Polls reflect economic fears

By Will Lester
Associated Press

WASHINGTON — Public concern about the nation's economy is growing along with fears that the stock market is a "risky" investment, according to new polls that suggest most people think recent corporate accounting scandals are a big problem.

Those growing economic fears were reflected in polls by ABC News-Washington Post and CBS News-New York Times, both released yesterday.

People who think the country is headed down the wrong track was 48 percent, compared with 42 percent who said the country is headed in the right direction, said the CBS-Times poll. In June, people said the nation was headed in the right direction by a 52 percent-35 percent margin.

Most people said the recent corporate accounting scandals are a serious problem, with three of five saying "very serious."

The ABC-Post poll focused on the stock market and asked people if they think the stock market is a safe or risky investment. Four of five said risky, compared to half who felt that way in the summer of 1999.

The ABC-Post poll of 1,512 adults was conducted from July 11 through Monday and its error margin is plus or minus 2.5 percentage points. The CBS-Times poll of 1,000 adults was conducted Saturday through Tuesday and its error margin is plus or minus 3 percentage points.