50% of the US Says Their Financial Situation is Getting Worse

by Mike ‘Mish’ Shedlock
The Street

A Gallup poll on personal finance shows a record high percentage believe their finances are worsening.

Please consider U.S. Personal Finances: Future More Concerning Than Present

By 50% to 35%, Americans say their financial situation is getting worse rather than getting better, marking a sharp reversal from last year. Significantly more Americans also thought their finances were getting worse rather than better in April 2008, toward the beginning of the Great Recession.

Currently, 49% of Americans describe their financial situation as either “excellent” or “good.” A year ago, 56% rated their finances positively. The decline has been entirely offset by an increase in the percentage saying their situation is “only fair.” The 15% of Americans describing their financial situation as “poor” is the same as last year.

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