Despite efforts from the government, a recent poll shows that Americans are still worried when it comes to their personal finances.
The Associated Press-GfK survey shows that 70 percent of respondents said the government has not taken the proper measures to avoid another collapse in the financial industry. Furthermore, eight of 10 of the poll’s respondents felt that the economy was in poor shape, with a majority saying that it would make managing money difficult.
“The pessimistic outlook sets the stage for President Barack Obama as he attempts to portray the financial sector as increasingly confident and stable and presses Congress to act on new banking regulations,” the AP report noted.
According to the survey, 17 percent of respondents said the economic stimulus package has helped gain ground on improving the economy, which is a 10 point increase over a survey taken in July. However, almost 60 percent said they were not confident that the $787 billion doled out by Congress to get money back into the economy would work.
As Americans continue to feel worried about their personal finances, unemployment continues to rise. The unemployment rate for August increased by 0.3 percent to 9.7 percent.