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Confidence drops in U.S. economic policy: Reuters poll

John Whitesides

Wednesday, July 16, 2008

Public confidence in U.S. economic policy dipped this month as unstable markets and shaky financial institutions left Americans uneasy about the future, according to a Reuters/Zogby poll released on Wednesday.

The Reuters/Zogby Index, which measures the mood of the country, dropped to 88.7 from 90.4 in June as five of the 10 measures of public opinion used in the index fell at least slightly and three remained steady.

The index fell to near its record low of 87.7, recorded in March, as optimism about personal finances waned and approval ratings for the Bush administration’s economic and foreign policies dropped.

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The rating for economic policy suffered the sharpest fall, earning positive marks from just 10 percent of Americans — down 4 percentage points from June.

The drop came amid a continuing housing crisis, pledges of government help for the top two mortgage finance agencies and the collapse last week of IndyMac Bancorp — the third-largest bank failure in U.S. history.

Full article here [1]