50 percent of young Americans pessimistic about country’’s financial future

July 19th, 2008 - 5:26 pm ICT by ANI  

New York, July 19 (ANI): A new survey has found that Americans aged between 18 to 29 are the most pessimistic age group when it comes to the nation’’s financial outlook.
Nearly half of Generation Y claims that America was a better place to live in the 1990s and will continue to spiral downward.
Twenty-nine percent think the nation’’s best days have passed, while 58 percent reported that they had to borrow money last year.
According to the Time/Rockefeller Foundation poll released on Thursday, some 52 percent of all the respondents said that they have lost faith in the American Dream, while 85 percent believe the country is on the wrong track.
Minority groups had an even more pessimistic view. Almost all African Americans who were surveyed, about 96 percent, expressed dissatisfaction.
Almost twice as many Americans are worried about their economic stability than a year ago - 47 percent up from 24 percent. And 72 percent feel less secure today than they did 10 years ago, compared with 63 percent who said so in 2007.
As dark financial clouds thicken, people are looking for Uncle Sam to come to their rescue, the poll found. (ANI)

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