Friday, May 11, 2012

Poll: American Optimism on Economy Fading Fast

Posted By on Fri, May 11, 2012 at 8:44 AM

A new poll reveals that Americans' pessimism on the nation's economy is growing and it remains President Barack Obama's greatest hurdle in his bid for a second term.

The survey, released this morning by Associated Press-GfK, indicates that the pessimism extends across party lines, including a steep decline in the share of Democrats who called the economy "good," down to 31 percent from February's 48 percent.

Overall, almost two-thirds of Americans disapproved of Obama's handling of gas prices. Nearly half strongly disapproved.

The survey showed that optimism surrounding an economic recovery has all but stalled. The share of Americans describing the economy as "good" dropped 10 points since February, down to 20 percent. Two-thirds of those responding described the economy as "poor." Fewer than one in three said they expected their household income to improve in the coming year. Eighteen percent saw their finances as worsening.

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