Americans Dissatisfied Most with Economy: Gallup

The United States economy is expected to be a major theme of President Barak Obama’s State of the Union address Tuesday night. CNN reports that sources who have seen a draft of the speech said it will offer, in part, a "blueprint for an economy that's built to last."

For many Americans, the economy has broken down and is the source of the greatest dissatisfaction with the state of union, according to a new Gallup poll. Of the just over 1,000 adults ages 18 and over randomly surveyed Jan. 5-8, 83 percent are dissatisfied with the nation’s economy. Satisfaction with the United States economy has dropped by 23 percentage points since January 2008, and represents both the lowest rate of satisfaction and the biggest decline seen for any of 24 issues measured in the survey, Gallup said.

Other issues with which respondents registered significant dissatisfaction include the nation’s efforts to deal with poverty and homelessness (70 percent), the size and scope of power of the federal government (69 percent), the nation’s moral and ethical climate (68 percent) and immigration (64 percent).

On the plus side, more than three-quarters (76 percent) said they are satisfied with the overall quality of life, while seven-in-10 are happy with the nation’s security from terrorism and military strength and preparedness.

Another new Gallup poll released Tuesday in advance of the State of the Union speech finds confidence in the U.S. economy in negative territory (at -25), down from -23 a year ago. But this is up from -29 the prior week and the highest reading since May 2011.

Investors surveyed in the last two months by Millionaire Corner express muted optimism toward the jobs market, but not enough to raise optimism toward the direction of the economy. Forty percent said they expect the unemployment rate to stay the same over the next six months while 39 percent say it will decreases. Just over 21 percent said it will increase. But 57 percent do not believe the economy will improve over the next six months.

Recent gas price increases, a European economy that appears to be heading toward recession and an election year that promises policy and partisan tensions are not likely to bolster confidence in the weeks and months ahead.