Most Americans predict economic struggles, political conflict in the U.S., and international chaos in 2023.
- Democrats are more optimistic than Republicans, reflecting historical trends of partisans being more optimistic when their party is in the White House.
WHY IT MATTERS – Economic sentiment is often a self-fulfilling prophecy. Expectations of economic struggles can lead people to pull back spending, which can lead to a recession.
PREDICTIONS – A recent Gallup poll revealed the following about Americans’ expectations for 2023:
- 90 percent predict political conflict
- 85 percent predict international discord
- 81 percent predict taxes will rise
- 79 percent predict economic difficulty
- 78 percent predict the federal budget deficit will increase
- 73 percent predict that China’s power will increase
- 72 percent predict rising crime rates
- 65 percent predict prices will rise at a high rate
- 64 percent predict American power will decline
BOTTOM LINE – Americans expect 2023 to be a lot like 2022.
GO DEEPER –