Contact: Jeremy Rosen
jrosen@pgpf.org
The March 2021 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 47 (100 is Neutral)
NEW YORK (March 30, 2021) — After the $1.9 trillion American Rescue Plan was enacted this month, and with a multi-trillion-dollar infrastructure package under development by lawmakers, U.S. voters recognize that the pandemic is continuing to accelerate the nation’s fiscal challenges, according to the Peter G. Peterson Foundation’s monthly Fiscal Confidence Index. The March Fiscal Confidence Index, modeled after the Consumer Confidence Index, dropped five points to 47 (100 is neutral), indicating that voters see the growing national debt as a priority for our nation.
The percentage of Americans who say the President and Congress should spend more time addressing the national debt hit a six-month high of 78%, with the percentage saying “less time” at a one-year low of 9%. More than two-thirds of voters feel the national debt should be a top-three priority (68%), including 58% of Democrats, 65% of independents and 82% of Republicans.
“Voters understand that we are continuing to endure a terrible public health and economic crisis, but they also realize that we are piling on trillions of debt to what was already an unsustainable fiscal outlook,” said Michael A. Peterson, CEO of the Peterson Foundation. “Interest on the national debt is on pace to consume nearly half of total annual revenues by 2050, which threatens the needs and priorities of all members of the next generation, regardless of party. Once we are through the pandemic, voters want leaders to act on the many available reforms to build a sustainable budget that will increase preparedness, opportunity and economic strength.”
The Fiscal Confidence Index measures public opinion about the national debt by asking six questions in three key areas:
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 Peter G. Peterson Foundation commissioned this poll by the Global Strategy Group and North Star Opinion Research to survey public opinion on the national debt. The online poll included 1,005 registered voters nationwide, surveyed between March 23, 2021 and March 25, 2021. 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.
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.
CONCERN (47) | |||
---|---|---|---|
Thinking about our national debt over the last few years, would you say your level of concern has increased or decreased? ◊ Is that a lot or just a little? |
March 2021 | February 2021 | January 2021 |
Increased a lot | 46% | 46% | 48% |
Increased a little | 26% | 30% | 28% |
Decreased a little | 5% | 7% | 5% |
Decreased a lot | 4% | 4% | 4% |
(No change) | 14% | 8% | 9% |
(Don't Know/Refused) | 5% | 5% | 6% |
INCREASED (NET) | 72% | 76% | 75% |
DECREASED (NET) | 9% | 11% | 10% |
When it comes to addressing our national debt, would you say things in the United States are heading in the right direction or do you think things are off on the wrong track? ◊ Do you feel that way strongly or just somewhat? |
March 2021 | February 2021 | January 2021 |
Right direction-Strongly | 13% | 14% | 10% |
Right direction-Somewhat | 25% | 25% | 22% |
Wrong track-Somewhat | 21% | 23% | 28% |
Wrong track-Strongly | 33% | 30% | 32% |
(Neither/Mixed) | 2% | 1% | 2% |
(Don't Know/Refused) | 6% | 7% | 6% |
RIGHT DIRECTION (NET) | 38% | 39% | 32% |
WRONG TRACK (NET) | 54% | 53% | 60% |
PRIORITY (32) | |||
---|---|---|---|
Some people say that addressing the national debt should be among the president and Congress' top 3 priorities. Do you agree or disagree? ◊ Do you feel that way strongly or just somewhat? |
March 2021 | February 2021 | January 2021 |
Strongly agree | 43% | 43% | 43% |
Somewhat agree | 25% | 27% | 27% |
Somewhat disagree | 16% | 18% | 16% |
Strongly disagree | 7% | 5% | 6% |
(Don't Know/Refused) | 8% | 7% | 7% |
AGREE (NET) | 68% | 70% | 70% |
DISAGREE (NET) | 24% | 23% | 23% |
And when it comes to our national debt, do you think it is an issue that the president and Congress should spend more time addressing or less time addressing? ◊ Would you say a lot (more or less) time or just a little? |
March 2021 | February 2021 | January 2021 |
A lot more time | 45% | 43% | 42% |
A little more time | 33% | 34% | 35% |
A little less time | 5% | 8% | 8% |
A lot less time | 4% | 4% | 4% |
(The same amount of time) | 5% | 4% | 2% |
(Don't Know/Refused) | 8% | 8% | 9% |
MORE TIME (NET) | 78% | 76% | 77% |
LESS TIME (NET) | 9% | 12% | 12% |
EXPECTATIONS (61) | |||
---|---|---|---|
And thinking about our national debt over the next few years, do you expect the problem to get better or worse? ◊ Is that much (better or worse) or just somewhat (better or worse)? |
March 2021 | February 2021 | January 2021 |
Much better | 9% | 8% | 10% |
Somewhat better | 19% | 22% | 23% |
Somewhat worse | 22% | 27% | 25% |
Much worse | 42% | 37% | 36% |
(No change) | 3% | 1% | 2% |
(Don't know/Refused) | 6% | 5% | 5% |
BETTER (NET) | 28% | 31% | 33% |
WORSE (NET) | 64% | 64% | 61% |
And when it comes to our national debt, are you optimistic or pessimistic that the United States will be able to make progress on our national debt over the next few years? ◊ Would you say you are very (optimistic or pessimistic) or just somewhat? |
March 2021 | February 2021 | January 2021 |
Very optimistic | 8% | 9% | 9% |
Somewhat optimistic | 29% | 37% | 35% |
Somewhat pessimistic | 30% | 28% | 28% |
Very pessimistic | 25% | 19% | 21% |
(Neither/Mixed) | 2% | 2% | 2% |
(Don't Know/Refused) | 6% | 5% | 5% |
OPTIMISTIC (NET) | 37% | 46% | 44% |
PESSIMISTIC (NET) | 56% | 48% | 49% |