to plummet.

“If those things don’t happen, Obama will be in for a real challenge in getting re-elected next year,” Clark said.

The economy is heading for a crisis as the deadline for the US to pay its bills fast approaches, on August 2. Republicans have been in negotiations with Obama and his administration as to how to handle the upcoming deadline, especially whether or not to  raise the legislated debt limit, but so far have come up with no solution which both sides can agree on.

Need to Prioritize

Without an expansion of the debt limit the government will be forced to choose which creditors to pay first. Pollsters asked which bills should take priority.Thirty-six percent of those asked said international creditors such as banks should be paid first, while twelve percent said government department such as education and agriculture should take priority.Since the issue of the economy will certainly be one of the most debated issues during the coming election year, this poll is crucial in getting a handle on how the voters feel about the economy and Obama’s relation to it.

Alyssa Anderson

Alyssa Anderson has been involved in the world of business on several levels for many years. She was the CEO of a start-up high-tech company until its purchase by a global on-line e-business. Alyssa helped formulate marketing strategies for several other companies as an independent consultant, and she has advised local government on methods to achieve appropriate fiscal responsibility. Her opinions are well known through her many editorials which have been published throughout her career in a variety of local and national print media. She has been heard on radio discussing current issues affecting the business community and Alyssa hopes to bring her special brand of commonsense coupled with uncanny insight into her editorial responsibilities as the Business Page editor for Left Justified. Contact Alyssa at alyssa(at)leftjustified.com.

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