With Deadlines Looming, Broad Majority of Americans Calls for More Focus on Nation's Fiscal Outlook

Contact: Sarah Stipicevic, Press Secretary
(212) 542-9265 sstipicevic@pgpf.org

The October 2015 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 51 (100 is Neutral)

NEW YORK — With important fiscal deadlines looming in coming weeks, the nation’s fiscal outlook remains a top concern for American voters. The Peter G. Peterson Foundation’s October Fiscal Confidence Index, a monthly measure of public attitudes about the nation’s long-term debt and the efforts elected leaders are making to address America’s fiscal challenges, is 51 (100 is neutral). As lawmakers face important decisions on the debt ceiling and the annual budget, voters are calling for their leaders to put the nation on a sustainable long-term fiscal path.

In October’s survey, voters continue to have deep concerns about the long-term national debt, with nearly two thirds (65% increased/17% decreased) saying that their level of concern has increased over the last few years. More than eight in ten (82%) voters want Congress and the President to spend more time addressing these challenges, with 80% calling for the debt to be among their top three priorities. However, while overall sentiment about the debt remains deeply negative, voters are more optimistic than pessimistic about the country’s ability to make progress on the issue (51% optimistic/38% pessimistic).

"Lawmakers have several critical fiscal issues to address in coming weeks," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation. "Voters are urging their leaders to work together to move away from government-by-crisis and instead focus on comprehensive solutions to America’s unsustainable long-term debt."

The Fiscal Confidence Index measures public opinion about the national debt by asking six questions in three key areas:

• CONCERN: Level of concern and views about the direction of the national debt.
• PRIORITY: How high a priority addressing the debt should be for elected leaders.
• EXPECTATIONS: Expectations about whether the debt situation will get better or worse in the next few years.

The survey results from these three areas are weighted equally and averaged to produce the Fiscal Confidence Index value. The Fiscal Confidence Index, like the Consumer Confidence Index, is indexed on a scale of 0 to 200, with a neutral midpoint of 100. A reading above 100 indicates positive sentiment. A reading below 100 indicates negative sentiment.

Fiscal Confidence Index Key Data Points:

• The October 2015 Fiscal Confidence Index value is 51. A score of 100 is neutral. Values below 100 show negative sentiment, while values above 100 show positive sentiment. (September’s value was 48. August’s value was 44.)
• The current Fiscal Confidence Index score for CONCERN about the debt is 43, indicating deep concern about the debt. The score for debt as a PRIORITY that leaders must address is 22, indicating that Americans want elected leaders to make addressing long-term debt a high priority. The score for EXPECTATIONS about progress on the debt is 88, indicating strong pessimism about the direction of long-term fiscal policy in the next few years. The Fiscal Confidence Index of 51 is the average of these three sub-category scores.
• For a description of the complete methodology, see the Appendix below.

The Peter G. Peterson Foundation commissioned a poll by the Global Strategy Group and North Star Opinion Research to survey public opinion on the national debt. The nationwide poll included 1,000 U.S. registered voters, surveyed by telephone between October 19 and October 22, 2015. The poll has a margin of error of +/- 3.1%. The poll examined voters’ opinions on the national debt, political leadership, and America’s fiscal and economic health.

Detailed poll results can be found online at: www.pgpf.org/FiscalConfidenceIndex

About the Peter G. Peterson Foundation
The Peter G. Peterson Foundation is a nonprofit, nonpartisan organization that is dedicated to increasing public awareness of the nature and urgency of key fiscal challenges threatening America's future, and to accelerating action on them. To address these challenges successfully, we work to bring Americans together to find and implement sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results. To learn more, please visit www.pgpf.org.

APPENDIX: Fiscal Confidence Index Methodology and Questions

• The Fiscal Confidence Index is released monthly by the Peter G. Peterson Foundation.
• The Fiscal Confidence Index value is based on six questions in three categories.
• As is done with the Consumer Confidence Index, the first step in calculating the Fiscal Confidence Index is determining the "Relative Value" for each question. This calculation is made by taking the positive response for each question and dividing it by the sum of the positive and negative responses. Each question was asked on a four-point scale, and answers were weighted according to intensity, with the strongest responses counting twice as much as the middle responses ("much" better or worse answers count twice as heavily as "somewhat" better or worse answers).
• The scores for the Concern, Priority, and Expectations categories are determined by averaging the scores derived from the two questions in each category.
• The Fiscal Confidence Index value is converted from the Relative Value to place it on a scale on which 100 indicates equal positive and negative sentiment, while values below 100 indicate negative sentiment and values above 100 indicate positive sentiment.
• The Peter G. Peterson Foundation commissioned the poll by the Global Strategy Group and North Star Opinion Research to survey public opinion on the national debt. The nationwide poll included 1,000 U.S. registered voters, surveyed by telephone between October 19 and October 22, 2015. The poll has a margin of error of +/- 3.1%. The poll examined voters’ opinions on the national debt, political leadership, and America’s fiscal and economic health.
• The questions are as follows: