Public Doubts Politicians on the Economy

As an economist, I often am bewildered and frustrated by many actions taken and views expressed relating to policymaking and the economy. Sometimes it’s the public in general that generate such feelings. But usually, it’s our elected officials and their appointees.

Therefore, I take great heart in the following findings from a new survey by Rasmussen Reports:

A new Rasmussen Reports national telephone survey finds that only 32% of adults are at least somewhat confident that those policymakers know what they’re doing when addressing the current economic problems on Wall Street. That includes nine percent (9%) who are very confident.

However, 64% lack that confidence, with 40% who are not very confident in the policymakers and 24% who are not at all confident.

Investors are even more dubious. Sixty-seven percent (67%) of investors are not confident that policymakers know what they’re doing with regards to Wall Street.

These majorities are absolutely correct. Many policymakers do not have a clue as to what they are doing when regulating the financial industry – or pretty much any other industry – nor do they grasp all of the consequences and costs of their actions.

There’s your happy thought heading into the weekend.

Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council