CBS Poll: Thoughts On Economy Grow Darker

Majority Of Americans Now Believe U.S. Economy In Recession, CBS News Poll Shows

(CBS)  With the financial market reeling from the collapse of Bear Stearns, public confidence in the national economy continues to plummet. Three in four Americans now rate the economy as at least somewhat bad - the highest percentage in more than 15 years - and the same number say they think it is getting worse, according to a new CBS News poll.

Sixty-six percent of Americans say the U.S. economy is now in recession, up 13 points from January. Just 2 percent of those surveyed say the economy is getting better, while 34 percent characterize the present economic situation as very bad.

A year ago, a majority of Americans thought the economy was in at least somewhat good condition. But now just 25 percent of Americans feel that way. That's the lowest percentage recorded since October 1992, just before President George W. Bush's father lost the presidential election to Bill Clinton.

Read The Complete Poll Results

Only one in four Americans approve of Mr. Bush's handling of the economy, his lowest rating to date. Sixty-eight percent disapprove of how he’s handling the economy, an all-time high. Only a slim majority of Republicans - 53 percent - still approve.

Twenty-nine percent of Americans say the economy is the issue they most want the presidential candidates to discuss. Twenty percent cite the war in Iraq and 12 percent cite health care.

More Americans believe the economy is getting worse than at any time since 1980, another election year in which the incumbent candidate lost. Republicans, Democrats, and Independents - as well as Americans of all income levels - are all pessimistic about the economy.
_________________________________

This poll was conducted among a random sample of 1,067 adults nationwide interviewed by telephone March 15-18, 2008. The error due to sampling for results based on the entire sample could be plus or minus three percentage points. The error for subgroups is higher. A small oversample of African Americans was also conducted for this poll, for a total of 122 interviews among this group. The results were then weighted in proportion to the racial composition of the adult population in the U.S. Census.

[underdogus]

A lot of people will get no supper tonight,a lot of people will suffer tonight,so a lot of people will stand up and fight...saddle up the third horseman of the apocalypse............

[mcvet]

A lot of people will get no supper tonight,a lot of people will suffer tonight,so a lot of people will stand up and fight...saddle up the third horseman of the apocalypse............


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Posted by underdogus at 06:49 PM : Mar 19, 2008
+ report abuse

No there''s just a LOT of American''s, more than I can ever remember, just sitting here waiting for November. They handed George Bush a Government with a Balanced Budget and a Surplus. They had given Bill Clinton the support he ask for in putting restrictions on congress and their political desire to shout Cut Taxes while never cutting spending. Mr. Clinton told those Politician''s if you want to promise Tax Cuts fine, you show me where you want to cut spending and let''s tell the american people the whole story. They seem to like that. Anyway they handed Bush that policy and that budget. He has run it totally and completely into the ground. Yep there''s one hell of a lot of Angry people out here and they are waiting for November. Sieg Heil Republican''s.

[GCG]

Mr bush this is another one on your watch: "Thoughts On Economy Grow Darker!"

[getcentered]

Don''t we Americans just LOVE the trickle down effect?

Gop/Republican policies in action!! Yea....

[andor3]

"... bush this is another one on your watch..."

We cannot blame GWB entirely for this... it goes back to Reagan and Bush I and the maniac political and economic advisors who steered them to this reckless policy.

We need to roll back about 20 years of conservative nonsense, mumbo-jumbo, tax-cuts-for-rich, corporate-welfare, deregulation. Then the recovery may start, and let us hope it is not too late.

Have Reagan/Bush/Bush destroyed America? I like to think we Americans have the courage and will to rise up and crush these idiots and get the country back on track!

[timdgrim]

This man and his administration are completely oblivious to his people out here in the real world.
He has never had a real job and has no idea what it is like to do without. You can blame Bill Clinton for all his shortcomings (Monica Lewinsky (sp) and his escapade with her) However, these holier than thou Republicans should be completely ashamed of this man and how he has run this country into the ground to help his rich cronies. How much more of this kind of government will the American people stand? Be sure and wear that flag lapel pin. That''s the most important thing! Get out of Iraq and let those people take care of themselves, they''ve had enough of our lives and money. Let''s take care of our people.
Either that or start up the draft and let their kids join in the effort. I did my time, DO YOURS!

[mcv57]

Don''''t we Americans just LOVE the trickle down effect?

Gop/Republican policies in action!! Yea....

Posted by getcentered at 07:03 PM : Mar 19, 2008

Actually, this Republican Trickle-Down theory was Not Reagan''s economy philosophy . . . it was Hoover''s idealogy. Why Americans was fooled by this old political trick is beyond my comprehension. Reasonomics was Nazis Economics using credit for war machines; only difference is that Hitler siezed other countries to pay for the German debt. Reagan used the Taxpayer of the U.S.

[timdgrim]

I posted my comment on the wrong story..Sorry, but you get the idea! I had a Bush brain ***!

[mcv57]

Reasonomics was corrected to Reaganomics but you know this WP.

[beehive21-2009]

A lot of people will get no supper tonight,a lot of people will suffer tonight,so a lot of people will stand up and fight.? underdog

The people of this country need to miss a few dinners they are fat,the kids are fat,stop eating you fatso.

[mcv57]

Posted by beehive21

I think you are on cheap drugs. This blog is about the American Economic situation, NOT the American Obesity problem. Go back to school, your brain is not working right.

[iceman_1960]

Bad news for John McCain.

Because all the voters, except the r*etarded ones, will be thinking about this when they vote, not Rev. Wright.

[atlasdaddy]

For the love of America, did no one hear what Ron Paul was saying!!! He said this was going to happen and he said it would be bad. We need honest money, to stop the war and telling the world how to do things. Open up the free market and let it take its course. Get rid of the FED, no national I.D., and forget about the North American Union. This is all just a plot to bring in the Amero and the North American Union. I hope I will never be able to say, "I told you so". There is still a chance. Look into Ron Paul and vote for him if you can. Learn about what he is talking about and don''t take the Main Stream Media at face value. Use your brain and think of what we are up against. Ron Paul 2008!!!

[samthetvcat]

pt 2

What''s missing from the GOP perspective is awareness of the opportunities trade affords the US - what can WE make for OTHERS in the world that they would like to buy from US. We''re doing great with creative endeavors like music, movies, and tv. Also, Ipods, and software like Goooogle and Microsoft Windows. Maybe we can start marketing cheaper cars and computers to emerging markets. Maybe we can start marketing water filters and solar panels to third world governments, as well as start-up business technology and seed money.

Personally I think Obama shows the global awareness to be able to implement these kinds of ideas, and probably Hillary too. McCain absolutely not, which is why he may be stuck trying to make the general campaign about Obama''s pastor or Hillary''s gender, as well as lies such as fake links between Iran and Al-Qaeda, or tax breaks for big business and prosperity - LIES!

Obama 08!

[samthetvcat]

pt 1

It''s a total lie that Republicans are pro-big-business and pro-capitalism, just like their lie that they are the party of ''patriotism'' and military savvy. I think they try to be pro-big-business and pro-capitalism, but because they''re so greedy, selfish, and incompetent, their actions are actually harming the economy, just like how their show of ''strength'' in invading Iraq has paradoxically weakened our national security.

The essence of our economic woes seems to be that the greedy elite have for the last couple of years focused all their efforts on trying to make money at others'' expenses, rather than focusing their efforts on fulfilling the needs of people either here at home or abroad. The book ''From Good to Great'' highlights how the hallmark of mediocrity is the businessman''s mentality that business is about making money rather than contributing something of value to society.

The subprime credit market was nothing more than a pyramid scheme designed to get more people to invest in a bubble market that was necessarily going to burst. Hedge-funds, the other source of wall-street profit is nothing more than gambling on the market as if it were a basket ball game. Enron was a complete fraud, just like Bush''s claims that there were wmd''s.

[donbl1]

Good thing McCain has all but chosen Romney for his VP.

[donbl1]

Ice, the voters will not be thinking about Rev. Wright because, unfortunately, it will now be Clinton vs. McCain.

what a mess.

[samthetvcat]

PS Some other characteristics of successful business leaders:

- humility
- talent
- ability to respond to feedback

[samthetvcat]

--"Romney for his VP"--
Posted by donbl1

I liked Romney, but he''s got enough vulnerabilities to take him down if need be - corporate raider, bankruptcies, deregulator . . .

[samthetvcat]

PPS Also, mayb we should start looking at what markets that others now dominate we can start attacking and stealing market share . . . luxury cars, blackberries, televisions and electronics . . .

[mcv57]

Don''''''''t we Americans just LOVE the trickle down effect?

Gop/Republican policies in action!! Yea....

Posted by getcentered at 07:03 PM : Mar 19, 2008

Actually, this Republican Trickle-Down theory was Not Reagan''''s economy philosophy . . . it was Hoover''''s idealogy. Why Americans was fooled by this old political trick is beyond my comprehension. Reaganomics was Nazis Economics using credit for war machines; only difference is that Hitler siezed other countries to pay for the German debt. Reagan and the Bush family used the Taxpayer of the U.S.

[jwind11]

A lot of people will get no supper tonight,a lot of people will suffer tonight,

Posted by underdogus at 06:49 PM : Mar 19, 2008
+ report abuse

the same people that have not been having supper for years.....bush had nothing to do with it

[samthetvcat]

--"the same people that have not been having supper for years.....bush had nothing to do with it"--
Posted by jwind11

I guarantee you, the make-you-sick-to-your-stomach greedy corporate elite behind closed doors laugh at how they''ve been able to make money at other peoples expense with a ''let them eat cake'' mentality. Bush IS part of that set . . .

Actually, this Republican Trickle-Down theory was Not Reagan''''''''s economy philosophy . . . it was Hoover''''''''s idealogy. Why Americans was fooled by this old political trick is beyond my comprehension. Reaganomics was Nazis Economics using credit for war machines; only difference is that Hitler siezed other countries to pay for the German debt. Reagan and the Bush family used the Taxpayer of the U.S.

Posted by mcv57
----------------
I would respectfully suggest it''s older than Hoover. It''s the old "nobless oblige" thinking of Europe. Which has always told me something about the "Economic Royalists" that FDR spoke of...

[donbl1]

Trickle down is a political term coined by the Democrats many many years ago. It is not a theory.

It is kind of like Liberal has become a four letter word to some.

BTW, do not forget, Bush''s tax cuts eliminated taxes for the bottom 40% of working Americans. The only thing they pay is SS/Medicare.

Not sure how all the proposed tax cuts for the poor are going to work that have been espoused by Hillary and Obama. I guess we will now give them free cars and free houses since they do not pay any income taxes......

[donevis-2009]

donbl1- you blind, ignorant, idiot!! IT''S THE WAR. Billions daily!! We invaded for the oil that was supposed to pay for the war and it hasn''t worked out that way. We''ve borrowed ourselves in to a corner so we could show the world who''s boss and now there''s a margin call. Oh It''s the liberals fault!! Who''s been in power for the last 7 years? Wake up and smell the coffee. Your head is so full of spoon fed news your num headed. "God Speed USA"

[j-whitman]

Don,,,, What''s with your war against liberals ??? Since when have you been right on anything from terrorism & war to the economy ???? --- In 7 years all you''ve done was try to mask the problems.

[j-whitman]

Don,,,, If you are going to blaim anyone, blame those who have been in office for the last 7 years, the one''s directing the policies..

.. That would be you so called conservativess who''ve forgotten the meaning of the wrod conservative..... But be specific,, many conservatives are actually liberal

[jwind11]

That would be you so called conservativess who''''ve forgotten the meaning of the wrod conservative..... But be specific,, many conservatives are actually liberal

Posted by j-whitman at 08:54 PM : Mar 19, 2008

i seriously doubt anyone has forgotten the meaning of the "wrod".... nobody knows what "wrod" means to begin with

[mcv57]

Posted by hadenough43

Agreed, I limited my references to American politics.

[mcv57]

Posted by donbl1

On the contrary, your economic history books first labeled this economic policy (trickle down - whatever you want to label it) was Hoover''s endorsement - "let the economy take care of itself."

[mcv57]

Some conspiracy theorist believe that JP Morgan, Cargnie and alot of the rich elites actually staged the Crash of the October 29, 1929 - to gain full control of the financial American empire (true: capital monopoly reigned). Just like today. Nobody in Washington D.C. is exercising the Anti-Monoploy Acts.

[mcv57]

... last week Indonesia proclaimed its intention to close down their airlines (country can''t afford keep the industry solvent). Hmmmmmmmmm, sounds like mirror image (today, a major airline announced 30,000 employee - payout serverence). The oil is crashing the dollar.

[kissamaarse]

Support Fascism! Support the American taxpayer bail-out of Bear Sterns. But do not, do not support helping your neighbors, co-workers, friends and family who got nailed in the mortgage and credit crisis and over-extended themselves. Buy American, buy the corporate-controlled government way! Support Fascism in America.

[kissamaarse]

mcv57:
Gee, a thoughtful person. So, any coincidence that we turned over control of our money system to private enterprise at about the same time?

[naucoming4u]

Stupid is a formidable weapon, and ignorance is the seed.

Posted by cav_03 at 09:33 PM : Mar 19, 2008
..........

A quality education would allow the masses to question "the system" and be able to take actions to best correct it.

"The system" (our corporate owned government) does not want that to ever happen...

...so here''s another 100+ HD channels and even faster high speed internet!

Oh, and our media outlets will give you the latest news about Britney Spears and Linsay Lohan 24/7, guaranteed.

Enjoy!

[creeper00]

"A quality education would allow the masses to question "the system" and be able to take actions to best correct it."
Posted by NAUcoming4U at 09:42 PM : Mar 19, 2008

The opposite is happening. Our schools are churning out high school graduates who haven''t a clue how an economy functions. I think the corporations funding our politicians (including school board members) like it that way.

When I left high school I could figure compound interest. My son, who graduated five years ago, doesn''t even know what it is.

[nothappyatall]

"Sixty-six percent of Americans say the U.S. economy is now in recession"

LOL, they just NOW come to this monumental conclusion the rest of us have known (and predicted) for months now?
Have we not been saying for months that a recession is on the way, now don''t doubt it when it''s said a DEPRESSION like 1929 is very possible as well- the feds are rocketing us into the poorhouse with debt borrowed from China and a war costing $14 BILLION a month with NO end in sight.
Jobs are going overseas, the dollar has lost about 1/3 of its value, gas is over $3 a gal while diesel is $4, and all of this is going to be ''fixed'' by the bush regime with your stimulated $600 ''rebate''checks he said we should go out and SPEND- basically on Chinese made goods.

[mcvet]

Not to worry folks McSame promises to continue the same policies that took a balanced budget and a surplus and turned it into this mess. In addition, it seem''s he doesn''t know that Al Queda DOES NOT train in Iran so he''s probably going to add the cost of yet ANOTHER war to your bill... guess you folks will be working for war if he''s able to get you to hate the other guy''s bad enough. LOL We need to change course and do it very soon.

[schwarzzennegger]

It''s a pretty sad state of affairs... but Hey.. we''re winning the war in Iraq aren''t we ? ( just ask GWB, John McCain and *** Cheney )... and that''s what really matters isn''t it ?

[sharncedar]

The economy had never been better for the rich. They are doing better than they have ever done. Coca-cola is doing great - they are sponsoring the Chinese Olympics, having a great time, hey I bet the executives even get to shoot some Tibetans, more fun than hunting with Cheney.

Things have never been better for the big corporations and the rich. What are you people talking about. The banking bonuses on Wall Street this year were a new record, again, and the Fed just chipped in $400 billion or so of additional profits for Wall Street to enjoy.

Ask some of the people who matter how the economy is going, and they''ll tell it''s great. They are flying first class to London, buying new penthouse apartments here and there around the world. The real estate market for properties over $10 million is the best its EVER BEEN IN HISTORY right now, there is a boom going on, not a bust.

What are you people thinking? The economy is great for George Bush and Nancy Pelosi and their friends.

IT HAS NEVER BEEN BETTER. Do you really think its going to change? Do yuo really think they will do anything, when they are having the best economy in the history of the world, for the rich?

[neobrian-2009]

Ask Anybody?
Do people really think this war is a good idea?
Does anybody think our government can be trusted?
Does any anybody believe Bush when he talks ?

[lefeaoux]

"Sixty-six percent of Americans say the U.S. economy is now in recession"

LOL, they just NOW come to this monumental conclusion the rest of us have known (and predicted) for months now?
Have we not been saying for months that a recession is on the way, now don''''t doubt it when it''''s said a DEPRESSION like 1929 is very possible as well- the feds are rocketing us into the poorhouse with debt borrowed from China and a war costing $14 BILLION a month with NO end in sight.
Jobs are going overseas, the dollar has lost about 1/3 of its value, gas is over $3 a gal while diesel is $4, and all of this is going to be ''''fixed'''' by the bush regime with your stimulated $600 ''''rebate''''checks he said we should go out and SPEND- basically on Chinese made goods.
Posted by newster1 at 09:56 PM : Mar 19, 2008


Oh, the depression IS INDEED coming and it is going to make the 1929 depression look like "Romper-Room"! Everyone likes to blame it on Bush but that isn''t fair or correct. There are MANY reasons for it.

IT HAS NEVER BEEN BETTER. Do you really think its going to change? Do yuo really think they will do anything, when they are having the best economy in the history of the world, for the rich?

Posted by SharnCedar
--------------------
So what are the options - just give up?? I ain''t gonna do that. For five decades or so, I''ve been watching "my fellow Americans" buy this "lower taxes" BS from the repubs. And I''ve watched ''em buy it - every time!! But I ain''t gonna give up.

[randynason]

Bush is a traitor and a war criminal. Start impeachment proceedings, Congress. That process will help alleviate a lot of people''s anxiety, right there; seeing something good coming of something so very bad.

[lefeaoux]

Ask Anybody?
Do people really think this war is a good idea?
Does anybody think our government can be trusted?
Does any anybody believe Bush when he talks ?

Posted by neobrian at 10:27 PM : Mar 19, 2008

Yes! Sort-of. and for your last question ... YES, most of the time. But hey! You can go vote for Obama and let him and Reverend Wright persecute us all for trying to kill the black man with AIDS! Then again, you can go vote for Billary and stand in soup lines and be homeless when the economy disintegrates due to her actions.

[gulliver-]

Osama will give Obama a pardon?

[lefeaoux]

Actually, I shouldn''t be giving all you leftist - DEMS a hard time. I actually HOPE that Billary or Obama wins the election ... it will bring about the revolution quicker!

Ask Anybody?
Do people really think this war is a good idea?
Does anybody think our government can be trusted?
Does any anybody believe Bush when he talks ?

Posted by neobrian at 10:27 PM : Mar 19, 2008
-----------------------
That brings up another thing I''ve observed over 5 or so decades. It seems when "my fellow American" is given a choice as what they will believe between:

1 What is attractive, appealing, fits with their prconceptions, and what they want to believe.

or

2. The truth

"My fellow American" usually goes with option number 1.

[lefeaoux]

All you people who want "Change" and think we Repubs are wrong ... VOTE STRAIGHT DEMOCRAT. The change will come REAL SOON once we have a predominantly DEM Senate, Congress and President. Give them Carte Blanche and let em run with it. This country will fall to it''s knees almost over-night!