Most Americans are cynical about country's economy
Majority of Americans were pessimistic about the U.S. economy than they have been in the last six years, a new poll shows.
When given four choices -- economic recovery, stagnation, recession, or depression -- to describe the U.S. economy, 51 percent of the respondents believed the United States is in a "recession" or "depression," according to the Suffolk University/USA Today poll.
The poll, released on Sunday, was the first of the kind in which a majority of Americans were negative on the economy in the last 18 polls dating back to 2016.
This signaled a marked negative shift in the perceptions of the economy, USA Today said.
According to the poll, 57 percent of the respondents disapproved of President Joe Biden's job performance, and 58 percent disapproved of his handling of the economy.
This comes even as the U.S. trade deficit soared to record levels in 2021, reaching $859.1 billion. The deficit was at $676.7 billion in 2020, highlighting America’s ongoing reliance on imports made in foreign factories.