Contact: Jeremy Rosen
jrosen@pgpf.org
The March 2024 Fiscal Confidence Index is 38 (100 is Neutral)
NEW YORK (March 28, 2024) — Fiscal confidence dropped again this month, as new projections from the Congressional Budget Office show that America will pay a staggering $77 trillion in interest over the next 30 years. The Peter G. Peterson Foundation’s latest monthly survey, modeled after the Consumer Confidence Index, fell to 38 in March (100 is neutral) indicating that voters are growing more concerned about America’s unsustainable fiscal and budget outlook.
More than eight-in-10 voters (83%) say their concern about the debt has increased, up four points from last month. The vast majority of voters across party lines (78%) agree that addressing the debt should be a top-three priority for the president and Congress, up one point from last month, including 69% of Democrats, 77% of independents and 89% of Republicans.
“The national debt is already $34 trillion, but as it grows over the next three decades, we’ll spend more than double that on interest alone,” said Michael A. Peterson, CEO of the Peterson Foundation. “The path we’re on is the definition of unsustainable, and that’s why Americans want Washington to take notice, and take action. As the campaign season heats up and we face critical fiscal decisions in 2025, voters across party lines are calling for solutions that stabilize the debt and strengthen our economic future.”
A recent Peterson Foundation survey found that more than nine-in-10 voters would be more likely to support a candidate that supports a bipartisan fiscal commission to reduce the national debt, including 92% of Democrats and 94% of Republicans. Additionally, substantial majorities of voters across party lines agree a commission would reduce interest costs; strengthen Social Security; lower consumer costs; improve the economy; ensure greater tax fairness; and help free up resources to address other national priorities.
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 1,006 registered voters nationwide, surveyed between March 18, 2024 and March 20, 2024. 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 (29) | |||
---|---|---|---|
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 2024 | February 2024 | January 2024 |
Increased a lot | 53% | 50% | 51% |
Increased a little | 29% | 28% | 29% |
Decreased a little | 4% | 5% | 5% |
Decreased a lot | 2% | 2% | 2% |
(No change) | 9% | 11% | 9% |
(Don't Know/Refused) | 2% | 3% | 4% |
INCREASED (NET) | 83% | 79% | 80% |
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? |
March 2024 | February 2024 | January 2024 |
Right direction — Strongly | 8% | 12% | 8% |
Right direction — Somewhat | 18% | 16% | 19% |
Wrong track — Somewhat | 26% | 24% | 25% |
Wrong track — Strongly | 44% | 43% | 41% |
(Neither/Mixed) | 1% | 1% | 1% |
(Don't Know/Refused) | 4% | 4% | 5% |
RIGHT DIRECTION (NET) | 26% | 28% | 28% |
WRONG TRACK (NET) | 69% | 68% | 67% |
PRIORITY (23) | |||
---|---|---|---|
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 2024 | February 2024 | January 2024 |
Strongly agree | 54% | 52% | 53% |
Somewhat agree | 24% | 26% | 25% |
Somewhat disagree | 13% | 12% | 13% |
Strongly disagree | 4% | 4% | 3% |
(Don't Know/Refused) | 5% | 6% | 5% |
AGREE (NET) | 78% | 77% | 79% |
DISAGREE (NET) | 17% | 17% | 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? |
March 2024 | February 2024 | January 2024 |
A lot more time | 52% | 51% | 53% |
A little more time | 32% | 31% | 29% |
A little less time | 5% | 6% | 5% |
A lot less time | 4% | 4% | 4% |
(The same amount of time) | 3% | 3% | 3% |
(Don't Know/Refused) | 5% | 5% | 6% |
MORE TIME (NET) | 83% | 82% | 82% |
LESS TIME (NET) | 9% | 10% | 9% |
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 2024 | February 2024 | January 2024 |
Much better | 7% | 9% | 8% |
Somewhat better | 19% | 15% | 20% |
Somewhat worse | 34% | 34% | 32% |
Much worse | 33% | 34% | 33% |
(No change) | 3% | 3% | 2% |
(Don't know/Refused) | 4% | 5% | 5% |
BETTER (NET) | 25% | 24% | 28% |
WORSE (NET) | 67% | 67% | 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? |
March 2024 | February 2024 | January 2024 |
Very optimistic | 6% | 9% | 7% |
Somewhat optimistic | 32% | 29% | 35% |
Somewhat pessimistic | 35% | 34% | 33% |
Very pessimistic | 20% | 22% | 19% |
(Neither/Mixed) | 3% | 3% | 2% |
(Don't Know/Refused) | 3% | 4% | 4% |
OPTIMISTIC (NET) | 39% | 38% | 42% |
PESSIMISTIC (NET) | 55% | 55% | 51% |