Malaise Is Back!
Only 32 percent of Americans believe they are better off today than they were three years ago, according to the results of a new CNN/ORC poll. Meanwhile, a new Bloomberg poll puts that number even lower – at 27 percent.
The CNN/ORC poll also found that 72 percent of Americans are “angry” about the current direction of the country, while 71 percent are “scared.” According to the Bloomberg poll, 72 percent say the U.S. economy is headed in the “wrong direction” – with only 9 percent of Americans saying that they are “confident” the country will avoid another recession.
Both polls were conducted last weekend – prior to the U.S. Census Bureau releasing new data showing a decline in U.S. income levels and record increases in poverty.
Amazingly, though, the CNN/ORC poll found that more people trust U.S. President Barack Obama to handle the economy than Republicans in Congress – a sign of just how frustrated voters are with the leaders of both parties.
In 1979, former U.S. President Jimmy Carter gave a nationally-televised address in which he referred to America’s “crisis of confidence.”
“It is a crisis that strikes at the very heart and soul and spirit of our national will,” Carter said.
Although he never used the word in his remarks, Carter’s address was quickly christened “the malaise speech.”
Based on these numbers, it looks like the “malaise” is back ….