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Americans’ Economic Expectations for the Next Six Months: Gloom, Grim, and Glum

June 30, 2022

With rising costs forcing families to make steep cuts to their household budgets, Americans’ expectations for the next six months have plummeted to a near-decade low, according to a new study.

The study attributes Americans’ grim outlook to skyrocketing gas and food prices and rising recession risks

While more than half of Americans believe the U.S. is already in a recession, there is growing consensus among top business executives and job creators that a recession is “unavoidable.” 


Americans are struggling as Biden-Flation accelerates.

  • Under President Biden, workers’ wages have dropped nearly four percent, prompting a majority of Americans to take up bargain-hunting. 
  • At least 53 percent of Americans report spending anywhere between $101 to $500 more per month on groceries.
  • For a majority of low-income households, rising prices have become a source of “major financial stress” as a new report confirms that inflation has wiped out 26 million low-income households’ savings since President Biden took office.
  • For six months in a row, Main Street businesses have faced double-digit inflation and have lost jobs three out of the last four months.
  • More than 60 percent of job creators fear inflation will drive them out of business. 

READ: Democrats Vow to Make Biden-Flation Worse

READ: POLL: Even Dems Blame Biden for Soaring Inflation

While Democrats dismiss recession risks, job creators are “pricing in” a recession.

  • Despite President Biden’s dismissal of recession fears, former Obama-Biden Director of the National Economic Council Larry Summers recently warned that a recession is “almost inevitable.”
  • Federal Reserve Chairman Powell warned that a recession was “certainly a possibility.”
  • President Biden’s economic policies have made a recession all the more likely, according to some experts, while others who were once favorable to the President’s agenda, now fear it could “worsen inflation.”
  • In a survey of top job creators, not a single respondent believes a recession is avoidable. 
  • These findings were echoed in another study of CEOs, where more than 60 percent of respondents expect the U.S. to be in a recession in the next 12 to 18 months. 

READ: Experts: Biden Policies ‘Tailor Made’ for Recession

READ: Fed Chair: No, ‘Putin’s Price Hike’ Isn’t Primary Driver Behind Biden-Flation

Democrats’ crippling tax hikes and runaway spending will make matters worse.

READ: Build Back Better Won’t Blunt Biden-Flation

READ: One Pager: Steps to Fight Biden-flation