Poll: people cutting back on spending, gifts
A new Quinnipiac University survey provides some gloomy statistical evidence to back up the anecdotes and the chatter around the water cooler. As the recession bites deeper, people are going to spend less on holiday gifts, vacations and leisure activities such as movies and meals out.
The national poll of 2,210 registered voters released today finds dissatifaction at an all-time high, with 82 percent saying they are somewhat or very dissatisfied and just 16 percent satisfied with the way things are going in the nation today, and 95 percent of people saying the economy is "not so good" or poor. Half say they are worse off financially than a year ago compared with just 27 percent who are better off and 22 percent who report no change.
People are worried about their own prospects. Nearly a third say they fear losing their job, and another third fear they won't be able to afford their retirement.
And most people say they are cutting back on spending or will do so. A total of 39 percent even say they will cut back on heating or cooling their homes to economize, against 58 percent who will not. And 48 percent say they'll cut back on charitable giving while an equal number say they will not.
On more discretionary personal spending, the cutbacks will be greater. On leisure activities, 62 percent say they'll cut back on going to movies, shows or sports events to 33 percent who say they won't. By similar margins, people say they'll cut back on meals out and vacations.
The poll was conducted Nov. 6-10, and has a margin of error of plus or minus 2.1 percentage points.
Maurice Carroll, director of the Quinnipiac University Polling Institute, said in a note accompanying the poll data: "Christmas gifts, vacations, education, dining out -- Americans plan to cut back on all of them in these economically worrisome times. It's nice to see charitable giving is near the bottom of the cutback list."
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Fear is a state of mind. Would you be fearful if you know not what to fear. The daily news of the state of the economy only to lengthen and strengthen this thing we call it fear.
As someone who has always lived within my means I have no need to "cut back". I spend my money on what I need and don't clutter up my life with "impulse" purchases that I may or may not be able to afford.
While bush is not entirely to blame for the current economy, he is not entirely blameless either.
With an administration that has ignored laws, created their own laws, given unprecedented powers to themselves and to bush, ignored the US Constitution, ignored the Geneva Convention and re-defined torture. It is no wonder that Wall Street firms felt as though they can act in the same manner. In-directly, this is all the bush administration’s fault. We are bailing out these companies and allowing the execs golden handshakes, et al. This country is getting exactly what we voted for (in 00 and 04) and what we deserve.
I second that Nash!
I bought a condo about a year ago with a fixed rate and the payments combined with the condo fee is CHEAPER than my rent was!
While the bills from my divorce have me "paycheck to paycheck" I'm not living past what I can earn!
Barney Frank has YET to take responsibility for a bill that caused this whole morgage crisis! Not that I'm a fan of the republicans or Bush but when you cause something you can't just play the "blame Bush" game for everything.
Come to think of it.....my car was hit while parked....I'm SURE it was Bush!
Umm...DUH! This comes as no surprise, at all. Real estate has been on the downward spiral (three years, and counting). Real estate equity has dried up and many are "under water." Stock portfolios are down 40% for the year, or more. People's retirement dreams have vanished. Credit card debt is up. The savings rate is non-existent. Foreclosures have surged - and we've been paying outrageous prices for energy and consumables (the one silver lining: energy prices are at least more affordable now). Daycare and college tuition are also out of control. Are we really surprised that retail and entertainment are now getting hit? The last ones invited to the party.
No one is going to go buy a Gucci bag when they’re losing their house, can’t afford to drive their car, can’t prepare for retirement, and must use whatever money they have left to pay for the skyrocketing cost of groceries.
Buckle up America: we have been enjoying two decade party that is now coming to an end – what a hangover!
Christmas for me will be no change at all. I have been and always will purchase for my brother and two sisters. I don't let this economic situation get me down that much! I
things are only going to get worse after January 20th.
It will be interesting to see how many months or years that all the problems in the world will still be blamed on George Bush and the Republicans. The way that I see it is the Democratic majority has 2 years to deliver on all their promises. The electorate has an incredible short memory and if things get worse because of Nancy Pelosi, Barney Frank, Harry Reid, and the usual suspects, then the Republicans will be swept back into the House. You can count on things getting worse because Nancy, Barney, and Harry are idiots with a lot of power who will abuse their power.