1 in 4 Pessimistic About Finances

The future of the American economy—at least in the short view—continues to look grim. According to a new Associated Press–GfK poll, only one in four Americans is optimistic about their chances of improving their financial situations in the next year. This negativity does not bode well for President Obama’s popularity, as just 46 percent of those surveyed said they approve of how he has handled the economy, while 52 percent do not. Even fewer people have faith in the government as a whole, with 7 percent saying they trust Washington to do right “just about always.” Two thirds of those questioned said they trust the federal government “some of the time,” while 11 percent don’t at all. As the sequester budget cuts start to kick in, people are growing wary of spending their money.