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Americans are already pessimistic about how the year will go

After the last few mentally, sociopolitically and economically tumultuous years, it would be hard to blame people for not feeling too optimistic as the new year begins, which is traditionally a time for hope and a fresh start. But a new poll from Gallupwhich polled more than 1,800 American adults, found that eight out of 10 respondents expect 2023 to be another year of economic hardship, with higher taxes and a widening budget deficit.

“Americans are greeting 2023 with great skepticism and little expectation that the economic strife that capped 2022 will subside,” wrote Gallup research consultant Megan Brenan. “Few US adults also predict that the partisan politics plaguing the nation will improve, not an unreasonable expectation given that there will be divided government in 2023 after Republicans gain control of the US House of Representatives.”

Worries around record levels of inflation and went on to talk about a looming recession dominated much of the economic discourse last year. Such money woes only add to Americans’ continued anxiety about COVID, increased racism and bigotry, mental health and isolationism.

The Federal Reserve scrambled in 2022 to raise interest rates in an effort to contain inflation as Americans fork over more money to buy houses, fill gas tanks, run to the grocery store, or splurge on other everyday items.

But that’s partly what it is triggering fears of recession. And many Americans don’t seem to think the Fed’s strategy will be effective. According to Gallup, more than six in 10 American adults think prices will still rise at a rapid pace and that the stock market will continue to fall in 2023 (even though inflation has declined it was slowly declining). And just over half of Americans expect unemployment to rise in 2023, which hasn’t been a concern yet while workers continue to leave their jobs in droves despite layoffs, particularly in the technology sectorshaking up the workforce.

Americans aren’t just grim about their bank accounts and workforce. 90% of respondents said they expect 2023 to be a year of more political strife in the United States; Self the unprecedented mess unfolding in the US House of Representatives with aspiring president Kevin McCarthy is an indication a week into the year, their prediction holds up.

On top of that, over 70% think the crime rate will rise and 56% expect there will be “lots” of union strikes.

If you are not depressed enough yet, forecasts internationally are just as pessimistic. Eighty-five percent of US adults expect a 2023 filled with international discord rather than peace. One bright spot, however, is 64 percent of Americans expect Russia’s power to wane, which Gallup points to as a likely reflection of the country’s recent setbacks in its war against Ukraine.

Whatever 2023 actually holds, the continued setbacks and bomb shocks since the start of the pandemic in 2020 have certainly had a significant impact. the roaring 2020s Americans in general once hoped.