55% of Americans Think the Worst Is Yet to Come for the U.S. Economy
COVID-19 has done more than sickened thousands of Americans; it's also taken a major toll on the U.S. economy. Right now, millions of Americans are out of work, and unemployment claims are through the roof. Meanwhile, small businesses have closed their doors nationwide, whether due to social distancing mandates or the fact that they don't have the money to stay operational. (And let's not get started on the Paycheck Protection Program -- as of last week, it was already out of money, though lawmakers are working to infuse more into it.)
It's not surprising, then, to learn that Americans have a somewhat bleak outlook when it comes to their personal finances, as well as the country's finances on a whole. In fact, 55% of U.S. adults are convinced that the worst isn't behind us with regard to the economy, but rather, is yet to come, according to a recent J.D. Power survey. Furthermore, 40% believe their personal finances will get hurt even more in the coming months. The latter is especially disturbing given that 8% of Americans say the COVID-19 outbreak has "devastated" their financial situation, while 20% say it's already severely hurt their finances.
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Source Fool.com
