Contact: Jeremy Rosen
jrosen@pgpf.org
The November 2021 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 45 (100 is Neutral)
NEW YORK (November 23, 2021) — With rising concerns about inflation and its impact on America’s unsustainable budget outlook, and as Congress advances major legislation, U.S. fiscal confidence fell to its lowest level since September 2014, according to the nonpartisan Peter G. Peterson Foundation’s newest monthly index. The Fiscal Confidence Index, modeled after the Consumer Confidence Index, is 41 (100 is neutral), indicating that voters across party lines are deeply concerned about our nation’s fiscal outlook and what it means for our economic recovery.
Nearly 8 in 10 voters (79%) say their concern about the national debt has increased, with 62% believing leaders are on the wrong track addressing the issue — the highest percentage this year. Nearly three in four voters (73% agree/20% disagree) say that the national debt should be a top-three priority for the president and Congress, including 65% of Democrats (26% disagree), 68% of independents (20% disagree), and 87% of Republicans (10% disagree).
“This seven-year low in our fiscal confidence index is a clear sign that voters are concerned about our nation’s fiscal sustainability, and Congress should keep this in mind as they shape major budget legislation,” said Michael A. Peterson, CEO of the Peterson Foundation. “The Congressional Budget Office finds that the bill is not fully paid for, and worse yet it is riddled with budget gimmicks that can hide its true cost. Amid rising concerns about inflation and our overall economic recovery, lawmakers have an important opportunity to make this bill more sustainable and responsible, to lessen the burden our growing debt places on 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 1,000 registered voters nationwide, surveyed between November 15, 2021 and November 17, 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? |
November 2021 | October 2021 | September 2021 |
Increased a lot | 52% | 55% | 50% |
Increased a little | 27% | 27% | 29% |
Decreased a little | 5% | 4% | 5% |
Decreased a lot | 3% | 4% | 3% |
(No change) | 9% | 6% | 9% |
(Don't Know/Refused) | 5% | 4% | 3% |
INCREASED (NET) | 79% | 83% | 79% |
DECREASED (NET) | 7% | 7% | 8% |
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? |
November 2021 | October 2021 | September 2021 |
Right direction — Strongly | 11% | 15% | 14% |
Right direction — Somewhat | 21% | 21% | 22% |
Wrong track — Somewhat | 21% | 22% | 22% |
Wrong track — Strongly | 47% | 37% | 37% |
(Neither/Mixed) | 1% | * | 1% |
(Don't Know/Refused) | 5% | 4% | 5% |
RIGHT DIRECTION (NET) | 32% | 36% | 35% |
WRONG TRACK (NET) | 62% | 59% | 59% |
PRIORITY (30) | |||
---|---|---|---|
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? |
November 2021 | October 2021 | September 2021 |
Strongly agree | 49% | 55% | 52% |
Somewhat agree | 24% | 24% | 25% |
Somewhat disagree | 13% | 11% | 12% |
Strongly disagree | 7% | 6% | 6% |
(Don't Know/Refused) | 7% | 5% | 5% |
AGREE (NET) | 73% | 79% | 77% |
DISAGREE (NET) | 20% | 16% | 18% |
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? |
November 2021 | October 2021 | September 2021 |
A lot more time | 50% | 55% | 50% |
A little more time | 28% | 27% | 32% |
A little less time | 7% | 8% | 6% |
A lot less time | 5% | 4% | 5% |
(The same amount of time) | 4% | 3% | 3% |
(Don't Know/Refused) | 6% | 4% | 5% |
MORE TIME (NET) | 78% | 82% | 81% |
LESS TIME (NET) | 12% | 12% | 11% |
EXPECTATIONS (56) | |||
---|---|---|---|
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)? |
November 2021 | October 2021 | September 2021 |
Much better | 8% | 13% | 10% |
Somewhat better | 16% | 17% | 14% |
Somewhat worse | 27% | 26% | 31% |
Much worse | 41% | 40% | 38% |
(No change) | 3% | 2% | 3% |
(Don't know/Refused) | 5% | 4% | 5% |
BETTER (NET) | 23% | 30% | 24% |
WORSE (NET) | 68% | 65% | 69% |
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? |
November 2021 | October 2021 | September 2021 |
Very optimistic | 6% | 11% | 8% |
Somewhat optimistic | 31% | 31% | 30% |
Somewhat pessimistic | 27% | 28% | 30% |
Very pessimistic | 29% | 25% | 26% |
(Neither/Mixed) | 2% | 2% | 2% |
(Don't Know/Refused) | 4% | 3% | 4% |
OPTIMISTIC (NET) | 37% | 42% | 38% |
PESSIMISTIC (NET) | 56% | 53% | 56% |