Public views of the national economy are now more negative than at any point in nearly 15 years, and few people believe that the kind of stimulus plan being devised by President Bush and Congress is enough to stave off or soften a recession, according to a new Washington Post-ABC News poll.More than eight in 10 Americans describe the economy as “not so good” or “poor,” and nearly six in 10 believe the United States is already in a recession. While voters appear more sanguine about their own circumstances, three in 10 are now pessimistic about their financial prospects over the coming year, double the percentage holding a dour outlook in December 2006.The new poll, conducted January 30-February 1, shows how thoroughly the souring economy has overtaken the war in Iraq as the electorate’s principal concern. Thirty-nine percent of all Americans now cite the economy and jobs as the No 1 issue in the presidential campaign, up 10 percentage points in the past three weeks; more than twice as many people now highlight the economy as call Iraq the top issue. No other concern reaches double digits.These assessments follow months of steadily worsening news about the economy that could bring the country full circle to the downturn that took hold at the beginning of the Bush administration in 2001. A financial crisis that began in the US markets over home mortgage defaults has steadily spread since last fall, and on Wednesday, the first day of the Post-ABC poll, the government reported that the nation had experienced its weakest period of economic growth since 2002.Only 19 per cent of Americans now rate the nation’s economy positively, the fewest to say so since June 1993, when the Clinton administration was grappling with a struggling economy. On the eve of the last midterm elections, 55 per cent assessed the state of the national economy as “excellent” or “good.” Now, about nine in 10 Democrats and independents give the economy a negative review; nearly two-thirds of Republicans agree.But the Post-ABC poll suggests little confidence that recent government plans will have the intended effect. Only about three in 10 think government checks of several hundred dollars to most workers, and new corporate incentives, will be enough to avoid or mitigate a recession; two-thirds doubt it will work.Bush continues to receive poor marks for his handing of the economy, with only 30 percent approving of his performance. His overall approval rating of 33 percent has been virtually unchanged for a year and brings his string of sub-50 percent approval ratings to nearly two years.Congress fares little better in the public’s eye. Overall, 33 percent approve of the way Congress is doing its job, but slightly fewer disapprove of Congress than give the president low marks. And while majorities disapprove of how both congressional Democrats are Republicans are performing, more approve of the Democrats (39 percent to 30 percent for the Republicans).In general, the Democrats are preferred over the Republicans on six of the seven major issue areas tested in the new poll, including the economy, the federal budget deficit and taxes.The poll was conducted by telephone among a random national sample of 1,249 adults; the results from the full sample have a margin of sampling error of plus or minus three percentage points.
