Since mid-March we have seen Americans’ confidence in their financial future vary. The poll we conducted the second week of June shows a wide variance between each of the groups as well. Both African-Americans and Caucausians appear to have a much better outlook than they did in late May. Asian-Americans and Latinos have become discouraged since late May. Asian-Americans had the largest drop at 12 index points while African-Americans had the largest increase with 10 index points. Americans are less confident now than they were in March.
But the rising confidence among Caucasians and the recovery of confidence among African-Americans does give some hope that the tides will change in the next survey. This question reflects Americans’ confidence in their economy, not just their personal financial situation. Obama’s job approval polled at 59 percent in the most recent Gallup poll, his lowest since taking office. If this lack of confidence in the economy continues people will become much more sensitive to tax increases and more critical of where their increasingly scarce dollars are going.
Brad Chism is president of Zata3 Communications, a one-to-one communications company based in Washington, DC, serving a national client base of Democratic candidates and progressive organizations and interest groups. For more information about Zata3 and ZataPulse polling, click here. To see all posts on the survey results, click here.