(Gallup:) Upper-Income Americans' Economic Confidence Shaken (First time since 2008)

Gallup ^ | September 13, 2011 | Dennis Jacobe

[markomalley]

Upper-income Americans' economic confidence was badly shaken in August, with 80% saying the economy is "getting worse," up from 66% in July. This is the first month since the financial crisis of late 2008 and early 2009 that upper-income Americans are more pessimistic about the future direction of the U.S. economy than other Americans.

[econjack]

Upper-income Americans' economic confidence was badly shaken in August, with 80% saying the economy is "getting worse," up from 66% in July.

Kind of a "you-can-fool-some-of-the-people..." thingie. Obozo's stupidity is catching up to him...

[RayChuang88]

The combination of the downgrading of US sovereign debt and the continuing European sovereign debt crisis sent the stock market on a wild up and down ride back in August, which scared the economic confidence of everybody. No wonder why the chances of Obama winning a second term--even if he spends US$1 billion on the re-election campaign--doesn't look good.

[alice_in_bubbaland]

They finally realized Obummer is coming after their $250,000 + incomes.

[Mustang Driver]

We’re screwed.

[silverleaf]

I can’t imagine how anyone with any significant investments or savings is optimistic?

First your retirement and savings accounts get whacked in Sep-Oct 2008

You try to nurse it back in a totally irrational illogical roller coaster stock market and now... whacked again, as Jug Ears stands in the Rose Garden and brays about tax increases and the GOP RINO establishment talks about being cordial and cooperative

And then, there is real estate...

As a sideshow Europe sinks faster into the rot of its post Cold War decadence

the Middle East turns into one big jihadist camp with our troops in the middle of it not allowed to shoot at anyone and make them mad

Russia smirks at obama

and China goes on a world shopping spree for vassal states

yeah...I feel real optimistc

[proxy_user]

If you turn to page 2, ‘upper income’ is defined as over $90K. This would be the top 20% of households.

[alice_in_bubbaland]

LOL! That’s for sure!

[Buckeye McFrog]

translation: if this class-warfare crap actually pays off for Barry they’ll be coming for me like armed robbers with badges.

[LibLieSlayer]

obama wants all wealthy Conservatives to die... his billionaires are exempt.

LLS

[TheWriterTX]

After catastrophic medical bills whiped out our savings and left us with a mountain of debt, and a prolonged medical condition impacted my ability to work full time, we lived lean and mean for many years.

Our saving grace was our two biggest nest eggs. One got slammed in 2008, cut to almost half of what it was. The other, thankfully, is still plugging along.

Together, my husband and I make just under $100K. After taxes, raising 3 kids(who are outgrowing clothes every six months and shoes every 3), addressing all the deferred maintenance on our house that we didn't have the money for, car repairs, and husband out on disability this year, we still have nothing in the bank. Years of "putting off till next year" caught up with us - HVAC, water heater, washer/dryer, fence, roof, all went. $20K out this year alone.

If anyone thinks we are living large over here, they have not walked in our shoes. It took us years to get out from under the debt. We cut ever corner possible; haircuts at home, shopping at thrift stores, building our own furniture, baking at home, no vacations, very few family outings, no "toys."

We will need another year or two, at least, to get back to real saving again. Am I optomistic we are going to make it? No. Will we survive? Yes, we always find a way.

Rich? Give me a break!

[newzjunkey]

Obama's gunning for incomes of $200K (individual) and $250K (family) in his "American Jobs Act" along with waring on charities so government becomes further entrenched as the social safety net.

They also know the Bush-Obama tax rates are expiring in 2013 and Obama's committed to seeing them expire so they "pay their fair share."

They also know ObamaCare has tax hikes in it.

If they have a working brain cell, their confidence should be shaken!

[proxy_user]

The only thing Pew is claiming is that you are in the top 20% of households by income. Nobody said you were rich.

[TheWriterTX]

I hear ya, Proxy. But the way the media talks, I should be rolling in a BMW and dripping with diamonds.

Sorry, didn't mean to direct my frustration at your, my friend. Was venting at the MSM and our corrupt FedGov.