Nobody's Very Confident in the Economy

Unsurprisingly, Americans aren't very confident in the economy since the shutdown.

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Unsurprisingly, Americans aren't very confident in the economy since the government shutdown. One indicator is the Peter G. Peterson foundation's fiscal confidence index, released on Tuesday. October's score is 38, down 5 points from September (100 is neutral). It's the lowest score since the index's inception.

Further, the Peterson Foundation found that 7 in 10 voters think the country's on the wrong track in addressing the national debt (the Foundation favors comprehensive tax reform). These numbers match up with the Gallup Economic Confidence Index report from October. While Gallup saw a small rebound in confidence after Congress passed a fiscal deal to end the shutdown, Americans still don't expect things to get better.

The biggest shifts across this entire period were in Americans' economic outlook — suggesting Americans expected the shutdown to have a negative ripple effect on the economy, rather than creating immediate hardship.

Meanwhile, Congress is set to resume official budget talks on Wednesday. House budget committee chair Paul Ryan has talked a lot about reaching "achievable" goals and working with Senate budget committee chair Patty Murray to pass a bipartisan deal. How these talks play out — and how close Congress runs up to the December 13 deadline to make a deal — will determine whether confidence index numbers go up. As Gallup points out, it will take a lot for scores to return to the near-positive levels seen in June.

This article is from the archive of our partner The Wire.