WASHINGTON, Dec. 8, 2010 /PRNewswire/ -- The American public
is deeply concerned about the strength of the U.S. economy and its
competitiveness with the rest of the world, according to poll
results announced today by The Allstate Corporation (NYSE: ALL) and
National Journal.
The seventh quarterly Allstate-National Journal Heartland
Monitor Poll focused on how Americans view U.S. workforce
competitiveness and the American manufacturing sector as a key
driver of job creation. Only 20% of Americans polled believe that
the United States has the
strongest economy in the world, while nearly half say this
distinction lies with China.
Despite this pessimistic view, one-third of Americans (34%)
believe the United States will
have the world's strongest economy 20 years from now, roughly in
line with those who hold similar expectations of China's economy (37%). Respondents cited
America's strengths in its higher education system (74%), science
and research (66%), workforce (56%) and corporate leaders
(57%).
Eighty percent of Americans say manufacturing will be extremely
or very important to U.S. economic growth over the next five to 10
years. Emphasizing this point, 62% agree it's important for the
government to help advanced manufacturing industries with tax
incentives and funding – even if it means more federal spending and
more government involvement in the economy.
"Americans clearly understand the global economic landscape has
changed," said Thomas J.
Wilson, Allstate chairman, president and chief executive
officer. "As a result, they are concerned about their future and
that of their children. They want public and private leaders to put
aside ideological fundamentalism and make compromises to move the
country forward. Businesses need to expand their investment in U.S.
growth. Public sector leaders must support manufacturing, research
and education. Our common goal should be for America to remain the
most advanced, most innovative, and largest economy in the
world."
"President Obama said this week that the nation is facing 'our
Sputnik moment' in the international economic competition, and it's
clear from the latest Heartland Monitor survey that many Americans
agree," said Ronald
Brownstein, editorial director of National Journal
Group. "The powerful anxiety crackling through this poll about the
nation's precarious position in the global race for jobs and growth
should be a signal to politicians in both parties that Americans
are open to, and even eager for, bold ideas from business and
government to strengthen our competitive position."
The seventh Allstate-National Journal Heartland Monitor
Poll (PDF) identified several key personal, financial, and economic
concerns:
1) Americans believe the United
States now lags behind China as the strongest economy in the world
and are deeply pessimistic about the current track of the
country.
- Only 20% of Americans believe that the United States has the strongest economy in
the world today. Nearly half (47%) believe that this distinction
lies with China.
- When asked about the direction of the country, 60% said
the United States is heading in
the wrong direction, up from 50% in September 2009.
- More than half of Americans (67%) believe that their financial
situation will get worse or remain the same in 2011, rather than
improve.
- More than one-third of Americans (37%) believe the country is
significantly worse off due to President Obama's policies,
consistent with previous Heartland Monitor Poll findings in April
(37%) and August (41%) of this year.
- More than one-third (35%) of Americans believe recent economic
policies have decreased opportunities for people to get ahead, and
only 14% believe that the country is better off because of those
policies.
2) The manufacturing sector is seen as fundamental to the
U.S. economy and a top priority for government investment and
protection, even if it means more federal spending and
involvement.
- A total of 80% of Americans believe that manufacturing will be
extremely or very important to U.S. economic growth over the next
five to 10 years.
- More than half of Americans (62%) agree that it's important for
the government to help advanced manufacturing industries with tax
incentives and funding – even if it means more federal spending and
more government involvement in the economy.
- More than two-thirds (68%) say they support a policy that would
require a percentage of high-end manufactured products sold in
the United States to be produced
or assembled here – even if it means higher prices.
3) Americans see global competition as a major reason for
economic problems in the United
States.
- More than half (58%) blame the loss of U.S. manufacturing jobs
on companies that shifted jobs overseas to lower labor costs and
increase profits.
- Two-thirds (67%) say that U.S. corporate outsourcing has played
a major role in the recent high unemployment rate.
- More than half (53%) believe that U.S. elementary and secondary
schools lag behind those of other countries.
4) The American workforce has not lost faith in the American
Dream despite serious concerns about the current state of the
economy. Americans remain optimistic about America's long-term
prosperity and economic resilience.
- Americans believe that several aspects of the U.S. economy rank
ahead of other world economic powers, namely, colleges and
universities (74%), science and research (66%), the American
workforce (56%) and corporate leaders (57%).
- One-third (34%) of Americans believe that the United States will have the strongest
economy in the world 20 years from now, roughly in line with the
number who identified China
(37%).
5) Americans want leaders in Washington to work together, and they place a
greater priority on investment for job creation than on deficit
reduction.
- As the new Congress takes office, more than two-thirds (70%) of
Americans prefer that the Republicans in Congress compromise with
President Obama and Congressional Democrats.
- Only 25% say Republicans should pursue their own agenda,
including repeals of President Obama's legislation and
regulations.
- Americans say that the top priority of elected officials in
Washington should be to provide
new spending on infrastructure, research and education to encourage
job creation (28%), well above those who said that the most
important priority should be new tax cuts (22%), repealing or
changing healthcare reform (19%), extending all the Bush Era tax
cuts (13%) or addressing the federal deficit (11%).
Notes to Editors
|
|
|
|
Survey
Methodology
|
|
National Sample of 1200 ADULTS
AGE 18+
|
|
(Margin of Error =
+/-2.8%)
|
|
Interviews Conducted via
Telephone November 29-December 1, 2010
|
|
|
About Allstate
The Allstate Corporation (NYSE: ALL) is the nation's largest
publicly held personal lines insurer. Widely known through the
"You're In Good Hands With Allstate®" slogan, Allstate is
reinventing protection and retirement to help more than 17 million
households insure what they have today and better prepare for
tomorrow. Consumers access Allstate insurance products (auto, home,
life and retirement) and services through Allstate agencies,
independent agencies, and Allstate exclusive financial
representatives in the U.S. and Canada, as well as via www.allstate.com and
1-800 Allstate®. For an overview of the other Allstate-National
Journal Heartland Monitor Polls, visit
http://www.allstate.com/heartland-monitor.
About National Journal Group
Since 1969, National Journal Group has provided insight for
insiders through nonpartisan reporting on current political and
policy issues as well as tools professionals need to do their jobs
well. National Journal Group properties include National
Journal, National Journal Daily, NationalJournal.com,
The Hotline, The Almanac of American Politics and Global
Security Newswire.
About FD
One of the most highly regarded consultancies in the
communications industry, FD employs more than 750 staff and advises
more than 1,000 clients worldwide through its hub offices in
London and New York, as well as its network of wholly
owned offices in Bahrain,
Beijing, Bogota, Boston, Brussels, Cape
Town, Chicago, Dubai, Dublin, Frankfurt, Hong
Kong, Johannesburg,
Los Angeles, Manchester, Melbourne, Moscow, Panama City, Paris, San
Francisco, Shanghai,
Sydney and Washington, DC. With a 20-year history
of advising clients in both the private and public sectors, FD's
services include financial public relations, capital markets
communications, public affairs, crisis and issues management and
corporate, business-to-business and business-to-consumer
communications. FD is also a market leader in M&A
advisory work. FD is structured around specialist sector
teams operating on an international basis, covering consumer
industries, financial services, basic industries, business
services, life sciences & healthcare, media, real estate,
technology and telecommunications. FD is a division of FTI
Consulting Inc. (NYSE: FCN), the global business advisory firm.
For more information, please visit www.fd.com.
SOURCE Allstate Corporation