Economic Worries Continue: 39% See Things As Getting Worse

November 14, 2012, 5:00 PM GMT+0

(Week of 11/10/2012) As President Obama looks toward the beginning of his second term, Americans’ attitudes about the economy continue to be decidedly more pessimistic than optimistic — more in the latest Economist/YouGov Poll are still convinced that the economy is getting worse then think it is getting better.

Just 29% say things are getting better — though there is a great divide based on politics. 64% of Obama supporters believe the country’s economic situation is improving, while 79% of Romney supporters believe it is worsening. Those kinds of political divisions are not uncommon in American economic evaluations, although this level of polarization is extreme.

There is concern about the economic future with Barack Obama as President. Half the country says government spending will increase in the next few years. 54% expect their taxes to rise. But those high negative numbers are largely fueled by those who voted for the losing candidate last week. Nearly nine in ten Romney supporters expect government spending to rise and their own taxes to increase. But some Obama voters agree: 25% of those who supported the President think government spending will rise in the next few years and 32% believe their own taxes will go up.