Confidence in Obama on economy hits new low

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Confidence in President Obama’s economic policies has reached an all-time low.

Just 24 percent of Americans say they are extremely or quite confident in Obama’s plan for the economy, according to the CNBC All-America Economic survey released Tuesday. In June 2013, 33 percent gave Obama’s economic policies a thumbs-up, which was the previous record low.

Forty-four percent of Americans say they have no confidence in Obama’s economic policies, tying a previous record set in August 2012.

The lingering economic pessimism comes despite signs that the economy is growing at a solid rate and with the unemployment rate at its lowest level in six years. However, wage growth remains muted at best, leaving many Americans feeling as if the economy has not improved much at all since the recession hit.

The persistent discontent is also complicating Obama's attempts to tout the economic gains under his watch in an effort to help Democrats hold off Republican challengers at the polls. At the same time, he acknowledges much of the lingering concern, pushing for initiatives like increasing the minimum wage and equal pay for women to further bolster Democratic campaigns.

Obama is facing broad concern about his economic policies from all groups. Just 45 percent of Democrats say they have confidence in his policies.

But even facing those bleak numbers, Obama is leading the pack, when it comes to policymakers. Only 11 percent of those polled express confidence in congressional Republicans’ economic policies, and congressional Democrats fall in the middle with a 16 percent approval rating.

The poll found widespread dissatisfaction with the state of the economy, despite the run of solid data. Seventy-nine percent rated the economy as fair or poor, down slightly from 84 percent a year ago.

Just 18 percent say the economy is excellent or good. But even within that group of optimists, less than half say they have confidence in Obama’s policies.