Americans Refuse To Be Happy
Despite a booming economy, Americans are expressing unprecedented levels of pessimism about their financial situation. Consumer sentiment has dropped to its lowest point since 1952, with many feeling worse than during past economic crises. This persistent negativity, termed a 'permacession,' suggests a deep-seated belief that the economy cannot improve, even as many indicators show significant progress.
- ▪The University of Michigan's consumer sentiment index has reached its lowest level since 1952.
- ▪A majority of both Republican and Democratic voters rate the economy negatively, with 94 percent of potential Democratic voters describing it as 'fair' or 'poor.'
- ▪Despite high employment rates and a booming stock market, Americans are experiencing deep economic pessimism, leading to the term 'permacession.'
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IdeasAmericans Refuse To Be HappyOur prosperity is fueling our pessimism.By Annie LowreyIllustration by The AtlanticMay 24, 2026, 7:15 AM ET ShareSave According to Americans, it is bad out there. Real bad. This month, the University of Michigan’s index of consumer sentiment dropped to its lowest point since 1952, when the survey started. A poll of potential Republican voters found that just 43 percent rated the economy as “excellent” or “good” and 55 percent as “fair” or “poor”; for potential Democratic voters, the shares were 5 percent and 94 percent, respectively. Low-income families are nervous, and so are high-income ones. Students and retirees are dour. Rural and urban voters are dissatisfied. People are worried about the present and future.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Atlantic.
