Are Americans Pessimistic about the Economy?

by Kerby Anderson, Point of View: After two weeks of convention speeches and an ongoing political campaign, you might think that we are living in the worst economy since the Great Depression. And you would probably also assume that the average citizen is terribly pessimistic about the future. But recent polls show that while Americans may be pessimistic about the economy and the country, they are relatively optimistic about their own economic circumstances.

Karlyn Bowman of the American Enterprise Institute has looked at recent polls and has concluded: “Most Americans are feeling pretty good about their jobs and personal lives.” She finds that 76% of Americans are actually optimistic about the direction of their lives and personal economic situations. This is intriguing since only 18% are optimistic about the country.

The August 2008 Gallup poll shows that 48% are completely satisfied with their jobs and another 42% are somewhat satisfied with their jobs. OK, so maybe they are satisfied about their jobs. What about the possibility that the job they love will be sent overseas? After all, both liberal and conservative commentators complain about outsourcing of jobs. Apparently, the typical American is not worried about this, at least not for his or her job. Only 8% worry about their jobs being outsourced to foreign competitors.

So what do Americans worry about? Two words: gas prices. Three-quarters of Americans in the July Gallup survey blame high gas prices for their financial challenges. By contrast, eight years ago only 40% listed gas prices as their major economic concern. So on one hand, Americans are optimistic about their personal economic situation while they are also pessimistic about the economy and the government. Why the disconnect? Karlyn Bowman says: “The relentless negativity of the media.” To that I might add the negative campaign speeches. It seems to me that the American people are looking for some economic optimism from the media and the candidates. I’m Kerby Anderson, and that’s my point of view.

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