Despite repeated reassurances over the past year that the economy is in recovery and that things are getting better, Americans as a whole seem to think otherwise. Several recent surveys of citizens indicate that Americans are taking an increasingly pessimistic view about the nation's future.
Rasmussen, for example, reports that over 60% of Americans believe that the country is headed in the wrong direction. In addition, according to a survey by AlixPartners, a business advisory firm, 61% of citizens believe that it will take 3 more years for a full recovery to be realized, and 10% believe the economy is so bad that it will never recover. The latter figure has increased since last year.
Earlier this week, this writer reported that due to growing and widespread pessimism among economists and market experts concerning U.S. spending, debt, and recession, the stock market took a tumble. That trend continued throughout the week.