Optimism about the economy grows, but we're not out of the woods yet

According to Reuters, Americans are more optimistic about the economy and America's future since President Obama's ascension to the throne in January. Yesterday's New York Times/CBS News poll showed that two-thirds of those polled believe the president is performing well.

Digging into the numbers is a bit interesting, as it shows a less favorable view of the Republican Party. Sentiment toward the GOP has fallen to its lowest point in 25 years -- interesting, as it seems this is based mainly on the past president. Those who believe the country is headed in the wrong direction dropped to 53 percent from 79 percent. Interesting, as this is almost glossed over in the article. Fifty-three percent is more than half, correct?

Furthermore, only 20 percent of those polled believe the economy is getting better. I have a major problem with the optimistic slant put on the Reuters article (and it isn't just because I am a Republican), as it would lead one to believe that the economic picture is rosy and everything is fine.

Want further proof that the situation isn't much better? Take the poll in the middle of the article: 61 percent of those taking the poll say they are "making it," while 26 percent are struggling. By my University of Cincinnati math, that is 88 percent of those responding (more than 10,000 as of this is written-- which may be more than the New York Times/CBS News poll) that are scraping by or doing worse. Furthermore, 58 percent of those responding to the question about the next six months were pessimistic or neutral.

Don't get me wrong, the situation may be looking up. But let's not lose sight of the fact that the situation is not good. Also, I don't think this is the time to be pulling party politics into the economy. Let's find out who screwed up (on either side of the political aisle, because I feel there are both Republicans and Democrats who got us into this mess) and then perhaps President Obama can take a break from walking on water to get all parties focused on getting us out of this hole.

At last check, the Dow Jones Industrial Average was more than 150 points lower as earnings season looms. I think these reports will be far more important than the political game of "pin the tail on the wrong party" that is taking place.


Increase your money and finance knowledge from home

Investor’s Toolbox

Improve your investing savvy with the right financial toolset.

View Course »

Introduction to Economic Indicators

Measure the performance of the economy.

View Course »

Add a Comment

*0 / 3000 Character Maximum