by Chris Black
How could you be “not pessimistic” about the US economy?
Like, what is even the plan here?
Nearly seven in 10 Americans hold negative views about the US economy and two-thirds say inflation is outpacing their wages, according to a stunning survey published Tuesday.
A total of 69% say they are downbeat about the country’s financial shape now and in the future, the highest percentage in the 17-year history of the CNBC All-America Economic Survey.
For context, pessimism about the current and future economy stood at 37% in April 2021 and rose to 68% in July 2022, roughly tracking with a spike in annual inflation from 4.2% in April 2021 to a four-decade high of 9.1% in June 2022.
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The survey also found that 57% predicted a recession will happen in the next year, with 9% saying the US was in one already.
A full 67% of Americans think their wages are falling behind the cost of living, while another 26% said they were staying about even and just 5% said their salaries were outrunning inflation.