The public is overwhelmingly pessimistic about the country’s economic future, a recent poll found.
Nearly two-thirds said the country is headed in the wrong direction, while 53% said that they expect the economy to get worse next year, a poll from the Wall Street Journal found. The responses were heavily skewed in a partisan direction — 83% of Republicans said they expect the economy to worsen, along with slightly more than half of independents, while only 22% of Democrats said they believed the economy would worsen.
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INFLATION BEGINS TO COOL, BUT ECONOMIC PAIN NOT OVER
“I just think we are headed toward a recession and it could be a pretty big one,” poll participant David Rennie, a 61-year-old retired executive with the Boy Scouts of America from Shelton, Connecticut, who identifies as a Republican, told the outlet. “Interest rates are skyrocketing and that’s going to take us down.”
But despite the apparent optimism from Democrats, most participants were willing to admit that signs of a worsening economy abound.
“I’ve seen a drastic contraction in what people are willing to spend,” Kendra Lewis, a 38-year-old Democratic business consultant and entrepreneur from Fayetteville, Georgia, said. “When entrepreneurs are scared to invest and expand, that trickles down to a lot of other things in the economy.”
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The results are also skewed by age. Roughly 6 in 10 of those between the ages of 18 and 34 expect the economy to worsen next year, while roughly 4 in 10 of those 65 and older hold such a pessimistic outlook.
Impact Research and Fabrizio, Lee & Associates conducted the poll with the help of the Wall Street Journal, polling 1,500 registered voters with a margin of error of plus or minus 2.5 percentage points.
