Most Americans in 'Poor' or 'Fair' Financial Shape
Newsmax
The mood in America is decidedly pessimistic when it comes to personal finances, a new survey reveals.
Just 7 percent of Americans report that they are in "excellent" financial shape, according to the 2014 American Values Survey from the Public Religion Research Institute (PRRI).
In addition to those in excellent shape, 34 percent report that they are in "good" shape financially, while the majority report that they are in "poor" (20 percent) or "fair" (37 percent) condition financially.
The most commonly cited economic hardship Americans face in their daily lives is food insecurity — 36 percent of survey respondents say they or someone in their household had to reduce meals or cut back on food to save money over the past year.
Only 42 percent of Americans believe that the American Dream — if you work hard, you'll get ahead — still holds true today, while 48 percent say it once held true but does not anymore, and 7 percent say the American Dream never held true.
And nearly half of Americans, 49 percent, believe their generation is better off financially than their children's generation will be, the PRRI found.
Founded in 2009, the PRRI is a nonpartisan organization dedicated to research and education "at the intersection of religion, values, and public life," according to its website.
The organization's poll found that just 21 percent of Americans believe the economic recession is over, while the overwhelming majority, 72 percent, say the economy is still in recession today.
About half of Democrats surveyed say the economy has gotten better over the last two years, while 17 percent believe it has gotten worse and 33 percent say it has stayed about the same.
Only 15 percent of Republicans say the economy has gotten better, and 54 percent say it has gotten worse.
On economic issues likely to play a part in state and federal elections, 57 percent of Americans favor raising the tax rate on those earning more than $250,000 a year, 69 percent favor increasing the federal minimum wage to $10.10 an hour, and 78 percent say companies should be required to provide full-time employees with paid leave for the birth or adoption of a child.