High unemployment, astronomical, public and private debt, several bubbles, stagnant wages and rising cost of living. In the United States, it’s quite difficult to attain the American Dream, but these days it’s likelier for millions of citizens to live in an economic nightmare.
According to the new CNBC All-America Economic Survey, the nation’s viewpoint on the overall economy is quite bleak and it has remained that way since even prior to the economic collapse.
The survey found that 81 percent view the economy as either just fair or poor, pretty much unchanged from the fourth quarter of 2013. Experts say that it’s an improvement from the 95 percent held at the height of the Great Recession. Nevertheless, it’s still substantially low, especially considering that only 17 percent of Americans maintain a positive view on the economy.
Expectations are heading into positive territory. The study found that 29 percent say the economy will improve within the next year, but another 30 percent feel as if the economy will worsen in that same time span.
Many Americans expect their wages and housing prices to inch higher. The data indicates that respondents project their wages to increase 2.2 percent, down from 3.3 percent in the fourth-quarter survey. Housing prices, meanwhile, will get a boost of two percent within the next year.
Other findings include: 48 percent are aware of bitcoin; 47 percent believe raising the minimum wage will reduce poverty; and3 1 percent support Obamacare compared to 44 percent against
The survey was conducted with 800 American adults between Mar. 13 and 16. It contained a margin of error of +/- 3.5 percentage points.