70% Of Americans See The Economy Getting Worse


1. Nearly 70% of Adults See Economy Worsening

2. Half of US Companies Planning To Cut Jobs

3. 98 Million Americans Delaying Healthcare

Overview – Most Americans See Economy Getting Worse

President Biden denies the US economy is in a recession despite the fact that we just endured two consecutive quarters of negative GDP growth, which many consider the classic definition of a recession. Now a new poll finds that almost 70% of Americans believe the economy is getting worse. What more does the Biden administration need?

Making matters worse, a new survey of business leaders around the country found that over 50% are planning to cut their workforce in the weeks and months ahead. Others are planning hiring freezes for at least the rest of this year. So, while we saw a hiring frenzy earlier this year, most CEOs are pulling in their horns.

And finally, nearly 100 million Americans are delaying getting the healthcare they need, largely due to soaring inflation. According to a new Gallup poll, 98 million Americans have put off needed healthcare as they struggle to afford food, gas, energy and other household items. That is over one-third of all adults, so this is truly sad.

One bright spot is the Atlanta Federal Reserve Bank’s GDPNow indicator, which tracks GDP on a weekly basis. It shows the economy is still in slightly positive territory at +1.6% (annual rate) for the 3Q so far. Let’s hope it stays that way!