An overwhelming majority of voters are concerned that the U.S. will enter a recession in 2020, according to a Hill-HarrisX poll released Monday.
Seventy-three percent of respondents said they are very or somewhat concerned the world’s largest economy will enter a recession next year.
Nineteen percent of respondents said they were not concerned, while 9 percent said they were unsure.
The concern about slipping into a recession was strong across party lines.
Fifty-five percent of Republican respondents said they were concerned about a potential economic downturn in 2020, compared with 84 percent of Democratic voters. Seventy-nine percent of independent voters also shared those concerns.
The poll comes amid rising fears of a recession hitting both the U.S. and global economy.
The Trump administration has pushed back, arguing the robust economy is not susceptible to a downturn in the near future.
In response to a question over whether the administration is considering steps to stave off a potential recession, White House economic adviser Larry Kudlow told “Fox New Sunday” over the weekend that, “There’s no recession on the horizon.”
President Trump, meanwhile, has stepped up pressure on the Federal Reserve to cut interest rates and take other steps to stimulate what he called a “very strong” economy. He has also lashed out at Democrats, accusing them of wanting the economy to suffer in order to improve their odds of electoral gains next year.
“Our Economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed, but the Democrats are trying to ‘will’ the Economy to be bad for purposes of the 2020 Election,” Trump tweeted on Monday.
The president’s comments come less than a week after U.S. markets suffered their biggest single-day decline of 2019, with the Dow Jones Industrial Average plunging 800 points during a trading day.
Many economists argue that Trump’s trade battles with China and Europe have taken their toll on both the U.S. and world economy.
The Hill-HarrisX poll was conducted online Aug. 16-17 among 1,001 registered voters. The margin of error is plus or minus 3.1 percentage points.
—Tess Bonn
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