2/2: Nearly Half of NYS Voters Think Economy Is Worsening

February 2, 2010 by  
Filed under Featured, Money, Money Vault, State of the Economy

Pessimism about New York State’s economy continues to grow.  Almost half of registered voters statewide — 49% — believe the economy is getting worse while 11% say it is improving.  40% think the economy is staying about the same.

economic woes newspaper headline

©istockphoto.com/LilliDay

Click Here for Complete February 2, 2010 NYS Poll Release & Tables

Compared with Marist’s November 2009 survey, more voters now say the state’s economic situation is on the decline.  At that time, 39% thought the economy was deteriorating while 15% said it was improving.  46% thought the economy was still in a steady state.  In September, 29% thought the economy was taking a turn for the worse, 19% reported it was improving, and a majority — 52% — said it was status quo.

The lack of confidence in the future of the economy spans the state.  A majority upstate — 53% — believes New York’s economy needs to be resuscitated.  50% in the suburbs and 42% in New York City agree.  These proportions have all increased since Marist last asked about the state of the economy.  Last November, 47% of upstate voters, 37% of suburban voters, and 29% of those in the city held that view.

“While some experts see the possible end to the recession and the beginning of an economic recovery, this is not the direction New Yorkers believe captures the economy here,” says Dr. Lee M. Miringoff, Director of the Marist Institute for Public Opinion.

When it comes to money matters at home, however, voters are more optimistic about their personal finances than they are about the economy in the state.  56% of the electorate believes their family finances will remain the same in the upcoming year, 26% think they will get better, and only 18% report they will get worse.  But, there has been little change on this question since Marist last asked voters about their financial prospects in November.  In that survey, 56% thought their family finances would remain unchanged, 24% reported they would get better, and 20% believed they would get worse.

New York City residents have a slightly brighter view of their personal finances than they did three months ago.  Currently, 37% of voters in the city say their family finances will improve, 16% think it will get worse, and 48% report they will stay the same.  In The Marist Poll’s November survey, 31% said their money matters would improve, 15% believed they would get worse, and a majority — 54% — reported they would toe the line.

There has been little change among voters in New York’s suburbs and upstate on this question.  In the suburbs, a quarter of voters in this region think it will get better, 17% believe it will get worse, and 58% say it will remain the same.  Upstate, 21% report their personal finances will improve, 19% think it will worsen, and 59% believe it will remain the same.  Proportions in both of these regions are similar to those found in Marist’s November survey.

Table: New York State Economy
Table: Family Finances in the Coming Year

Marist Poll Methodology

Comments

2 Responses to “2/2: Nearly Half of NYS Voters Think Economy Is Worsening”

  1. B Dubya on February 2nd, 2010 2:40 pm

    If you live in upstate NY (I do), the notion that we are in the best of hands very quickly erodes. That erosion is more pronounced the farther you are from NYC and Albany.
    Upstate NY is an economic wasteland, made so by a state wide policy of taxing every private or corporate entity that comes here unto death. The economy of NY the State used to be up here, where all us rubes live; agriculture and small manufacturing once abounded. Now its all gone except for a few die-hard dairy farmers, who are also getting that grim feeling. Those that can, liquidate what they can and leave for more private enterprise friendly pastures. Those that can’t hunker down and wait it out as best they can.
    Taxing its own economy to death has been the only game plan NYS has ever had.
    In the end, we’ll all be treading on some great progressive economic mobius strip, state employees all, funding our government salaries from the withholding and property taxes made possible by our government salaries…

    Anyone who thinks this is improving is either an idiot or on the take.

  2. MarkD on February 2nd, 2010 5:48 pm

    My property taxes have risen, a lot. My income has declined (no raises, mandatory furloughs.) Hey, now that the Thruway bonds are paid off, the tolls have risen. There isn’t a dime in this state that Albany isn’t trying to get. I don’t think the situation is deteriorating, I know the situation is deteriorating.

    It is so bad that we need major growth locally just to balance the lost tax revenue from the industry that has left. I can hardly wait to get the school tax bill. It is so bad that I will be driven out of the state when I get laid off or retire, whichever comes first. It doesn’t matter what I want, I can’t afford to stay.

    The only spending that is being cut around here is mine. It’s looking like the cable will have to go so I can afford the gas to get to work.

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!