Thread: 52% Say Personal Finances Are Getting Worse

Rasmussen Consumer Index

52% Say Personal Finances Are Getting Worse

Wednesday, January 14, 2009

The Rasmussen Consumer Index stabilized somewhat on Wednesday, slipping less than half a point to 57.9. That's down nine points from a week ago, four points from a month ago, and is just one point above the all-time low established on December 17.

Following the jobs report, confidence fell more than five points over the weekend. Confidence is down thirty-one points from a year ago.

Nationally, only 7% of adults rate the U.S. economy as good or excellent. Sixty-eight percent (68%) rate it as poor. Meanwhile, 80% believe the U.S. is in a recession. Just 8% disagree.

When it comes to personal finances, 34% rate theirs good or excellent, while 24% say their finances are in poor shape. Only 18% say their finances are getting better, while over half (52%) say theirs are getting worse.

The Rasmussen Investor Index also fell only slightly to 63.9 today. That's down seven points from last week and down four points from last month. Investor confidence is now just five points above the record low established on December 16, 2008.

The Rasmussen Consumer and Investor Index is based upon nightly telephone interviews and reported on a three-day rolling average basis. Two-thirds of the interviews for today’s update were conducted after the government report on unemployment. Monday morning’s update will be the first based entirely upon interviews since that report was released.

Looking to the future, 39% of Americans say that the economy will be stronger in a year while 31% believe it will be weaker. Longer-term, there is optimism—62% say the economy will be stronger in five years than it is today.

Last week, the Rasmussen Employment Index fell to its lowest level ever and signaled continued weakness in the labor market. The Employment Index is released every month on the Tuesday before the government’s official report on unemployment and job creation.

Despite the troubled economy, most Americans believe that just about anybody who is willing to work can find a job. Most also believe it’s possible for just about anyone to work their way out of poverty. However, most say it’s not possible for anyone willing to work hard to get rich in America.

Forty-seven percent (47%) say that today’s generation of children will not be better off than their parents and Americans are narrowly divided over whether the United States will still be the world’s most powerful nation at the end of the current century.

Other survey data shows that most Americans believe the country will still be in a recession at the end of 2009.

Where will things go from here? Please take a moment to predict the results for the Rasmussen Consumer Index on Inauguration Day, January 20.

Full month data for December shows confidence setting a record all-time low for the seventh time in the last ten months. The Discover U.S. Spending Monitor also fell to a record low in December. One-third (34 percent) of consumers plan to spend less in January. This compares to 22 percent in November and just 24 percent from a year ago.

The Rasmussen Consumer Index and Investor Index are derived from nightly telephone surveys of 500 adults and reported on a three-day rolling average basis. The baseline for the Index was established at 100.0 in October 2001. Readings above 100.0 indicate that confidence is higher than in the baseline month. Detailed supplemental information is available for Premium Members. Historical data for the Consumer and Investor indexes as well as attitudes about the economy and personal finances are also available to Premium Members.

The Rasmussen Consumer Index reached its highest level ever at 127.0 on January 6, 2004. The all-time low was reached on December 17, 2008 at 56.8.

The Rasmussen Investor Index reached its highest level ever at 150.9 on January 7, 2004. The lowest level ever measured was 58.5 on December 16, 2008.

The baseline for the Rasmussen Consumer Index was established at 100.0 in October 2001. At 57.9, the overall levels of economic confidence are significantly lower today than they were in the aftermath of the 9-11 terrorist attacks.

http://www.rasmussenreports.com/public_ ... umer_index

Looking to the future, 39% of Americans say that the economy will be stronger in a year while 31% believe it will be weaker. Longer-term, there is optimism—62% say the economy will be stronger in five years than it is today.

The way we are going now and the crazed actions of our government I have very little faith that the economy will be better, I think it will be so bad that when we look back at the present we will be calling these the good old days.