THE ISSUE: Improving the economy

OUR OPINION: Poll on economy, stimulus finds contradictions

Just as millions of baby boomers are considering retirement, the economy goes south. As losses in retirement accounts mount, the best-laid plans for very many are at best de-

layed and at worst gone.

According to the AARP, on average, laid-off workers age 55 and over are now unemployed for 25.2 weeks. Older workers face the obstacles of employers worrying about their salary levels, their benefit costs, their health, etc. Even the advantage of experience can be counteracted by such concerns, leading to loss of jobs and inability to find work.

The latest Elon University Poll is testament to how much people in the Carolinas are being impacted. Nearly half of respondents have witnessed their retirement plans lose at least a quarter of their values alongside a drop in the values of their homes.

Nearly three quarters of respondents say the economy has touched them personally. Among ways people have been affected:

Lost money in the stock market 60 percent

Home value decline 45 percent

Retirement plan lost 25 percent or more 45 percent

Reduction in hours at work 25 percent

Lost medical coverage/insurance 16 percent

Trouble paying mortgage 15 percent

Lost a job 13 percent

Ironically, Carolinians have a confusing mix of opinions about efforts to improve the economy.

The federal stimulus package passed by Congress and signed into law by President Barack Obama remains unpopular, with South Carolinians expressing even more disapproval than their neighbors to the north. Respondents split evenly on their support (46 percent) and opposition (46 percent) to the stimulus package.

And a majority of residents 52 percent oppose another stimulus effort by the federal government.

Yet 48 percent believe the present stimulus package will help the U.S. economy. And 63 percent of South Carolinians say Gov. Mark Sanford is wrong not to take all stimulus dollars available to South Carolina. A majority 53 percent oppose Sanfords initial decision to not take the federal stimulus money.

Perhaps the best way to view the opinions is personal impact. As the sour economy is hitting retirement dollars and mortgage payments, people believe too much money is being targeted at big banks (75 percent), financial institutions (68 percent) and auto companies (65 percent). Too little is being spent on helping homeowners facing foreclosure (48 percent) and small business owners (68 percent)

There is definitely a sense of skepticism about the economy among North and South Carolinians, said Hunter Bacot, director of the Elon University Poll. There appears to be a pervasive sentiment that citizens personal plights are being neglected and, as a result, they are growing more disgruntled with measures taken to address the ailing economy.

And that leaves a curious conclusion: South Carolinians do not favor the measures being taken to help them but do not favor their governors stand in rejecting those measures. That they believe the measures will work may be as much a measure of hope as belief in policies they see as off target.

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