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Snap Poll: Majority pessimistic about future of U.S. economy

Nearly two-thirds–65 percent–of readers participating in this week’s RBJ Daily Report Snap Poll are pessimistic about the U.S. economy looking toward the next year. But 59 percent are optimistic about their own family’s financial situation for the next year.
National polls show Americans think the economy is the No. 1 issue in this year’s presidential election. Unease has been fueled by the crisis in the housing market, high energy costs and tightening credit.
In response, Congress and the president have taken steps to stimulate the economy.
The Snap Poll numbers are in line with those of a national CBS News/New York Times poll in January, which showed 62 percent of those polled think the economy is getting worse, not better. That is the highest percentage since 1990.
Snap Poll respondents were split about their family’s financial situation now compared with a year ago. Thirty-five percent said it was about the same, 35 percent worse and 30 percent better.
Roughly 760 readers took part in the poll, conducted March 3 and 4.

Compared with one year ago, how is your family’s financial situation?

About the same 35%
Worse 35$
Better 30$

Looking ahead over the next 12 months, are you optimistic or pessimistic about your family’s financial situation?

Optimistic 59%
Pessimistic 41%

Looking ahead over the next 12 months, are you optimistic or pessimistic about the U.S. economy?

Optimistic 35%
Pessimmistic 65%

COMMENTS:
As someone who is unemployed here in Rochester, the likelihood of selling my home at a loss to move to a new city in search of career-growth employment appears more promising than risking prolonged unemployment locally for lack of suitable opportunities.
-Christopher Burns

There is way too much bad press about every little bump in the economy. They are talking people into thinking recession. Their outlook will swing immediately if a Democrat takes the White House.
-R. Phelps, Allen-Bailey Tag & Label

On a shopping outing on a recent Saturday afternoon to the mecca of Monroe County’s shopping areas, Henrietta, I was surprised to see so many people in every store I visited, from Lowe’s, to Target, Best Buy, Macy’s and Kohl’s. I thought to myself, surely, if the economy is as bad as the news media tells me it is on the evening news, there would not be so many people out shopping. Despite the rumors and fear-mongering about a pending recession, the good people of Monroe County are out doing their part to drive this economy.
-Chris Fridd, Rochester

NAFTA has ruined our small-business economy, not that we have not done ourselves in. Buy American; the job you save may be your own!
-David DeMallie

I am optimistic about Rochester’s economy in that just as we didn’t benefit as much as some other areas from the recent ups, we won’t suffer as much from the predicted downs.
-Jessica Murray, Boylan, Brown, Code, Vigdor & Wilson LLP, Rochester

Americans don’t have any extra spendable income. It is all in the gas tank. This is going to affect most of the service industries, and impulse purchases that keep our economy strong. America runs on Americans spending money. If we don’t have it to spend, our country will run out of gas.
-Scott Osborn, owner, Fox Run Vineyards, Penn Yan

03/07/08 (C) Rochester Business Journal

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