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Americans Pessimistic on What the Economic Future Holds

2 years ago
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Substantial majorities of Americans are pessimistic about the prospects that the economy will ever return to what it was before last year's financial crisis, according to an Allstate/National Journal/Heartland monitor poll conducted Sept. 24-28.

Sixty-three percent say they expect a big change in the way the economy will look while 31 percent expect it to again follow old patterns.

But while that number is down from the 70 percent who expressed overall pessimism in July, the figures remain high when those polled are asked their outlook on specific measures of economic security.

Nearly eight in 10 say it is more likely that "average families will suffer economic reversals like losing a job or facing foreclosure." Nearly seven in 10 say that young people starting out on their careers now "won't achieve as high a standard of living as my generation did." Six in ten say the economy will experience "more-severe cycles of boom and bust than in previous decades." Just under six in 10 say it is unlikely that "the standard of living for people like me will grow more rapidly than it has in recent decades."

On a different issue, the poll found that 49 percent of Americans support current legislation to reform health care compared to 42 percent who do not.

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