(CNN) - Nearly three-quarters of all Americans think the economy is in a recession, according to a national poll released Monday.
Seventy-four percent of those questioned in a CNN/Opinion Research Corp. survey say the economy has entered a recession.
That figure is up from 66 percent who felt that way in a similar survey last month. The number stood at 61 percent in January and 46 percent in October. (Full poll results [PDF])
The federal reserve is the only legal (i use that term loosely) entity that can print money. If they lend us money with an interest rate, and they are the only ones that can print money, the only way to pay them back is to borrow more money from them....at interest. The value of the dollar goes down, and obviously the more we borrow the faster it goes down. Put the blame on the president, congress, ourselves, but based on this system the dollar will inevitably fall anyway.
I call this a much-needed correction. America is so addicted to subsidized, artificial low prices that they think cheap gas, cheap food, and McMansions they can't afford are a right. They're not. This is the reality check we all need to set this country on a solid and resposible economic track.
Everytime we get a republican in office we have economic problems. Anyone remember the even/odd gas days under Nixion? Remember the loss of just about all tax deductions under Reagan? The prime interest rate under Reagan was over 9%. The Gulf war under Bush Sr. that should have been finish then. Of course, the current Bush who is totally and completely responsible for this whole mess today. We need Hillary to clean up this mess. The stock market will surge when she is the nominee. The fear of Obama being the next President, is part of the uncertainty in the economy. I got out of the stock market when Obama won Iowa. I also got out when it started to look as if Gore might lose. Swithched everything to Government securties, then got back in later. See, I've been around awhile, people need to realize the nominee has a lot to do with confidience.
Ron Paul is the only candidate running who understands the economy. Subsidies, lowering interest rates, and bailing out companies that made bad decisions is not the answer.
We have eliminated research and development, we have eliminated manufacturing, we have outsourced support, we have imported cheap labor, we have allowed corporations to make 80 billion dollars in a quarter only to reap huge bonuses and stock dividends, we have extended credit to those who could not from the beginning even think of paying the loan only to grab a comission and run to the next victim, and now that we are caught with our hands in the cookie jar, we are suprised that we are in a recession ?
Your joking right ?
Wolf you guys in media have been reporting things that are not necessary to the american people. Intead of focusing on the economy, war in Iraq you decided to talk about florida & michgan re-vote what clinton said and so on. People are tired of this kind of politics. It is not surprising to me what the media is doing all they care is rating what ever it takes. makes me sick
The rest are Brain Dead. Recession is just the beginning. America is bankrupt.
Duh! Seems like George Bush is the only one who doesn't have a clue – but then again he never did.
Either there is nobody in this administration who has knowledge of economics, or they are purposely setting us up for collapse. The best course of action due to the mismanagement of the past several years, is to go through a 2-5 year recession, and manage it so as not to come in extreme blows. This "growth at all costs" plan is ludicrous, and will soon result in food and fuel riots.
Yes, and put McCain in and you'll learn what a depression is.
Duh... ya think? The dollar is at it's lowest point in years. Foreclosures are at their highest in years. Financial institutions are failing. We have increasing numbers of people who are either unemployed or underemployed (8+%). You don't have to be a rocket scientist to figure that one out. Only politicians are debating that one and they're not giving it a lot of play.
Why the Democrats haven't gone back to "It's the economy, stupid" is beyond me. They need to bring this to the forefront of the campaign. Then they need to lay out detailed policies outlining what they will do about these issues and more. Of course, maybe they have. If it won't fit into a sound bite, the news organizations won't cover it. If it's not salacious, sordid or divisive, they won't cover it. So how would we know?
We are NOT in a recession. Take a look at the Carter years. Thank heavens for Reagan.
Hillary can NOT bring jobs back.
This is a capitalist Country. NOT communism or socialism. Of course. if it was up to her it would be.
Not to diminish the numbers or anything, but I'm pretty sure 3/4 of Americans can't spell the word recession. Now if they had polled economists, then maybe the numbers might mean something.
... and in the "DUH" department...
It's ok. After the PIPE DREAM of Hillary comes to an end, we can have true leadership in Obama and get this fixed. Despite Bill Cltinon's total betrayal, perhaps we will offer Barack a few ideas on creating the kind of surplus that Bush managed to mow through.
The Bush administration functions like a septic tank, its kept full of right wing flangeheads which help the fascist big chunks rise to the top. Give the economy a courtesy flush, vote Democrat...............
We aren't all spoiled rotten Americans. some of us work really hard and it is difficult to save unless one makes lots of money. It's the governments fault when it does nothing to control some of its own outlandish spending – it eventually trickles down, like the war.
onlythebeginning....I agree with everything you wrote but you failed to mention this insane war and the incredible debt attached...No, unfortunately, no-one is joking.
I got all my stock in companies that make bullets and we are makin a fortune.
Can she fix it??
Yes she can !!
If you don't make alot of money...is that your fault or the government's fault???
if you choose to spend the little money you do make by living outside your means and accruing debt....is that your fault or the government's fault???
You have the same opportunities as everyone else to go to apply yourself and go to college and make yourself more competitive for a better job.
You have the same opportunity as everyone else to invest in a 401k or Roth IRA or mutual fund or money market account, etc...
Regardless of how much the government spends on National Defense (which is directly responsible for allowing you to live freely in the most prosperous nation on the planet)...The government is not responsible for bailing you out of your self-induced economic woes.
There's a recession if you think there's a recession. Get it? Stop thinking that way and live your life. Trust in something bigger than yourselves and everything will be fine.
Who cares about Bush? Let's vote for McBush and pretend things will change. Right.
Oh really, let's see now, I guess you weren't as smart as you'll thought you were lol!!!!!
Hmmmmm, interesting.........you know, there's a lot of things going on right now in our country. I don't know about you but I call those complications. You know, is kind of like "problems" but tougher or "don't make sense". Yep, those are the kind of problems that doctors try to fix.........but unfortunately, we're trying to fix them! LOL!!!
I get surprise everyday......
I think a more important poll question would be – who knows what a recession actually is – because it's pretty obvious 75% of Americans don't have a clue. We are not in a recession....yet. And even if we do go into recession, guess what – we usually have one or two every decade. The world isn't going to implode – get a grip.