CNBC's Wealth in America Finds Lack of Confidence
CNBC revealed the results of its Wealth in America Report on Squawk Box Friday morning, and CNBC.com offered online coverage, as well.
The survey of 808 adults across America, conducted by Hart-McInturff Dec. 1-3, found little confidence in the current economic leadership in Washington, D.C., with approval ratings of 46% for President Barack Obama, 39% for the Democratic Party, 26% for the Republican Party, 22% for Federal Reserve chairman Ben Bernanke and 18% for Secretary of the Treasury Tim Geithner.
Also according to the survey, more than one-half of respondents want the money paid back from TARP to go toward deficit reduction rather than new government stimulus and are pessimistic about the current state of the economy and the outlook for the future.
Back to confidence levels, only 24% of respondents were confident in the Federal Reserve, 19% in the Treasury, 17% in health companies and 10% in the financial industry, while 76% expressed confidence in the military.
Amid all of the negativity, the poll also found that Americans plan to increase their spending by 10.5% this holiday versus last year.
