Technically, the so-called “Great Recession” ended in June 2009. So does it feel like an “economic recovery” to you? Fortunately for many Utahns – in part due to the generally conservative public policies put in place by Utah policymakers – the answer is “yes.”
But if you are one of those who answer “no,” then you’re like the rest of the country.
According to a recent Pew survey, 83 percent of Americans view the national economy as “fair” (43 percent) or “poor” (40 percent). By contrast, only 16 percent describe the economy as “excellent or good.” Additionally, 71 percent say either that “the economy is not recovering yet, but will recover soon” (31 percent) or that “it will be a long time before the economy recovers” (40 percent).
Further, more people say that they expect economic conditions will be worse a year from now (32 percent) than better (25 percent). What’s more, these numbers have declined dramatically since last year (44 percent “better,” 14 percent “worse”), meaning that people have become more pessimistic about the economy the longer the current “recovery” has gone on.
The economic realities that these views represent – the human costs behind these economic perspectives – are even less comforting. According to the survey, a larger portion of America today (42 percent) reports having trouble getting or paying for medical care, having problems paying the rent or the mortgage, or having lost a job than reported having these problems during the recession (35 percent in 2008 and 37 percent in 2009). That’s correct: Almost four years into the “economic recovery,” self-reported financial conditions have actually gotten worse for Americans more often then they’ve gotten better. Sadly, low-income Americans have been hit the hardest by today’s poor economic conditions with fully 60 percent of those with family incomes of less than $30,000 experiencing one or more of these serious financial hardships.
I have previously written about how the liberal economic policies of the current presidential administration are killing job opportunities, especially for low- and middle-income families. This survey only confirms that liberal economic policies are failing Americans.
Want to know what an “economic recovery” looks and feels like when it is based solely on liberal economic policies, such as short-term government “stimulus” spending, tax hikes, and wealth redistribution? Just look around you.