Poll: Americans - and Millennials - Lack Confidence in Government and Wall Street on Economy

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Jan 26, 2010, 12:03 ET

Strong majorities oppose business greed, regulation by Washington, see country headed in wrong direction

DAVOS, Switzerland, Jan. 26 /PRNewswire-USNewswire/ -- A new national poll finds a crisis of confidence on economic issues among Americans -- and younger Americans (those 18-29) -- alike.

Among the key findings, Americans and Millennials:

Are not confident in the government's ability to handle the economic crisis. (59% of Americans; 55% of Millennials)
Want a free market approach and oppose greater government regulation of business. (55% of Americans; 53% of Millennials)
Believe the country is headed in the wrong direction. (67% of Americans; 60% of Millennials)
Want the same set of moral standards in business life as in personal life. (75% of Americans; 66% of Millennials)
See business decisions based on greed as morally wrong. (74% of Americans; 77% of Millennials)
Think their careers will be negatively impacted for the long-term by the current economic situation (55% of Americans under 65 years old; 55% of Millennials).

"A year into the Obama administration, we find that Americans -- and younger Americans -- are having a crisis of confidence," says Carl Anderson, CEO of the Knights of Columbus, the group that commissioned the poll. "People are increasingly pessimistic about the government's ability to handle the economic crisis and a majority believes that increased government regulation will hurt the economy."

Mr. Anderson adds, "At the same time, most Americans are unhappy with the ethical environment in business. They want less greed, and the same core values that govern an executive's personal life to also govern business decisions. In other words, Americans neither want sleight of hand on Wall Street or a heavy hand from Washington, and these attitudes are shared by America's young adults."

The poll was conducted by the Marist Institute for the Knights of Columbus as part of the Moral Compass Project, a series of surveys on the ethical attitudes of Americans.

Survey results are available online at http://kofc.org/un/eb/en/news/polls/millennials.html.

SOURCE Knights of Columbus