New Poll Is Revealing

A recent poll by The Pew Research Center for the People and the Press, an independent opinion research group that studies attitudes toward the press, politics and public policy issues, reveals that Americans' "Economic Discontent Deepens as Inflation Concerns Rise."

Growing Rich-Poor Divide in Affording Necessities

Summary of Findings

Public views of the U.S. economy, already quite negative, have plummeted since January. Just 17% currently rate the nation's economy as excellent or good, down from 26% last month. The percentage of Americans rating the economy as "poor" has increased even more dramatically, from 28% to 45% in one month.

Moreover, there has been a modest rise in the proportion of Americans who view their own finances negatively, though personal financial ratings continue to be more positive than opinions of the overall economy. A majority of Americans (53%) now say their financial situation is only fair or poor, up from 49% in January.

Fully 58% of the public says that their incomes are falling behind the rising cost of living. This compares with just 44% who expressed this view in September 2007. And the impact of the real estate slump is becoming apparent to American homeowners. The percentage of homeowners reporting that their home has increased in value during the past few years has fallen from 84% in October 2006 to 67% currently.

The survey also suggests, inadvertently perhaps, that China has become a source of anxiety for many Americans. While the commentary accompanying the results detailed below makes much of the gain in the United States' economic standing since 1989, odds are that the emerging Asian superpower's dramatic rise from nowhere to second place over the same span has set the stage for a more powerful -- and more hostile -- response, especially in Washington.

Click here to see the complete survey results.