Contact: Jeremy Rosen
jrosen@pgpf.org
The November 2022 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 44 (100 is Neutral)
NEW YORK (November 23, 2022) — In the wake of the 2022 midterm elections, with divided government coming with the 118th Congress, American voters are calling on their leaders to prioritize the unsustainable national debt and federal budget outlook. The Peter G. Peterson Foundation’s Fiscal Confidence Index for November is 44 (100 is neutral), indicating deep concern about our nation’s fiscal and economic condition.
As interest rates continue to rise, more than three-in-four voters (77%, up from 72%) agree that the national debt should be a top-three priority for Congress and the president, including 71% of Democrats, 73% of independents, and 89% of Republicans. The percentage of voters who want leaders to spend more time addressing the debt also increased this month, to 80%, while 78% say their concern about the debt has increased.
With a post-election 9-point jump to 68, the Expectations portion of the index rose the most, driven by an increased belief that the debt situation will improve (30% better/64% worse, from 23%/69%), and also by rising optimism about progress on the debt issue (42% optimistic/53% pessimistic, from 38%/56%).
“With high inflation, risk of recession, rising interest rates and the debt soaring over $31 trillion, there are many urgent fiscal and economic priorities for the 118th Congress to address next year,” said Michael A. Peterson, CEO of the Peterson Foundation. “Americans are rightly concerned that our debt continues to rise without any plan to stabilize our future. Divided government provides both a requirement and an opportunity for bipartisan solutions, and voters want their leaders to prioritize a more stable and more prosperous 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 November 14, 2022 and November 16, 2022. 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 (37) | |||
---|---|---|---|
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? |
Nov 2022 | Oct 2022 | Sept 2022 |
Increased a lot | 50% | 51% | 52% |
Increased a little | 28% | 29% | 29% |
Decreased a little | 7% | 4% | 6% |
Decreased a lot | 2% | 2% | 3% |
(No change) | 10% | 10% | 8% |
(Don't Know/Refused) | 3% | 3% | 2% |
INCREASED (NET) | 78% | 80% | 81% |
DECREASED (NET) | 10% | 7% | 9% |
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? |
Nov 2022 | Oct 2022 | Sept 2022 |
Right direction — Strongly | 12% | 9% | 13% |
Right direction — Somewhat | 20% | 19% | 20% |
Wrong track — Somewhat | 24% | 25% | 22% |
Wrong track — Strongly | 41% | 43% | 42% |
(Neither/Mixed) | 1% | 1% | 1% |
(Don't Know/Refused) | 2% | 3% | 2% |
RIGHT DIRECTION (NET) | 32% | 28% | 33% |
WRONG TRACK (NET) | 65% | 68% | 64% |
PRIORITY (27) | |||
---|---|---|---|
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? |
Nov 2022 | Oct 2022 | Sept 2022 |
Strongly agree | 51% | 48% | 51% |
Somewhat agree | 26% | 24% | 24% |
Somewhat disagree | 16% | 17% | 16% |
Strongly disagree | 5% | 6% | 5% |
(Don't Know/Refused) | 3% | 5% | 5% |
AGREE (NET) | 77% | 72% | 74% |
DISAGREE (NET) | 20% | 23% | 21% |
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? |
Nov 2022 | Oct 2022 | Sept 2022 |
A lot more time | 50% | 49% | 52% |
A little more time | 30% | 30% | 31% |
A little less time | 6% | 8% | 6% |
A lot less time | 4% | 3% | 4% |
(The same amount of time) | 5% | 4% | 5% |
(Don't Know/Refused) | 4% | 5% | 3% |
MORE TIME (NET) | 80% | 79% | 83% |
LESS TIME (NET) | 11% | 11% | 10% |
EXPECTATIONS (68) | |||
---|---|---|---|
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)? |
Nov 2022 | Oct 2022 | Sept 2022 |
Much better | 8% | 7% | 9% |
Somewhat better | 21% | 16% | 22% |
Somewhat worse | 28% | 32% | 28% |
Much worse | 36% | 38% | 35% |
(No change) | 3% | 3% | 2% |
(Don't know/Refused) | 3% | 5% | 3% |
BETTER (NET) | 30% | 23% | 31% |
WORSE (NET) | 64% | 69% | 64% |
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? |
Nov 2022 | Oct 2022 | Sept 2022 |
Very optimistic | 9% | 7% | 10% |
Somewhat optimistic | 33% | 31% | 36% |
Somewhat pessimistic | 32% | 35% | 29% |
Very pessimistic | 20% | 21% | 20% |
(Neither/Mixed) | 3% | 2% | 2% |
(Don't Know/Refused) | 3% | 3% | 3% |
OPTIMISTIC (NET) | 42% | 38% | 46% |
PESSIMISTIC (NET) | 53% | 56% | 49% |