A new Wall Street Journal study reveals consumer confidence is sagging again, but this time Obama’s not to blame.
The study, which the Wall Street Journal conducted in conjunction with NBC News, found the bulk of pessimism was due to rising gas and food prices, while a stunning 64% claimed President Obama was either “not responsible” for the current economic mess or only “somewhat responsible.”
Nearly 70% of Americans claimed they’d been significantly effected by the increase in gas prices. Meanwhile, more than a third of respondents said their economic situation had gotten worse in the last year, while only 20% claimed their situation had actually improved.
Nearly 40% of Americans take the conservative view that cutting federal spending will help the economy, while 31% believe federal spending is actually helping the economy long-term.
Finally, 46% believe there should be less government interference in business – a belief that reflects the mass deregulation of the aughts that many feel contributed to the recession in the first place.
Source: “$4-a-gallon gasoline contributed to Growing Pessimism on Economy,” by Neil King, Wall Street Journal, 6/6/11.