Oct 11, 2008 7:41 am US/Eastern
Poll: 60% Say Govt. Cannot Fix Economic Crisis
CBS4/SurveyUSA Reveals 3 In 4 Americans Have Cut Back On Their Spending
MIAMI (CBS4) ―
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Consumer, money, graphic
AP
The economic conditions in the country have continued to deteriorate in the last week, but according to a new
CBS4/SurveyUSA most Americans believe they understand what is going on with recent economic events.
Almost 80 percent said they understand what is happening to the economy. 56 percent also agreed with the notion that it's fair to term what has happened to Wall Street this week as a "crash."
The polling on the economic pinch felt by homeowners produced an interesting split. 43 percent said they do not worry about making mortgage payments. But, almost 75 percent say they worry "a little, or a lot" about falling behind on the rent.
52 percent said they worry a little, or a lot, about the possibility of losing their job. When it come to banking, most of those surveyed said they have not changed how or where they keep their money to make it more safe.
3 in 4 Americans said they have cut back on their spending in light of the current economic downturn/stock market "crash." However, 52 percent said they have cut back on their spending a by less than 20 percent.
Finally, one of the things that over 60 percent of the respondents agreed upon was that they have "no confidence" in the government's ability to fix the economy.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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