90% of Americans say economy stinks

By Charles Riley

Nine in ten Americans say economic conditions in the U.S. are poor.

NEW YORK (CNNMoney) -- Three years after a financial crisis pushed the country deep into recession, an overwhelming number of Americans -- 90% -- say that economic conditions remain poor.
The number, reported Friday in a new CNN/ORC International Poll, is the highest of Barack Obama's presidency and a significant increase from the 81% who said conditions were poor in June.

The persistent pessimism indicates that Americans are feeling a level of hardship in line with the official statistics. Unemployment stands at 9.1%, economic growth is barely above stall speed, and the housing market remains tied in knots.

For a White House now fully engaged in re-election efforts, there is one shred of good news: More than two and half years after inauguration day, Americans are still more likely to blame former President George W. Bush for current economic conditions.

Asked which administration is to blame, 52% of Americans blame the previous Republican regime, while only 32% point a finger at Obama and Democrats.

While there is widespread consensus that the economy is in rough shape, Americans have a split opinion of two of its biggest actors: Federal Reserve Chairman Ben Bernanke and billionaire investor Warren Buffett.

Bernanke -- who leads monetary policy for the world's largest economy -- is relatively unknown. Only 42% of Americans have an opinion of the Fed chief. Meanwhile, those with an opinion are roughly split between positive and negative views.

Republicans are less enthused with the Fed chairman than Democrats. Only 25% have a favorable opinion of Bernanke -- a Republican who was appointed by George W. Bush and reappointed by Obama.

Both Bernanke and the Fed have become targets for criticism by most of the 2012 Republican presidential candidates, particularly Texas Gov. Rick Perry.

Buffett, meanwhile, is more well known and more popular. Forty-three percent of Americans have a favorable opinion of the Berkshire Hathaway (BRKA, Fortune 500) chairman, while 33% are unsure and 24% hold an unfavorable opinion.

Buffett has been more outspoken in his support of Obama in recent months -- even holding a fundraiser in Manhattan. As with Bernanke, Buffett enjoys a higher favorable rating with Democrats -- 47% of whom approve, while only 36% of Republicans give the same answer.

The CNN poll was conducted by ORC International from September 23-25, with 1,010 adult Americans questioned by telephone. The survey's overall sampling error is plus or minus three percentage points.

Urgent Petition

Sign the petition to stop Social Security Cuts and send a fax to every Member of Congress demanding they cut other spending, NOT SOCIAL SECURITY.

Recent News

Those Dastardly Republicans

Friday, May 18, 2012

Source: Politico

Congressional Republicans are back up to their old shenanigans on ObamaCare. Politico reveals that Republicans would try to replicate popular parts of Obama’s health care law if the Supreme Court overturns the law this summer.
Read Full Story

FDA Warns Doctors On Fosamax Side Effects

Tuesday, May 15, 2012

Source: ABC News

The Food and Drug Administration has warned doctors to watch for fractures of the upper thigh bone in patients taking several popular drugs designed to prevent hip fractures and fight osteoprothesis. The FDA warns that Fosamax and Boniva in particular, if taken unnecessarily or for too long, may actually be causing the bone fractures they are prescribed to prevent. Watch ABC News video.
Read Full Story

Senator Introduces Fugitive Taxpayer Act

Thursday, May 17, 2012

Source: ABC News

Exit Not An Option In Chuck Schumer's America. New York Senator Chuck Schumer has introduced the Fugitive Taxpayer Act of 2012 to re-impose taxes on expatriates after they flee the United States and take up residence in a foreign country. Proposal also would impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship and would bar such individuals from ever reentering the United States again.
Read Full Story

US War Machine Will Be Real Winner In Nov.

Wednesday, May 16, 2012

Source: Salon.com

Whether President Obama gets his second term or Romney enters the Oval Office, there’s a third candidate no one’s paying much attention to, and that candidate is guaranteed to be the one clear winner of election 2012: the U.S. military and our ever-surging national security state.
Read Full Story

Social Security Garnished for Student Loan Debts

Friday, May 11, 2012

Source: Truth-Out.org

According to the New York Federal Reserve, two million US seniors age 60 and over have student loan debt, on which they owe a collective $36.5 billion; and 11.2 percent of this debt is in default. 4.2 percent of all student loan debt is held by people over the age of 60, and that share grows with each passing year.
Read Full Story

Seniors vs. Military-Industrial Complex?

Tuesday, May 15, 2012

Source: The Washington Post

Across the U.S. economy, anxiety is rising about the potential for widespread disruptions after the November election, when a lame-duck Congress will have barely two months to resolve a grinding standoff over taxes and spending.
Read Full Story

Americans Say Cut The War Machine, Now

Thursday, May 10, 2012

Source: Huffington Post

Two-thirds of Republicans and nine in 10 Democrats polled support making immediate cuts to the military across the board -- a position at odds with the leaderships of both political parties.
Read Full Story

Police Beat Mentally Ill Man To Death

Monday, May 7, 2012

Source: Raw Story

Video revealing the circumstances of how a mentally ill homeless man in Fullerton, Calif. died last July was finally published Monday, revealing a stunningly brutal police assault that left Kelly Thomas bleeding, broken and near death.
Read Full Story

President Obama Is Running Out of Jobs Excuses

Monday, May 7, 2012

Source: Real Clear Markets

The number of people with jobs declined for the second month in a row, falling by 169,000 in April after easing by 31,000 in March. This means that there were 200,000 fewer Americans with jobs in April than there were in February. Additionally, the percentage of working-age adults who either have jobs or are looking for work, fell to 63.6%, which is the lowest level since December 1981.
Read Full Story

Attack Of The Drones

Tuesday, April 24, 2012

Source: Salon.com

In November 2010, a police lieutenant from Parma, Ohio, asked Vanguard Defense Industries if the Texas-based drone manufacturer could mount a “grenade launcher and/or 12-gauge shotgun” on its ShadowHawk drone for U.S. law enforcement agencies. The answer was yes.
Read Full Story

Read All Recent News

Get in the Know Now
Get SSI Email Alerts

Social Networks

Action Center