Contact: Jeremy Rosen
jrosen@pgpf.org
The January 2020 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 47 (100 is Neutral)
NEW YORK (January 31, 2020) — As the country enters an era of trillion-dollar annual deficits, Americans hold deep concerns about the national debt, according to the Peter G. Peterson Foundation’s monthly Fiscal Confidence Index. The January Fiscal Confidence Index, modeled after the Consumer Confidence Index, is 47 (100 is neutral), indicating that voters want their leaders to prioritize progress on the nation’s fiscal challenges.
A report earlier this week from the Congressional Budget Office (CBO) projected that the deficit will exceed $1 trillion this year, and stay above that mark for the foreseeable future. This month’s Fiscal Confidence Index shows that voters hold deep concerns about our nation’s deteriorating fiscal condition, with a majority saying our country is on the wrong track in addressing the debt, and that they believe the debt will get worse. Voters across the political spectrum agree that addressing the debt should be among the top three priorities for the president and Congress, including 75% of Democrats, 79% of independents and 82% of Republicans.
“As the 2020 election begins, Americans are looking for leadership and solutions to our growing debt problem,” said Michael A. Peterson, CEO of the Peterson Foundation. “America has many pressing needs, but incurring trillion-dollar deficits will only make it more difficult for us to invest in our own future. The federal government is already spending a staggering $1 billion per day on interest costs, which does nothing to solve the important challenges we face as a nation. There’s no better time than this campaign season for a conversation between candidates and voters about ways to manage the debt and build economic growth and opportunity for the next generation.”
The Fiscal Confidence Index measures public opinion about the national debt by asking six questions in three key areas:
The survey results from these three areas are weighted equally and averaged to produce the Fiscal Confidence Index value. The Fiscal Confidence Index, like the Consumer Confidence Index, is indexed on a scale of 0 to 200, with a neutral midpoint of 100. A reading above 100 indicates positive sentiment. A reading below 100 indicates negative sentiment.
Fiscal Confidence Index Key Data Points:
The Peter G. Peterson Foundation commissioned this poll by the Global Strategy Group and North Star Opinion Research to survey public opinion on the national debt. The online poll included 1,013 registered voters nationwide, surveyed between January 20, 2020 and January 23, 2019. The poll has a margin of error of +/- 3.1%. The poll examined voters’ opinions on the national debt, political leadership, and America’s fiscal and economic health.
Detailed poll results can be found online at: www.pgpf.org/FiscalConfidenceIndex.
The Peter G. Peterson Foundation is a nonprofit, nonpartisan organization that is dedicated to increasing public awareness of the nature and urgency of key fiscal challenges threatening America's future, and to accelerating action on them. To address these challenges successfully, we work to bring Americans together to find and implement sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results. To learn more, please visit www.pgpf.org.
CONCERN (46) | |||
---|---|---|---|
Thinking about our national debt over the last few years, would you say your level of concern has increased or decreased? ◊ Is that a lot or just a little? |
January 2020 | December 2019 | November 2019 |
Increased a lot | 39% | 42% | 43% |
Increased a little | 36% | 30% | 31% |
Decreased a little | 7% | 9% | 9% |
Decreased a lot | 4% | 5% | 4% |
(No change) | 8% | 9% | 10% |
(Don't Know/Refused) | 6% | 5% | 4% |
INCREASED (NET) | 75% | 72% | 74% |
DECREASED (NET) | 11% | 13% | 13% |
When it comes to addressing our national debt, would you say things in the United States are heading in the right direction or do you think things are off on the wrong track? ◊ Do you feel that way strongly or just somewhat? |
January 2020 | December 2019 | November 2019 |
Right direction-Strongly | 14% | 13% | 12% |
Right direction-Somewhat | 21% | 22% | 22% |
Wrong track-Somewhat | 24% | 26% | 29% |
Wrong track-Strongly | 34% | 34% | 33% |
(Neither/Mixed) | 1% | 1% | 1% |
(Don't Know/Refused) | 6% | 5% | 4% |
RIGHT DIRECTION (NET) | 35% | 34% | 34% |
WRONG TRACK (NET) | 58% | 60% | 62% |
PRIORITY (17) | |||
---|---|---|---|
Some people say that addressing the national debt should be among the president and Congress' top 3 priorities. Do you agree or disagree? ◊ Do you feel that way strongly or just somewhat? |
January 2020 | December 2019 | November 2019 |
Strongly agree | 50% | 52% | 50% |
Somewhat agree | 28% | 25% | 26% |
Somewhat disagree | 12% | 12% | 14% |
Strongly disagree | 2% | 3% | 3% |
(Don't Know/Refused) | 7% | 8% | 7% |
AGREE (NET) | 78% | 77% | 76% |
DISAGREE (NET) | 15% | 15% | 17% |
And when it comes to our national debt, do you think it is an issue that the president and Congress should spend more time addressing or less time addressing? ◊ Would you say a lot (more or less) time or just a little? |
January 2020 | December 2019 | November 2019 |
A lot more time | 52% | 49% | 48% |
A little more time | 33% | 32% | 36% |
A little less time | 4% | 6% | 6% |
A lot less time | 2% | 4% | 4% |
(The same amount of time) | 2% | 2% | 2% |
(Don't Know/Refused) | 7% | 6% | 5% |
MORE TIME (NET) | 85% | 81% | 84% |
LESS TIME (NET) | 6% | 10% | 10% |
EXPECTATIONS (79) | |||
---|---|---|---|
And thinking about our national debt over the next few years, do you expect the problem to get better or worse? ◊ Is that much (better or worse) or just somewhat (better or worse)? |
January 2020 | December 2019 | November 2019 |
Much better | 11% | 8% | 8% |
Somewhat better | 22% | 17% | 18% |
Somewhat worse | 27% | 34% | 31% |
Much worse | 29% | 31% | 34% |
(No change) | 2% | 3% | 2% |
(Don't know/Refused) | 8% | 7% | 7% |
BETTER (NET) | 34% | 25% | 25% |
WORSE (NET) | 56% | 65% | 65% |
And when it comes to our national debt, are you optimistic or pessimistic that the United States will be able to make progress on our national debt over the next few years? ◊ Would you say you are very (optimistic or pessimistic) or just somewhat? |
January 2020 | December 2019 | November 2019 |
Very optimistic | 9% | 8% | 7% |
Somewhat optimistic | 35% | 31% | 34% |
Somewhat pessimistic | 31% | 35% | 35% |
Very pessimistic | 17% | 18% | 17% |
(Neither/Mixed) | 3% | 2% | 2% |
(Don't Know/Refused) | 5% | 6% | 5% |
OPTIMISTIC (NET) | 44% | 39% | 41% |
PESSIMISTIC (NET) | 48% | 54% | 52% |