While the talking heads on financial TV continue to spout the idea that the economy is improving, the latest CNN/Opinion Research Corporation survey reveals that Americans are suffering, with 80% saying the economy is poor.
People are worried about unemployment first and foremost because while the headline unemployment rate is 9%, the real unemployment rate, including discouraged workers and part-time is double that. Hearing Hampton Pearson announce that non-farm payrolls increased 244,000 in April doesn’t give solace to the one in five that can’t find work.
The budget deficit has people concerned along with $4 a gallon gas, taxes, and the cost of housing.
More than half say it’s George W. Bush’s fault and a third pin the blame on the current president.
Ben Bernanke and the Fed are not cited in the CNNMoney.com report as being mentioned by the disgruntled 80%.
Neither the late Osama bin Laden or Muammar Gaddafi were blamed either.
