Rasmussen...
What They Told Us: Reviewing Last Week’s Key Polls
Saturday, June 25, 2011 

Americans appear more pessimistic about the economy than they have been in months and also express little confidence that their elected leaders will do anything about it. 

The Rasmussen Investor Index, which measures the economic confidence of investors on a daily basis, slipped seven points on Friday to its lowest level in nearly two years. Just 21% of investors now say U.S. economic conditions are getting better. Fifty-five percent (55%) say conditions are getting worse. 

The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell four points on Friday and is now less than one point above its 2011 year low. Twenty percent (20%) of consumers think the economy is getting better, while 56% believe it is getting worse. 

The COUNTRY Financial Security Index® dropped in June, in part because confidence in retirement has reached an all-time low. Just 51% of Americans believe they will have enough money to enjoy a comfortable retirement, the lowest percentage since the inception of the COUNTRY Index in February 2007. The drop also marks a consistent decline since October 2010. 

Overall confidence in housing values among homeowners has plummeted. Just 45% now say their home is worth more than what they currently owe on their mortgage. That’s the lowest level measured in more than two years of regular tracking. Prior to the latest survey, this finding had ranged from a low of 49% to a high of 61% since late 2008. 

Confidence that buying a home is the best investment a family can make also has fallen to a new low. Forty-seven percent (47%) of American Adults say buying a home is the best investment a family can make. Prior to the current numbers, this finding had ranged from a low of 51% to a high of 73% since September 2008. 

But even as Congress wrestles with ways to reduce the crushing national deficit and get the economy going again, voter approval of the national legislature’s job performance has fallen to a near five-year low. Only eight percent (8%) of Likely U.S. Voters think Congress is doing a good or excellent job.  Fifty-two percent (52%) rate Congress’ performance as poor. 

Still, Republicans hold a six-point lead over Democrats – 43% to 37% - on the latest Generic Congressional Ballot. The GOP has led on the generic ballot since June 2009. 

At center stage for Congress these days is the debate over raising the federal government’s debt ceiling. Republicans refuse to raise it without significant spending cuts; Democrats say failure to raise the debt ceiling will be a serious blow to the economy. Voters strongly agree that failing to raise the debt ceiling is bad for the economy. But most see a failure to make significant cuts in government spending as a bigger long- and short-term threat than the government defaulting on the federal debt. 

The Republican-controlled House of Representatives recently passed a bill that slashes spending on food safety and nutrition programs, but most Americans say reducing the deficit is more important than increasing food safety inspections. Besides, they’re confident that their food is safe. 

Most voters (53%) also continue to support repeal of the national health care law, as they have every week but one since Congress passed it in March of last year. The House earlier this year voted to repeal the law, but that effort has stalled in the Democratic-controlled Senate. Now Republicans hope to stop the law by not funding the portions they object to. 

Voters appear to be increasingly aware that serious budget-cutting will require changes in some of the biggest political sacred cows. The majority of voters now understand that most of the federal budget goes to just three areas – defense, Social Security and Medicare, but they still want to vote on any changes to the ones that directly impact their retirement. Interestingly, while Medicare and Social Security are big helps to most retired Americans, one-third of voters don’t care much for either of the long-standing government programs. 

Protecting the environment is a concept most Americans embrace, but just 47% of voters have a favorable opinion of the Environmental Protection Agency. Nearly as many (45%) view the regulatory giant unfavorably. However, only 25% think the EPA should be abolished, even though 51% believe protecting jobs is more important than protecting the environment. 

President Obama on Wednesday announced that the United States will withdraw 10,000 troops from Afghanistan this year and will bring another 23,000 home by the end of next summer. But most voters don’t think the president has gone far enough. Fifty-one percent (51%) of voters want all U.S. troops out of Afghanistan within a year, with 31% who want an immediate troop withdrawal and another 21% who want a firm timetable for full withdrawal within one year. 

Voter perceptions of the president’s leadership skills remain relatively stable. Forty-four percent (44%) view the president as a good or excellent leader, while 36% rate his leadership as poor. This is in line with the president’s ratings over the past two years. 

At week’s end, the Rasmussen Reports daily Presidential Tracking Poll found that 46% of voters at least somewhat approve of the president’s performance. Fifty-three (53%) at least somewhat disapprove. 

For the fourth week in a row, a generic Republican candidate holds a very slight advantage over the president in a hypothetical 2012 election matchup. 

Most voters (61%) are still angry at the media, although they’re less convinced that the majority of reporters are biased in favor of Obama. But voters continue to think most reporters are politically biased and tend to view them as more liberal than they are. 

Alabama this month became the latest state to authorize routine police checks of immigration status and to require employers to verify that those they hire are in this country legally. Voters remain strongly in favor of tougher enforcement in both areas. While most voters still support a welcoming immigration policy, they also continue to firmly believe that border control should be the nation’s top immigration priority. 

Read it with links at Rasmussen