(CNN)- More than half the nation believes the economy is in a recession or depression according to a new Gallup survey, despite White House assurances that the economy is growing.
The Thursday poll reveals that 26 percent of Americans say the economy is in a recession and 29 percent say it is in a depression on the same day that Austan Goolsbee, chairman of the Council of Economic Advisers, released a statement saying the economy posted the "seventh straight quarter of positive growth."
Goolsbee confirmed that faster growth is needed to replace jobs lost during the economic downturn, but remains encouraged by the "continued expansion" of the economy, as measured by an increase of the total amount of goods and services produced in the country, otherwise known as the GDP.
Though the advance estimate of gross domestic product reflects an increase of consumer spending boosted by payroll tax cuts during the first quarter of the year, some Americans don't seem to be feeling the economic love. Roughly one-quarter say the economy is growing.
Confidence in the economy is also split along party lines. Democrats are divided on whether the economy is expanding, since 43 percent say it is in a recession or depression and 42 percent believe that it is growing. Republicans are not so positive-almost 7 in 10 describe the state of the economy as being in a recession or depression.
The Gallup survey was conducted nationwide among 1,013 adults by telephone from April 20-23. It has a sampling error of plus or minus four percentage points.
I've been retired since 2004 and haven't looked for a job, don't plan on looking but someone is always asking me to come to work for them. The jobs are out there, people just need to take them and stop being selective until you get what you want.
The world is always a beautiful, safe, prosperous, utopia when viewed through rose colored glasses inside the White House. They really ought to see the real world through the eyes of the ordinary people that are fighting for survival.
"Republicans are not so positive-almost 7 in 10 describe the state of the economy as being in a recession or depression. "
So republicans are too stupid to know what is a recession or a depression. Plain and simple. We are not in a recession. We have high unemployment because we are GETTING OUT of a severe recession, thanks to the Stimulus Act. How moronic can you be? And frankly, it's a minority that is doing poorly. Since Obama has been in office my wife and I have slashed our debt in half (in part thanks to credit card reforms and lower taxes) and have just purchased our first home. Thanks Obama and Democrats!!
So basically 55% of people dont understand the definition of the terms recession and depression. Now I understand how republicans get votes from anyone who isnt a millionaire. Its because non-millionaire GOP voters are stupid and proud of it.
That's because most imbeciles out there don't undertand what "recession" and "depression" mean. When you ask "is the economy in a recession?" all they hear is "is the economy really bad?" Do a poll in which you provide the definition of a "recession" and ask the same question and you'll get a vastly different result.
Because the jobs have been permanently eliminated and replace in 3rd World Sweatshops or Commie China. It's time to take the gloves off and get serious about bringing American jobs back to American soil for American citizens. Stop playing dumb and fix the real problem please.
26 plus 29 say we are in a recession or worse. hmmm, that is 55% of this country which is about the right number of idiot conservatives and so-called libertarians, and right leaning independents. just proves that the 45% of us liberals and some independants are the only ones that are aware of what is really going on in the world.
Depends on where in the economic spectrum you sit how you feel about the economy. Those in the upper echelons are going gang busters, while the rest, e.g. the poor and soon-to-be-poor (middle class) are still hurting.
My Bible says you reap what you sow. How are those who voted for republicans last election digging the fruit they are harvesting?? Union busting...kill medicare...corporate welfare...corporations contributing to campaigns...voter suppression...racism...unemployment...oil companies raping the American people ($10B profits for Exxon in Q1!!)...etc
Hey! Who do you think will pay for your mom/dad's or grandparent's healthcare when the Ryan Plan becomes law? LOL. Be careful what you wish for.........
The NASDAQ hit it's highest level since 2000 yesterday. I'm not too sure how that happens if we are still in a recession. Most big companies are turning a profit again but not hiring. Unemployment is really the only thing driving people's opinion but people have to realize that the president doesn't create jobs. His job is to make the environment favorable for hiring, which it is, compnaies just need to start hiring again.
The White House believes the economy is growing. If you want to see how this ends, read Orwell's 1984. This is pure Obamaspeak.
Oil is the main pain for all...just solve it....do energy efficient cars...more and in a mass production...then fix public transportation...
So the economy has been in a positive recovery for seven straight quarters huh....? What a bunch of crock!
[Poll: Americans have economic growing pains]
Yup, the Americans that are practically going insane
Because MOST feel the prices on EVERYTHING higher
While paychecks/raises are suffering from Alzheimer's
The RICH, however, don't feel a thing
They are buying homes, yachts and diamond rings
Saving those tax cuts that they definitely don't need
They feel GREAT – don’t they? While the middle class BLEED!!!
I haven't had a raise in 3 years; already UNDERPAID and also had to give up 2% of my income last year!!! I PAY TAXES – GE didn't!!! That is the PAIN Americans like me feel!!