With the “fiscal cliff” looming and potential tax increases on the horizon, it’s interesting to see where Americans of all ages agree (and where they don’t) when it comes to their hard-earned dough being divvied up by the government.
No big surprise, most Americans (71.2%) would rather shrink the size of government than raise taxes. Members of the Boomer Generation (75.9%), Silent Generation (75.2%), Gen X (70.5%) and Gen Y (61.9%) agree. But where should the government cut back?
Members of Generation Y appear most likely among the age groups to opt for a tax increase instead of cutting public services (police, education) or social programs (welfare, Medicare). The Silent Generation seems to agree, while the middle generations are mixed:
Although all generations appear willing to support education and safety, the majority of Gen X and the Boomers would prefer the budget for social programs like welfare get a trim before their paychecks.
Perhaps Gen Y is more likely to support higher taxes because most prefer to be unemployed! Over half (55.2%) say they would rather be unemployed and happy than be employed and miserable. While happiness is great, older generations are more likely to cope with misery if it means food on the table and shelter for their family:
It seems the Boomer Generation is the most likely to opt for employment even if it means unhappiness—perhaps they are housing some unemployed and happy members of the youngest generation!
Source: American Pulse™ Survey, October 2012 #1, N = 3529
© 2012, Prosper®
You’ve heard the phrase “new normal” on the news, during conversation, in reference to the economy, etc…but what does it mean for most Americans? What has truly become part of normal everyday living in post-recession USA?
Most Americans agree that fluctuating gas prices (71.5%), the rising cost of food (63.5%) and high national debt (60.4%) are now normal parts of living in America that we just have to deal with. The slow-growing economy (53.1%) and the hassle of frequently shopping for sales (50.4%) also top the list.
Although fluctuating gas prices top the list of “normal” conditions for all age groups, members of the Silent Generation (83.9%) are more likely than those in Generation Y (57.5%) to say frequent pain at the pump is part of the “new normal.” Youngsters in the U.S. probably don’t remember when gas cost less than a dollar per gallon while those in the Silent Generation might be reminiscing of the good ol’ days when you could buy a gallon or two with the spare change in your pocket.
The generations also differ when it comes to modesty: not surprisingly, fewer members of younger generations notice a difference in the generally accepted code of conduct, while those in older generations are more likely to see a lack of modesty as a recent development in American living.
While the disappointment of deferring purchases is lower on the list of “new normal” situations to cope with, the Boomer Generation is most likely to feel the sting here. 39.6% of Boomers consider pushing off the purchase of a flat screen, vacation home or new car as just another part of living in the U.S. of A. For comparison, only 26.8% of Gen Yers agree.
For more on the “new normal,” head over to the Prosper Now Blog at Forbes.com.
Source: American Pulse™ Survey, October 2012 #1, N= 3529
© 2012, Prosper®
Do you trust your bank? Or do you stash your cash inside the mattress? We asked Americans how they felt about their personal bank and the federal banking system. Nearly 3 in 4 (73.8%) said they can count on their local bank while fewer (39.4%) put stock in the U.S. banking system as a whole. Interestingly, trust levels vary by generation:
It seems as though older Americans have more trust in their local bank while youngsters are more trusting of the United States banking system as a whole, compared to other generations.
Gen Yers are also more optimistic that recently announced lower interest rates will help the economy. 31.1% of these young adults are more or much more confident in the housing market as a result of the Fed’s interest rate adjustment. 25.3% say the same about the economy overall along with 23.1% who show a boost of confidence in the job market. Members of Gen X, just one generation older, are less likely to be confident in all three areas:
Perhaps Gen Y is more confident because this age segment is the most likely to take advantage of lower interest rates. 61.2% of members of Gen Y plan to make some type of life change as a result of the Fed’s announcement: 22.4% say they are likely to buy a car, 20.9% are in the market for a home and 20.5% plan to go [back] to school. Most members of older generations do not plan to make any life changes at this time.
For more fresh insights on American consumers, including confidence in the economy, expectations for gas prices and even Election 2012 updates, be sure to check out the complimentary American Pulse™ InsightCenter!
Source: American Pulse™ Survey, September 2012 #2, N=3282
© 2012, Prosper®
Many Americans across the nation have been shaken up by recent violent attacks in Colorado at a movie theater, in Wisconsin at a Sikh temple and now New York, just outside the Empire State Building. Are citizens of these states more concerned about violence than the rest of the nation?
More than 1 in 3 (35.1%) Adults 18+ say they are somewhat or very concerned to visit public places, as of early August (shortly after the Dark Knight shooting in Colorado). Residents of New York (36.1%) and Wisconsin (35.8%) show slightly higher concern, while those in Colorado (24.7%) are not as worried. Ohioans (36.5%) also show elevated concern for visiting public places. As a native Ohioan, I must admit I get a little nervous when visiting Cleveland—perhaps it has something to do with the viral tourism videos…
So what types of places have Americans thinking twice? Where might they avoid if possible? Despite TSA attempts to make airports safer, 2 in 5 Americans are still concerned about random acts of violence at these travel hubs. Shopping malls (33.1%) were the next highest location of concern—something retailers should really be aware of heading into the all-important holiday season. Santa’s little helpers might appreciate some added security this year.
Places of worship are understandably a big concern in Wisconsin (39.0%) while citizens of Colorado (34.9%) and those in Ohio (33.6%) show elevated apprehension for violence in schools. Whether past or present, vicious attacks such as those occurring in Oak Creek, Wisconsin; Columbine, Colorado; and Kent State University in Ohio still impact the perception of safety in the United States.
Overall, those in New York are the most concerned about random acts of violence in public places—7 in 10 admit to concerns about violence in at least one location.
Ohioans are less concerned—37.8% say they are not worried about violence in any public places. Perhaps this state isn’t such a bad place to visit!
Source: American Pulse™ Survey, August 2012, N=3,281
© 2012, Prosper®
As some of you may know, we’ve been releasing these really handy tools called InsightCenters, perfect for serving up answers in an intuitive, interactive and illustrative way. You can find insights on a wide range of topics – mobile device ownership, Hispanic consumers, new vehicle purchasers, government unemployment stats, and even the economy of China—all at the click of a mouse or the tap of a touch screen!
At the moment I have a domestic focus, and have been exploring our American Pulse InsightCenter, which takes a look at how Americans feel about the upcoming election, the economy, technology, and much more!
In just a few minutes, I was able to easily gather these fun facts:
- Members of Generation Y are more likely than older generations to say they are addicted to the Internet and Facebook.
- More Boomers than younger Americans say they are addicted to TV.
- Men are more likely than women to be happier with the work life, and both genders’ happiness levels in the workplace are higher in 2012 than they were in 2011.
- Women, however, are more likely than men to be happy or totally happy with their love lives.
- In July, Hispanics were more likely than Whites and Blacks to thoroughly enjoy their lives rather than worrying about making money.
- Members of Generation Y are more confident that the government’s economic policies will help lower unemployment, and their confidence is growing.
- Neither Presidential candidate has a positive Net Promoter Score* among Likely Voters.
- Obama, however, receives a higher score among Democrats than Romney does among Republicans.
Take a look for yourself and see what you can learn about the pulse of America: the people! And for the people, did I mention access to this InsightCenter is totally free? :) (Just click the image to access the online version or download to your Android tablet!)
© 2012, Prosper®
*About the Net Promoter Score (NPS): Respondents were asked to rate, on a scale from 0 (Not at all likely) to 10 (Extremely likely), the probability they would recommend each presidential candidate to a friend or colleague. 10 and 9 responses indicate Promoters, 8 and 7 responses are Passives and 0 through 6 are Detractors. NPS is calculated by subtracting the percentage of Detractors from the percentage of Promoters.
Net Promoter, NPS and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld
It seems as though Americans were right in saying the quality of education in the U.S. is slipping, and recent American Pulse results support that argument. 66.0% said our children’s knowledge of historical events has gotten somewhat or much worse in the past 10 years. However, it’s not just the children who are forgetting key facts about U.S. history—older generations’ minds are slipping as well, and they don’t have a “failing school system” to blame. The gold stars are few and far between for the Presidential Pop Quiz.
4 in 5 Americans (79.6%) don’t know who wrote the law of the land and is known as the Father of the Constitution. (Seems like an important tidbit that should be remembered instead of pop lyrics, sports stats or a date’s phone number.) Only 20.4% knew that James Madison is the man behind the manuscript that governs our country; most (59.8%) believe Thomas Jefferson wrote the Constitution. Members of Generation Y, those most recently submerged in the school system, were slightly more likely to pick Madison:
Having lived through a historical event seems to make it more memorable. Older Americans in the Silent Generation were most likely to remember that Franklin D. Roosevelt was responsible for the economic programs known collectively as the New Deal. 87.5% of these wise citizens picked the correct answer vs. 58.9% of the youngsters in Gen Y (still a majority though). Members of the Silent Generation know their assassination history better than other ages as well:
Now for the trick question:
Which president was in office when we landed on the moon?
- John F. Kennedy
- Lyndon B. Johnson
- Richard Nixon
- Gerald Ford
Did you pick out Nixon? The majority of Americans did not—JFK (36.8%) was the popular choice, likely because he declared in 1961 there would be a moon landing by the end of the decade. A significant number of citizens (27.4%) thought Lyndon B. Johnson was in office when we landed on the moon, since he was in office the same year, 1969 (perhaps a thank you should go out to the Disney show Even Stevens for a catchy tune about that). Overall, roughly one-third (32.3%) picked the right president. Boomers, followed by members of Gen Y, were most likely to name Nixon as the Commander in Chief when the lunar landing took place:
Although it seems factual knowledge of the U.S. presidents is lacking, American citizens have a good idea of which presidents would do the best job handling the current economic situation. Nearly 1 in 4 (23.5%) would bring back Ronald Reagan if they could pick any past or current president to run the country. Older Americans show more support for the former-actor-turned-politician; 30.5% of Boomers and 32.4% of the Silent Generation miss Reagan’s tax cuts, deregulation efforts and ability to sustain general prosperity across the nation. Bill Clinton was the #2 pick for most (#1 for Gen Y). I think it’s safe to say Americans don’t want another scandal, but they would prefer a drop in national debt! The #2 for Gen Y is current president, Barack Obama, third among the general population in presidential popularity. To see how Obama stacks up in 2012, check out the American Pulse™ InsightCenter™, updated twice a month.
Fun Fact: 13.4% of Gen Yers would like to bring back Abraham Lincoln…because he was a truthful politician or because he hunts vampires? I am scared to know the honest answer to that one…
Source: American Pulse™ Survey, June 2012 #1, N = 3,603
© 2012, Prosper®
In an election year, gas prices are more than just a concern for consumers. They become a hot topic in debates and fodder for those political ads we all love so much. Consumers’ pain at the pump can quickly turn into a reason for voting (or not voting) for a particular candidate.
In our May American Pulse survey, we asked respondents who or what they believe controls gas prices, and the American people were most likely to indicate that most control is held overseas. Nearly half of Adults 18+ believe that leaders in the Middle East are in control, followed by 44.3% who say that good ol’ supply and demand holds the power, while “International Conflicts” come in third. Under one in four say that Congress (24.4%) or the President (23.1%) are responsible for pump prices.
When breaking this down by generation, the youthful are more likely to spread the power out. While supply and demand tops their list, they are the least likely to say this basic economic principle controls gas prices. They are also the least likely to believe leaders in the Middle East are in control, but more likely than older generations to say the President and Congress are holding the reigns.
When we asked these questions in May, consumers had expected gas prices to be $3.95 per gallon by Memorial Day weekend, only to be pleasantly surprised when they were only at $3.67 per gallon (EIA.gov). With gas prices below expectations and continuing to decline (not to mention those $5/gallon summer forecasts we were hearing about heading into the Spring seemingly by the wayside), we decided to ask consumers in our June American Pulse survey who they believed was responsible for the drop in the average price per gallon, using the same list of available answers. In other words, we know who they think controls them, but who do they give credit to when things are going well?
For Adults 18+, supply and demand tops the list of responsible parties when it comes to prices declining, followed by consumers themselves (the “demand” side of that S+D equation).
As they did with the control, Gen Y was most likely to spread out the credit. Older generations were more likely to focus on supply and demand and consumers. 20.9% of Gen Y indicated that the President was responsible, compared to just 12.6% of Gen X, 6.2% of Boomers, and 4.5% of the Silent Generation. Congress followed the same trend with Gen Y being the most likely to indicate they were responsible for the drop in prices.
So, let’s bring this all back to the election. Will gas prices have a direct impact on who consumers vote for in the November?
If consumers are feeling the pinch (or even anticipating it) because of the dollars draining from their wallets when they fill up their tank, it seems the faces of the incumbents in the Oval Office and at the State House will be flashing in their minds along with the dollar signs. Steep gas prices could be an advantage for those looking to steal a seat in Congress or make Pennsylvania Avenue their new address. On the flip side, with consumers not giving a whole lot of credit to politicians currently holding office, a slight drop in gasoline prices alone probably won’t be the tipping point for incumbents to hold onto their seats. Either way, Gen Y is most likely to equate pump prices with political offices.
Source: American Pulse™ Survey, May & June 2012, Jun-12 N = 3603
© 2012, Prosper®