New Poll: Most Americans Aren't Experiencing Economic Recovery

Despite reassurances a few weeks ago by Federal Reserve Chairman Ben Bernanke that a double-dip recession is unlikely, many Americans worry about that prospect.

Roughly two-thirds of Americans polled in a June survey by StrategyOne say they think the US will probably experience a double-dip recession, and a whopping 92% say the recession isn't over.

Recovery? What Recovery?

Almost two-thirds, 64%, say they've seen little or no signs of recovery where they live and work, and almost eight in 10 Americans, 79%, say they can't say for sure if the economy is recovering.

Most people polled say they believe it will be until at least the end of 2011 before a recovery takes hold, and 23% say they don't think the economy will ever fully recover.

Only 10% of those polled expect to spend more in the next three months, whereas 47% say they'll spend less.

Effect on Bank Rates

Consumer spending accounts for roughly 70% of the U.S. economy, which must improve for CD rates, savings account rates, and money market account rates to rise. But the job market must grow before consumers have the confidence to spend, and recently monthly job reports have been disappointing.

As if this weren't depressing enough, the StrategyOne survey also found that more than half of Americans, 57%, fear they'll run out of money in the next year, and 44% say if things get much worse, they could see themselves sliding into bankruptcy. Two-thirds of those polled report living paycheck to paycheck.