Rasmussen Poll: Half Americans Have Faith in Banking Sector

Wednesday, 16 May 2012 08:10 AM

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About half of Americans have faith in the stability of the U.S. banking system while a third feel they are going to lose money due a pending bank failure, a Rasmussen poll finds.

Confidence in the country's financial system isn't overwhelming, however.

"A new Rasmussen Reports national telephone survey finds that 50 percent of American adults are at least somewhat confident in the stability of the U.S. banking industry today, but that includes just 13 percent who are very confident," Rasmussen reports.

Editor's Note: You Deserve to Know What Obama and Bernanke Are Hiding From Americans

"Forty-seven percent lack confidence in the banking system, with 15 percent who are not at all confident. "

Many other polls and economic indicators are showing spotty improvement.

Take the Thomson Reuters/University of Michigan's preliminary May reading on the overall index on consumer sentiment, a key indicator of U.S. economic health.

The indictor improved to 77.8 from 76.4 in April, topping forecasts for a small decline to 76.2, Reuters reports.

It was the highest level since January 2008.

However, just because consumers may feel better about the economy doesn't mean they are going to rush out and buy things and fuel more growth.

One out of five families owes more on credit cards, medical bills, student loans and other unsecured debt than they have in savings, according to a new University of Michigan study, USA Today reports.

Things appear to be getting worse, not better.

At the end of 2011, the number of families with no savings rose to 23.4 percent from 18.5 percent in 2009, the study finds.

"The people who were down and out, without much money, in the recession have ended up staying there or even worse," says Frank Stafford, professor of economics at University of Michigan Institute for Social Research and co-author of the report, USA Today adds.

Editor's Note: You Deserve to Know What Obama and Bernanke Are Hiding From Americans




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