Recession Near or Already Here?

More than three in four Americans believe the U.S. economy is already in a recession, or will be sometime in 2008.  That's according to a comprehensive poll commissioned recently by Fortune Magazine.

Only 19 percent of 1,000 Americans surveyed believe the nation will avoid a recession, while 57 percent believe there will be a downturn this year.  Another 19 percent believe the nation is already in a recession.

What's worse for the economic outlook, just about half of those surveyed say they've cut back their spending compared to last year.

These results indicate a far gloomier outlook than economists anticipated.

How worried are you?  Post a comment below.  We'd love to hear your take on the economy.  Don't worry, your contact information will never be posted on this blog.