only 34% of Americans expected today’s children to be better off - down from 55% shortly before President Bush came to power

October 15, 2007 by The Guardian/UK | The Land of Optimism Is in the Dumps, But Refuses to Accept How It Got There | by Gary Younge

Not since Watergate has such pessimism afflicted Americans. They want politicians to lift them without facing the cause
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This sense of optimism has been in retreat in almost every sense over the past few years. According to Rasmussen polls, just 21% of Americans believe the country is on the right track, a figure that has fallen by more than a half since the presidential election of 2004. Meanwhile only a third think the country’s best days are yet to come, as opposed to 43% who believe they have come and gone - again a steep decline on three years ago. These are not one-offs. In the past 18 months almost every poll that has asked Americans about their country’s direction has produced among the most pessimistic responses on record - a more extended period than anyone can remember since Watergate.
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There are three main reasons. Closest to home is the economy. Wages are stagnant, house prices in most areas have stalled or are falling, the dollar is plunging, and the deficit is rising. A Pew survey last week showed that 72% believe the economy is either “only fair” or poor and 76% believe it will be the same or worse a year from now. Globalisation is a major worry. Of 46 countries polled recently, the US had the least positive view on foreign trade and one of the least positive on foreign companies.

The sense that things will improve for the next generation has all but evaporated. Another Pew poll from last year found that only 34% of Americans expected today’s children to be better off than people are now - down from 55% shortly before President Bush came to power.
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Second is the Iraq war and the steep decline in America’s international standing it has prompted. A global-attitudes Pew poll from last year showed that 65% of Americans believe the country is less respected by the rest of the world than it was - double the figure of 20 years ago. The fact that only half those polled thought this was a problem is telling.
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Which brings us, finally, to the political class. Once again the American public have lost faith. The rot starts at the top. Almost as soon as they elected Bush in 2004 they seemed to regret it. Since Katrina, his favourability ratings have been stuck in the 30s and show no signs of moving - or at least not upwards. Bush’s only comfort is that public approval of the Democratically controlled Congress is even worse, hovering just below where it was shortly before the 2006 elections. In other words, however Americans believe their country will return to the right track, they no longer trust politicians to get them there. ...