POLL: Deep Damage From Economic Crash One Year On

Sept. 15, 2009— -- A year after the collapse of Lehman Brothers signaled the start of the economic crisis, Americans remain badly bruised, reporting widespread and continued financial woes, significant levels of personal stress and skepticism that lasting reforms are being put in place.

A remarkable 41 percent say that in the last year someone in their household has had their pay or work hours cut. Twenty-seven percent -- one in four -- say a layoff or the loss of a job has hit their home. The total with either a pay cut or job loss is 47 percent, nearly half the country.

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Sixty-five percent have been hurt financially; one in three, hurt "a great deal."

And it's a country still on tenterhooks. Fifty-three percent are concerned about a pay cut in the months ahead, and nearly as many, 46 percent, worry about a layoff hitting their household. Those levels of anxiety are unchanged since February, despite reports the recession may have bottomed out.

EFFECTS – One result is stress: A majority of Americans, 55 percent, say the current economic situation is a cause of stress in their lives, down a bit from 61 percent early last spring but still a large number. One in three call it "serious" stress.

That soars, naturally, among people who've had a job loss or pay cut in the household. In this group 72 percent report stress, 47 percent, "serious stress." And stress is about as high among those who are worried about a job loss or pay cut in the months ahead.

One of the reasons for stress cuts to the current health care debate. Among people who report a job loss or layoff in the past year, 26 percent -- one in four -- say they don't have health insurance coverage. Among those who report no job losses, far fewer lack coverage, 9 percent.

Another effect is disaffection at the political and policy levels. Just 49 percent of Americans express confidence the federal government is putting measures in place that will make another financial crisis less likely in the future; a mere 10 percent are "very" confident this is happening.