When CNN asked Americans how they would describe the economy, some answers were short and candid. “It’s more expensive to exist,” one respondent said. “You’re just staying afloat instead of getting ahead,” said another. A new CNN poll conducted by SSRS finds that nearly 7 in 10 Americans believe a recession is likely within the next year, with financial strain reported across income levels, generations, and political lines.
About half of Americans say they are dissatisfied with their financial situation, and more report their finances have worsened over the past year than improved. As one Indiana respondent described it: “We are making the most money we have ever made, yet we have the least financial freedom we have ever experienced due to the increasing prices.”
That tracks with a separate Gallup survey of 1,001 adults conducted April 1–15, which found a record 55% of Americans say their finances are worsening, the highest Gallup has measured since it began asking the question in 2001, including during the pandemic years and the 2008 financial crisis.
Cost of Living Is the Complaint Everyone Shares
When CNN’s poll asked Americans in an open-ended question to name their biggest financial concern, the cost of living came up across the board, regardless of income or background. Worries about food and gas prices were especially prominent. The share of respondents specifically naming gas prices jumped from 5% a year ago to 23% now, a sharp climb tied in part to rising fuel costs since the start of the Iran war in February.
About a third of Americans say they worry all or most of the time that their income won’t cover their expenses, and another 42% say that concern comes up at least some of the time. Most say they cannot comfortably afford extras like a dinner out or a vacation. Only about a third feel they can easily set aside $1,000 for an emergency or save for the future, according to the CNN poll.
Two-thirds of American workers say their wages are not keeping up with rising prices, and that holds true across education and income levels, including among households earning $150,000 or more, where 57% say the same. Paycheck growth had outpaced inflation for nearly three years, but that streak broke in April, and Bank of America data shows middle- and lower-income workers saw that gap close even earlier. NerdWallet senior economist Elizabeth Renter told CBS News that prices for necessities are especially difficult to absorb because the uncertainty around how long inflation will last is making consumers’ outlooks increasingly gloomy.
A Longer-Running Problem Than It May Seem
The public has held a negative view of the economy for five consecutive years in CNN’s polling, and the Gallup data puts that in a longer perspective. The survey found that affordability concerns, including housing, health care, energy, and education costs, far outpaced all other financial worries in 2026, suggesting the pressure on household budgets runs deeper than any one expense.
Longer-term financial anxieties are also deepening. Gallup found that about 62% of respondents feared not having enough money for retirement, up 3 percentage points from a year earlier. A 2026 study from the Allianz Center for the Future of Retirement found that 67% of Americans say they are more worried about running out of money than about dying, up 10 percentage points from the previous year.
Near-term pressures are compounding those long-term fears. Gallup found that 28% of those surveyed worry about making minimum payments on their credit cards, up 11 percentage points from 2021. Three-quarters of Americans in CNN’s poll said getting ahead financially is harder now than it was for the previous generation, and a similar share said they expect the next generation to face even steeper odds.
The Broader Sense That the System Isn’t Working
Beyond personal finances, Americans are expressing deeper skepticism about the economic system itself. Three-quarters of respondents in CNN’s poll say the economic system unfairly favors powerful interests, and less than half now believe most people can get ahead through hard work, according to the same poll.
That caution is showing up in behavior. Eighty-eight percent of Americans, including more than 8 in 10 across income brackets, told CNN’s poll that now is a better time to save than to spend on major purchases, and only about a third feel they can set aside $1,000 for an emergency.
Whether a recession materializes or not, both surveys point to a public that is financially cautious and broadly skeptical. Affordability ranked as the top concern in both polls, and the outlook remains uncertain for now. Many respondents told CNN they feel like they are treading water rather than moving forward, a sentiment reflected across both surveys.
