Contact: Jeremy Rosen
jrosen@pgpf.org
The December 2021 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 45 (100 is Neutral)
NEW YORK (January 7, 2022) — At the start of 2022 with a record $29 trillion in national debt, U.S. voters of all stripes are growing more concerned about America’s unsustainable federal budget outlook, according to the nonpartisan Peter G. Peterson Foundation’s newest monthly index. The Fiscal Confidence Index, modeled after the Consumer Confidence Index, is 45 (100 is neutral), indicating that constituents want action on solutions to manage the debt.
More than 8 in 10 voters (83%) say that their level of concern about the national debt has increased over the last few years, up four points from the prior month. Self-identified “Liberal Democrats” are largely driving this movement — 80% of them saying their concern on the debt has increased, up from 65% last month.
Additionally, as lawmakers continue to consider the parameters of the Build Back Better Act, three-in-four voters (75%) feel the national debt should be a top-three priority for the president and Congress, including 69% of Democrats, 69% of independents and 85% of Republicans.
“As a New Year’s resolution, lawmakers should agree to finally address America’s structural debt, which threatens the future prosperity of the next generation,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation. “Our national debt challenge existed long before COVID and continues to grow at a dangerous and unsustainable pace. Today, voters are rightly concerned, especially with $5.5 trillion in debt added since the start of the pandemic. It’s time to come together as a country to face a range of unsustainable challenges for our future, and the national debt should be at the top of the list. We cannot create a strong and prepared nation for the next generation unless we secure our fiscal future.”
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 1,000 registered voters nationwide, surveyed between December 20, 2021 and December 22, 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 (40) | |||
---|---|---|---|
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? |
December 2021 | November 2021 | October 2021 |
Increased a lot | 53% | 52% | 55% |
Increased a little | 30% | 27% | 27% |
Decreased a little | 4% | 5% | 4% |
Decreased a lot | 2% | 3% | 4% |
(No change) | 8% | 9% | 6% |
(Don't Know/Refused) | 2% | 5% | 4% |
INCREASED (NET) | 83% | 79% | 83% |
DECREASED (NET) | 6% | 7% | 7% |
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? |
December 2021 | November 2021 | October 2021 |
Right direction — Strongly | 14% | 11% | 15% |
Right direction — Somewhat | 22% | 21% | 21% |
Wrong track — Somewhat | 22% | 21% | 22% |
Wrong track — Strongly | 39% | 41% | 37% |
(Neither/Mixed) | * | 1 | * |
(Don't Know/Refused) | 3% | 5% | 4% |
RIGHT DIRECTION (NET) | 37% | 32% | 36% |
WRONG TRACK (NET) | 60% | 62% | 59% |
PRIORITY (29) | |||
---|---|---|---|
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? |
December 2021 | November 2021 | October 2021 |
Strongly agree | 53% | 49% | 55% |
Somewhat agree | 22% | 24% | 24% |
Somewhat disagree | 15% | 13% | 11% |
Strongly disagree | 6% | 7% | 6% |
(Don't Know/Refused) | 4% | 7% | 5% |
AGREE (NET) | 75% | 73% | 79% |
DISAGREE (NET) | 21% | 20% | 16% |
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? |
December 2021 | November 2021 | October 2021 |
A lot more time | 51% | 50% | 55% |
A little more time | 30% | 28% | 27% |
A little less time | 7% | 7% | 8% |
A lot less time | 5% | 5% | 4% |
(The same amount of time) | 3% | 4% | 3% |
(Don't Know/Refused) | 3% | 6% | 4% |
MORE TIME (NET) | 81% | 78% | 82% |
LESS TIME (NET) | 12% | 12% | 12% |
EXPECTATIONS (67) | |||
---|---|---|---|
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)? |
December 2021 | November 2021 | October 2021 |
Much better | 11% | 8% | 13% |
Somewhat better | 16% | 16% | 17% |
Somewhat worse | 29% | 27% | 26% |
Much worse | 39% | 41% | 40% |
(No change) | 2% | 3% | 2% |
(Don't know/Refused) | 3% | 5% | 4% |
BETTER (NET) | 27% | 23% | 30% |
WORSE (NET) | 68% | 68% | 65% |
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? |
December 2021 | November 2021 | October 2021 |
Very optimistic | 10% | 6% | 11% |
Somewhat optimistic | 33% | 31% | 31% |
Somewhat pessimistic | 29% | 27% | 28% |
Very pessimistic | 24% | 29% | 25% |
(Neither/Mixed) | 2% | 2% | 2% |
(Don't Know/Refused) | 2% | 4% | 3% |
OPTIMISTIC (NET) | 43% | 37% | 42% |
PESSIMISTIC (NET) | 53% | 56% | 53% |