WASHINGTON (CNN) – Americans are losing confidence in their ability to keep their current standard of living, a new national poll indicates.
Thirty-nine percent of people questioned in a CNN/Opinion Research Corporation survey released Thursday morning say they're very confident they'll be able to maintain their standard of living over the next year. That's down 6 points from last year.
Half of all homeowners with a mortgage say they are very confident that they can continue to meet their mortgage payments, but that is also down, by 8 points, since last year. Americans' confidence in their ability to pay other debts, such as credit cards and car loans, has also dropped in the past year.
And there is much less confidence in being able to save for specific goals. Only one in four parents of children younger than 18 say they are very confident in their ability to pay for college. And only one in five Americans who have not already retired say they are very confident in their ability to save enough to retire comfortably.
Had you received a lump sum stimulus payment, we would have been more in debt to China. By receiving a small percentage, based on your income... we don't have to repay it.
This article should be retitled "WORKING Americans Fear Losing Their Quality of Life".
Those not working? Well, now they're getting a tax cut, right?????
And they should be worried. The great part is, the ones most worried, are the same ones who elected the very same socialists that will take it away from them.
Americans need to come off our high horse and start living within our means.
We need to get the old fossils and socialists out of Congress & Whitehouse however if we expect any improvement to America. I'm an old fossil so can state the aforementioned fact.
Frederick> You got it! We are a very materialism society. It's about time we woke up!
What the heck is everyone so afraid of!? The way some people are commenting on here...I picture you foaming at the mouth! Sheesh. Listen, Obama won the presidency. You have a Black president. He's not a Socialist, or a Marxist, or a Communist, or whatever the buzz word of the week is this time. He's actually pretty pragmatic and middle-leaning-left. If he weren't Black would you all be freaking out so much? Doubtful. I don't like to play the race card, but come on.
Trickle down failed. Laissez-faire failed. Time for all the John Galts to go away and let the grown-ups handle the economy.