A new Gallup poll reveals the vast majority of Americans are anticipating various levels of economic instability in 2023, under the leadership of President Joe Biden.
For the survey — which was published Tuesday and surveyed 1,803 American adults Dec. 5-19 — 79% of respondents predict "difficult" economic times in the new year, as opposed to only 20% of surveygoers who are optimistic about the U.S. economy.
Along those lines, 65% of those polled expect high inflation to continue throughout 2023, along with the stock market possibly sinking to new lows relative to the Biden administration's time in the White House.
The most ominous economic signs, though, might involve this double play: A whopping 85% of respondents agree it will be a "troubled year with much international discord." And a staggering 90% of Americans expressed a similarly gloomy sentiment when it comes to domestic affairs.
The lone positive in the survey: Those who identify as Democrats are decidedly more optimistic about America's economic prospects than Republican surveygoers.
"Party identification is the greatest demographic differentiator in predictions for 2023, with Democrats more likely than Republicans to offer positive predictions for all of the dimensions," Megan Brenan wrote in the poll analysis. "This is a typical phenomenon whereby Americas who identify with the sitting president's party are more positive in general in their outlook for the year ahead.
"Majorities of Democrats foresee five positive developments in 2023. These include full or increasing employment (69%), a reasonable rise in prices (53%), a rising stock market (53%), an increase in U.S. power (56%), and a decrease in Russian power (79%). Democrats are least likely to predict political cooperation (13%) and a peaceful year mostly free of international disputes (21%)."
Tuesday's Gallup poll had a margin of error of plus or minus 3 percentage points.
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