Contact: Sarah Stipicevic, Press Secretary
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January 2013 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 40 (100 is Neutral), Indicating Strongly Negative Public Sentiment — Down from 52 in December
Only 1% of Respondents Say Fiscal Cliff Deal Fixed the Long-Term Debt Problem 91% of Americans Say More Action is Needed
87% of Respondents Want Fiscal Issues to be a Major Topic in State of the Union Address
NEW YORK — Americans are increasingly concerned about the nation's long-term debt and pessimistic about Washington's ability to make progress in addressing the debt, according to the Peter G. Peterson Foundation's latest Fiscal Confidence Index, a monthly measure of public attitudes about the nation's long-term debt and the efforts elected leaders are making to address the debt.
The January 2013 Fiscal Confidence Index, modeled after the Consumer Confidence Index, is 40 (100 is neutral), indicating strongly negative public sentiment about America’s fiscal situation. Sentiment has declined since December, when the Fiscal Confidence Index was 52.
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.
"The January Fiscal Confidence Index makes clear that Americans remain very concerned about our nation's fiscal path,” said Michael A. Peterson, President of the Peter G. Peterson Foundation. "The Fiscal Confidence Index shows that Americans are under no illusion that our debt problems are behind us. The fiscal cliff deal did not significantly improve our long-term fiscal outlook, and Americans know that much more must be done to address our fiscal challenges. The increasing pessimism and uncertainty reflected in this survey are not good for the economic recovery. Our economy desperately needs a boost of confidence, and a comprehensive fiscal plan that shows America is on a stable path would do just that."
Fiscal Confidence Index Key Data Points:
Fiscal Issues Should Feature Prominently in State of the Union
Following the New Year's agreement to avert the fiscal cliff, and as the President and a new Congress prepare for upcoming budget deadlines, the Peterson Foundation also polled Americans on their views about the fiscal cliff agreement and their desire for the President to make fiscal issues a priority in his upcoming State of the Union address.
The Peter G. Peterson Foundation commissioned the poll by the Global Strategy Group to survey public opinion on the national debt. The nationwide poll included 1,007 U.S. registered voters, surveyed by telephone between January 14 and January 17, 2013. 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/what-we-are-doing/education-and-awareness/fiscal-confidence-index
About the Peter G. Peterson Foundation
The Peter G. Peterson Foundation is a nonprofit, nonpartisan organization established by Pete Peterson — businessman, philanthropist, and former U.S. Secretary of Commerce. The Foundation is dedicated to increasing public awareness of the nature and urgency of key long-term 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.
APPENDIX: Fiscal Confidence Index Methodology and Questions
CONCERN (32) | |||
---|---|---|---|
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? |
Jan. 2013 | Dec. 2012 | |
Increased a lot | 60% | 51% | |
Increased a little | 21% | 25% | |
Decreased a little | 4% | 7% | |
Decreased a lot | 2% | 3% | |
(No change) | 12% | 12% | |
(Don't Know/Refused) | 1% | 2% | |
INCREASED (NET) | 81% | 77% | |
DECREASED (NET) | 7% | 10% | |
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? |
Jan. 2013 | Dec. 2012 | |
Right direction-Strongly | 9% | 17% | |
Right direction-Somewhat | 19% | 23% | |
Wrong track-Somewhat | 17% | 14% | |
Wrong track-Strongly | 44% | 36% | |
(Neither/Mixed) | 7% | 5% | |
(Don't Know/Refused) | 5% | 5% | |
RIGHT DIRECTION (NET) | 28% | 39% | |
WRONG TRACK (NET) | 60% | 51% |
PRIORITY (12) | |||
---|---|---|---|
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? |
Jan. 2013 | Dec. 2012 | |
Strongly agree | 71% | 71% | |
Somewhat agree | 18% | 18% | |
Somewhat disagree | 4% | 4% | |
Strongly disagree | 3% | 4% | |
(Don't Know/Refused) | 3% | 4% | |
AGREE (NET) | 89% | 89% | |
DISAGREE (NET) | 7% | 7% | |
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? |
Jan. 2013 | Dec. 2012 | |
A lot more time | 68% | 66% | |
A little more time | 19% | 20% | |
A little less time | 4% | 5% | |
A lot less time | 3% | 1% | |
(The same amount of time) | 3% | 4% | |
(Don't Know/Refused) | 3% | 3% | |
MORE TIME (NET) | 87% | 87% | |
LESS TIME (NET) | 7% | 7% |
EXPECTATIONS (96) | |||
---|---|---|---|
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)? |
Jan. 2013 | Dec. 2012 | |
Much better | 9% | 14% | |
Somewhat better | 21% | 30% | |
Somewhat worse | 21% | 16% | |
Much worse | 40% | 31% | |
(No change) | 4% | 2% | |
(Don't know/Refused) | 5% | 6% | |
BETTER (NET) | 31% | 44% | |
WORSE (NET) | 61% | 47% | |
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? |
Jan. 2013 | Dec. 2012 | |
Very optimistic | 19% | 23% | |
Somewhat optimistic | 29% | 32% | |
Somewhat pessimistic | 18% | 13% | |
Very pessimistic | 30% | 26% | |
(Neither/Mixed) | 3% | 2% | |
(Don't Know/Refused) | 2% | 3% | |
OPTIMISTIC (NET) | 48% | 55% | |
PESSIMISTIC (NET) | 47% | 40% |