Sunday, March 27, 2011
The number of Americans who think the U.S. economy will spiral into a depression similar to the 1930’s is at its highest level in two years.
A new Rasmussen Reports national telephone survey of American Adults shows that 18% now say it’s Very Likely that there will be a 1930’s-like depression in the next few years. Another 31% say such an outcome is Somewhat Likely. The data also shows that 34% say a new Depression is Not Very Likely while 8% say it’s Not At All Likely. (To see survey question wording, click here).
Those figures suggest a slight increase in pessimism from the end of last year. However, the numbers were a bit worse in March 2009.
Survey data released earlier shows that just 21% believe that today’s children will be better off than their parents.
Thirty-five percent (35%) believe the economy will be stronger in a year while 43% think it will be weaker. The discouragement is deep enough that fewer than half think the U.S. economy will be stronger five years from now.
In January, consumer confidence reached the highest level in two years. However, the Rasmussen Consumer Index has shown confidence declining in February and March. But when it comes to just a year’s time, a plurality (43%) says economic conditions in the country will be weaker.
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The survey of 1,000 Adults was conducted on March 17-18, 2011 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.
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