Poll: Americans not overly concerned about debt downgrade
Many Americans are unperturbed by the debt downgrade that sent the Dow Jones industrial average plunging, CNNMoney reported.
After Standard & Poor’s downgraded the United States’ credit rating by one notch to AA+ from AAA, stocks tumbled more than 5.5 percent yesterday – the second major sell-off since last Thursday. Though economic concerns about the downgrade of the U.S. debt are widespread, many Americans appear to be largely unaffected by how it will impact their own finances.
According to a CNN/ORC International survey released on Monday, 45 percent of Americans said the stock market’s decline in recent weeks did not affect their family’s financial position at all.
Rather than selling stock, more Americans say cutting back is their preferred reaction as fears of a double-dip recession persist.
In a less-positive measure, 75 percent of the 1,008 people surveyed said things are going “pretty badly” or “very badly” in the country today, tied for the highest level since April of 2009. The most recent poll in May had that measure at only 60 percent.
To read the full CNNMoney article, click here.
To see the poll results, click here.