Poll: US filled with pessimism over economy

Days before his inauguration to a second term, President Barack Obama leads a country riddled with pessimism about the economy and his ability to improve it, a new Wall Street Journal/NBC News poll finds.

Americans see some signs of improvement in the economy but are mostly downbeat about the next four years and about their own financial prospects, a grim contrast to the buoyant mood of Inauguration Day four years ago.

“If 2009 was all about hope, 2013 is about the ability to cope,” said Peter D. Hart, the Democratic pollster who conducted the survey of 1,000 adults with Republican pollster Bill McInturff. “Americans still perceive tough times ahead, and I think they have lowered their sights.”

1 % of US rich elite’s President Obama has emerged largely unscathed from a battle with congressional Republicans in recent weeks that produced a last-minute deal to raise income-tax rates on upper brackets while extending Bush-era rates for most Americans. Some 52% of adults approve of his job performance, a higher rating than through most of his first term.

In an ominous sign for both parties, the protracted and inconclusive budget battle has taken a toll on the public’s confidence in the economy.

Just over half of those surveyed said they were less confident about the economy as a result of the budget negotiations. “This is now Washington’s economy,” said Mr. McInturff. “The problem in Washington is…contributing to a very negative sense of what’s going to happen in the economy.”

“The clouds and pessimism about the economy are going to continue to make it very difficult for anyone in Washington to catch a break in terms of Americans’ opinion,” he said.

One measure of the public’s sour mood was that only 43% said they were feeling optimistic about the next four years. That falls short of the 48% who said as much in 2005, when then-President George W. Bush started his second term.

Asked specifically about their economic prospects, only 34% said they expected 2013 to be a “time of economic expansion” for their families; 60% said they saw the coming year as “a time to hold back and save, because harder times are ahead.” WSJ
HIGHLIGHTS

The poll found that President Obama had lost standing on several fronts compared with his first term, most notably on his ability to change the way Washington works.

Only 12% of those polled gave him very high marks for his ability to deal with Congress. And on economic matters, only 36% said that they were very or fairly confident in his ability to strengthen the economy; more of those polled-43%-had that confidence in Mr. Bush as he was sworn in to his second term.

The Republican Party saw its standing plummet to a record low. Some 49% of those surveyed had a negative view of the GOP, compared with 26% who saw the party in a positive light. The previous record low was set in August 2010, when 46% viewed Republicans negatively.

The report card for House Speaker John Boehner (R., Ohio) was particularly grim. He was viewed positively by 18% and negatively by 37%. Positive views of the tea party dropped to 23%-the lowest since such polling began in January 2010.