Millennials: Thumbs down on Obama's economic policy
President Obama |
Barack Obama as a presidential candidate plunged wholeheartedly into the Internet, with e-mail fund solicitations and websites reaching out to Millennials – young people just getting involved in American politics – and won their support in the 2008 election.
Now, that support may be dropping.
A new national poll by the Marist Institute for the Knights of Columbus as part of the Moral Compass Project revealed younger Americans, ages 18-29, agree with their older counterparts that there is an economic crisis pounding the U.S., and they have no confidence in the government's ability, direction or even morals.
"A year into the Obama administration, we find that Americans – and younger Americans – are having a crisis of confidence," said Carl Anderson, CEO of the Knights of Columbus.
"People are increasingly pessimistic about the government's ability to handle the economic crisis and a majority believes that increased government regulation will hurt the economy," he said.
The poll revealed 55 percent of Americans in the Millennial age group are not confident in the government's ability to deal with the nation's economic situation. That position was taken by 59 percent of Americans overall.
The Millennials, by a 53 percent majority, also want a free market approach to the economy and oppose greater government regulation of businesses, while Americans by a 55 percent majority agreed.
Sixty percent of Millennials believe the nation is moving in the wrong direction, as do 67 percent of Americans overall.
And 66 percent of Millennials – and 75 percent of Americans overall – want the same set of moral standards in business life as in personal life.
Also, 77 percent of Millennials see business decisions based on greed as morally wrong, as do 74 percent of all Americans. Both categories believe, with 55 percent majorities, their careers will be hurt long-term by the present economic downturn.
"Most Americans are unhappy with the ethical environment in business," Anderson said. "They want less greed and the same core values that govern an executive's personal life to also govern business decisions.
"In other words, Americans neither want sleight of hand on Wall Street or a heavy hand from Washington, and these attitudes are shared by America's young adults," he said.
The survey contacted 2,243 Americans, including an oversample of 1,006 Millennials, and has a margin of error of 2 percent. Data were collected Dec. 23, 2009, through Jan. 4, 2010.
The faith of the nation seemed to be on a solid foundation. Sixty percent of Millennials believe the religious beliefs and values of a business executive should influence their business decisions somewhat or a great deal.
For Americans overall, the figure was 65 percent.
Greed as a basis for business decisions is "morally wrong," according to 77 percent of Millennials, 75 percent of the Baby Boom generation, 67 percent of GenX and 79 percent of the "greatest" generation.
The focus on family also showed up in the question about career success and family interests. Seventy-four percent of Millennials and 76 percent of Americans were confident they could "balance family and my career and still be successful."
The year President Obama has had in office has not inspired, either. Among Millennials, 36 percent said they were less confident of the government's ability to handle economic problems now than when Obama took office. Another 39 percent said their confidence had not changed.
Further, while Americans overall submitted they approved of the job Obama is doing 54-46 percent, it was turned around, 49-51 percent, when the issue came to his handling of the economy.
Full details of the assessment are available online.
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