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Americans Growing More Pessimistic About Economy: CNBC Survey

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Published: Thursday, 21 Oct 2010 | 9:15 AM ET
Steve Liesman By: | CNBC Senior Economics Reporter

Among those would want the tax cuts to end, the leading reason, cited by 26 percent, is that the money could be used for such programs as social security and education.

In second place, with 17 percent, is the response that “the wealthy do not pay their fair share in taxes.”

The Tea Party also sharply divides the public, but into three distinct camps: 31 percent say they agree with the party’s economic positions and 28 percent say they disagree.

Emotions are charged on both sides, with equal percentages saying they strongly agree and strongly disagree. But there’s a larger, third group: 41 percent of the public say they don’t have an opinion on the Tea Party or they are just not sure.

Finally, a majority of Americans do not believe this is a good time to invest in the stock market, about the same percentage as during the height of the financial crisis in 2008. Just 37 percent of the public say it’s a good time to invest.

The survey questioned 801 people and was conducted October 10-13. Completeresults here.

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The American dream appears increasingly elusive to the average citizen, with the CNBC All-America Economic Survey finding continued high levels of pessimism in the nation’s outlook for incomes, home values and the future of the economy.

   
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