Confidence Drops on Obama's Economic Handling

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Americans are feeling more pessimistic about the economy. A majority now believe it's only going to get worse and they are also not satisfied with the way politicians are handling the situation.

Companies continue to hold on to their cash, reluctant to hire new workers until the future looks brighter.

Nearly two-thirds of Americans believe the economy is only going to get worse before it gets better.

An NBC-Wall Street Journal poll revealed voters are less confident with the way President Barack Obama is handling the situation or that his policies are helping.

Forty-four percent approve of how he's handling the economy while 52 percent disapprove. And many financial analysts are concerned that the Federal Reserve can't do much more to improve the economy.

"I think people are worried that there is not much more they can do and it is really going to be up to the private sector," said Alec Young, equity strategist for Standards & Poor's.

Voters aren't impressed with the Democrat-controlled Congress.

A Gallup poll finds just 19 percent of Americans approve of the job Congress is doing, while a whopping 75 percent disapprove.

With less than three months to go before the midterm elections, voters moods are unlikely to change, which could mean a big change in Congress this November.

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CBN News
Jennifer Wishon

Jennifer Wishon

CBN News White House Correspondent

Jennifer Wishon is the White House correspondent for CBN News based in the network’s Washington, D.C. Bureau.  Before taking over the White House beat, Jennifer covered Capitol Hill and other national news, from the economy to the 2010 oil spill in the Gulf of Mexico. Follow Jennifer on Twitter @JenniferWishon and "like" her at