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Economy

Many Americans anxious about economic futures despite robust growth: poll

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2018-11-20 08:03:34Xinhua Editor : Gu Liping ECNS App Download

Many Americans are anxious about their economic futures, as more than three in four Americans worry that today's children will be "worse off" than their parents, and nearly two thirds of voters are concerned about saving for retirement, a recent poll has shown.

The findings were part of a study, conducted by Expedition Strategies and commissioned by the left-leaning Progressive Policy Institute, and surveyed 1,090 voters from across the political spectrum before the midterm election.

The survey found that Americans feel relatively confident about their current circumstances, with 18 percent of voters ranking "jobs and economic growth" as one of their top three priorities for Congress. The U.S. economy grew by 3.5 percent in the third quarter, and has seen the lowest unemployment rate in decades.

But voters were less "sanguine" about their children's prospects, the study said. Some 77 percent worry that today's children will be worse off than their parents, and there also seem to be concerns about keeping up with future expenses. Some 63 percent of voters are worried about saving for retirement, 72 percent say their taxes are "too high," and large majorities worry about health care costs and drug prices.

The team also noted that they found "sharp" partisan differences in priorities and outlook, but have also discovered an "electorate hungering" for process on crucial issues, which is far more pragmatic about the solutions than either the extreme left or right is currently calling for.

On a related note, a new study on U.S. Millennials released Monday by Ernst &Young LLP showed the group remain uncertain about their economic future as they manage high levels of student debt and costs of living. The study said Millennials continued to be risk averse, demonstrated in behaviors such as delaying home ownership, marriage and new business endeavors.

"These new findings show that while Millennials feel more stable economically, they aren't convinced this stability will last. They have weathered three recessions in their lifetime, and few have confidence the economy will stay strong," the study said.

  

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