Contact: Jeremy Rosen
jrosen@pgpf.org
The January 2021 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 49 (100 is Neutral)
NEW YORK (January 26, 2021) — As the new presidential administration and congressional leadership begin to address an ongoing set of complex national challenges, voters remain concerned about the $27.8 trillion 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 49 (100 is neutral), indicating that Americans understand that America’s unsustainable fiscal outlook is a growing challenge for the future.
Nationwide, voter concern about the national debt is five points higher in January 2021 than a year ago, and 23 points higher than in January 2017 when former president Trump took office.
There is bipartisan agreement that addressing the national debt should be a top-three priority for President Biden and the Congress, including 70% of voters nationwide, 63% of Democrats, 64% of independents and 83% of Republicans.
“With the nation still in the grips of a devastating public health and economic crisis, President Biden and the new Congress are right to explore additional relief and recovery legislation, but it’s also critical that we remain mindful of our long-term fiscal outlook, which has gotten far worse as our debt now exceeds the size of our economy,” said Michael A. Peterson, CEO of the Peterson Foundation. “Once we overcome this pandemic, policymakers should work together to address our rapidly deteriorating fiscal trajectory. Doing so will not only strengthen our economy, but ensure we have resources for important investments that can increase preparedness, opportunity and prosperity for all Americans.”
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 1,007 registered voters nationwide, surveyed between January 18, 2021 and January 21, 2021. 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 (41) | |||
---|---|---|---|
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 2021 | December 2020 | November 2020 |
Increased a lot | 48% | 45% | 41% |
Increased a little | 28% | 27% | 32% |
Decreased a little | 5% | 7% | 8% |
Decreased a lot | 4% | 4% | 5% |
(No change) | 9% | 11% | 10% |
(Don't Know/Refused) | 6% | 7% | 5% |
INCREASED (NET) | 75% | 71% | 73% |
DECREASED (NET) | 10% | 11% | 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 2021 | December 2020 | November 2020 |
Right direction-Strongly | 10% | 10% | 10% |
Right direction-Somewhat | 22% | 19% | 21% |
Wrong track-Somewhat | 28% | 28% | 30% |
Wrong track-Strongly | 32% | 35% | 33% |
(Neither/Mixed) | 2% | 1% | 1% |
(Don't Know/Refused) | 6% | 7% | 5% |
RIGHT DIRECTION (NET) | 32% | 28% | 31% |
WRONG TRACK (NET) | 60% | 63% | 63% |
PRIORITY (32) | |||
---|---|---|---|
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 2021 | December 2020 | November 2020 |
Strongly agree | 43% | 43% | 40% |
Somewhat agree | 27% | 27% | 26% |
Somewhat disagree | 16% | 15% | 20% |
Strongly disagree | 6% | 7% | 7% |
(Don't Know/Refused) | 7% | 8% | 7% |
AGREE (NET) | 70% | 70% | 66% |
DISAGREE (NET) | 23% | 22% | 27% |
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 2021 | December 2020 | November 2020 |
A lot more time | 42% | 43% | 43% |
A little more time | 35% | 34% | 35% |
A little less time | 8% | 7% | 6% |
A lot less time | 4% | 4% | 4% |
(The same amount of time) | 2% | 3% | 5% |
(Don't Know/Refused) | 9% | 8% | 6% |
MORE TIME (NET) | 77% | 77% | 77% |
LESS TIME (NET) | 12% | 12% | 11% |
EXPECTATIONS (74) | |||
---|---|---|---|
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 2021 | December 2020 | November 2020 |
Much better | 10% | 11% | 10% |
Somewhat better | 23% | 20% | 22% |
Somewhat worse | 25% | 25% | 29% |
Much worse | 36% | 36% | 32% |
(No change) | 2% | 2% | 2% |
(Don't know/Refused) | 5% | 6% | 5% |
BETTER (NET) | 33% | 31% | 33% |
WORSE (NET) | 61% | 61% | 60% |
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 2021 | December 2020 | November 2020 |
Very optimistic | 9% | 9% | 7% |
Somewhat optimistic | 35% | 36% | 41% |
Somewhat pessimistic | 28% | 28% | 27% |
Very pessimistic | 21% | 18% | 17% |
(Neither/Mixed) | 2% | 2% | 3% |
(Don't Know/Refused) | 5% | 6% | 5% |
OPTIMISTIC (NET) | 44% | 44% | 48% |
PESSIMISTIC (NET) | 49% | 47% | 44% |