-- Over three-quarters see the U.S. in a recession -- Top 2008 election issues: economy, war, healthcare and gasoline prices

55.8% of Americans suggest their current economic standard of living is declining, according to a national poll conducted by the Sacred Heart University Polling Institute. That number is up from 23.9% according to a 2006 SHU Poll.

And today, only 38.0% of Americans suggest their current economic standard of living is improving, which is drastically down from 71.7% reported in the 2006 SHU Poll.

"Clearly, the crisis in the credit markets, coupled with significant increases in not just gas but also food has combined to make the average American feel poorer and pessimistic about the future," stated John Gerlach, senior business executive in residence and associate professor in the John F. Welch College of Business at SHU.

Among the top 10 national problems or issues cited by survey respondents, seven are economic concerns:

  What national problems or issues are
  you most concerned about today?
  (Multiple responses were accepted.)                  March 2008

  Poor economy                                              46.3%
  War in Iraq                                                34.1
  Healthcare costs                                           18.3
  High gas prices                                            16.3
  High unemployment rate                                      6.1
  Immigration issues                                          6.0
  Cost of living                                              6.0
  Safety of U.S.                                              3.9
  Taxes are too high                                          3.9
  Price of oil                                                3.6
  Presidential race                                           3.5
  Government corruption                                       3.4
  Environment deteriorating                                   3.1
  Improving education                                         3.1
  Terrorism                                                   3.0

"Given growing concerns over poor economy, healthcare costs, high gas and oil prices, and cost of living, it's not surprising to see 76.5% of Americans confidently tell us that the U.S. is currently in a recession," according to Jerry C. Lindsley, director of the Sacred Heart University Polling Institute. He added, "Unfortunately, only 31.4% see the coming tax rebate helping to improve the U.S. economy."

According to Gerlach, "Consumer spending accounts for about 70% of our GDP, so it is little wonder that the economy slowed to a 0.6% increase in the fourth quarter of 2007 and is likely to show a decline in the current quarter. A recession is technically two successive quarters of negative GDP growth, but there is little doubt that it is only a matter of time before that occurs."

"The prospect of further problems in the credit markets and increased job losses only adds to the negative feelings by most Americans, and as has been noted by more than one observer, the tax rebate will pay for a decent dinner in most cases and not much more," he said.

How the Poll Was Conducted

The Sacred Heart University Polling Institute completed 800 interviews with residents nationwide between March 3-15, 2008. The sample was generated proportional to population contribution in all 50 states. Statistically, a sample of 800 completed telephone interviews represents a margin for error of +/-3.5% at a 95% confidence level.

About Sacred Heart University

Sacred Heart University, the second-largest Catholic university in New England, offers more than 40 undergraduate, graduate and doctoral programs on its main campus in Fairfield, Connecticut, and satellites in Connecticut, Luxembourg and Ireland. Approximately 5,800 students attend the University's four colleges: Arts & Sciences; Education & Health Professions; University College; and the AACSB-accredited John F. (Jack) Welch College of Business. The Princeton Review includes SHU in its "Best 366 Colleges: 2008," U.S. News & World Report's "America's Best Colleges 2008" ranks SHU among the best master's universities in the North, and Intel rates it #11 among the nation's most "unwired" campuses. SHU fields 32 division I athletic teams, and has an award-winning program of community service.

Source: Sacred Heart University Polling Institute

Web Site: http://www.sacredheart.edu/