Poll: Americans grow gloomier about U.S. economy

— -- The nation's economic mood has turned even gloomier, according to a USA TODAY/Gallup Poll conducted over the weekend.

Sixty percent of those polled said that the current economic crisis was the worst in their lifetime, up from 40% in September. Fully 95%viewed the current economic situation as a crisis or a major problem.

"This is by far the worst economic crisis I have lived through," says Chris Calano of Anaheim, Calif.

Gloom is so deep that 79% of those polled worried — either a great deal or a moderate amount — that the nation would fall into a depression. A depression was defined as an economic downturn much more severe than most recessions and lasting several years. When asked how long before the economy will start to recover, the median response — half higher, half lower — was three years.

Another 62% said they were worried about having enough money for retirement. "For those of us getting closer to retirement, the stress level has increased dramatically because we have seen huge losses in our home values and our 401(k)/IRA balances," Calano says.

And many thought that this generation would not fare as well as their parents' generation. Just 19% said it would be very likely that today's children would be more prosperous than their parents.

For example, Joe Micalizzi of Staten Island, N.Y., frets that fewer people will be able help their children get through college. "I haven't seen a raise in three years," Micalizzi says.

Despite the pessimism, people are not becoming more concerned about their own situations:

•11% said their financial situation was excellent, up from 7% in April and the highest since polling began in 2001.

•19% said they were very worried that they would be unable to maintain their standard of living, down from 24% in September.

•17% said that they were very worried about paying their current bills, vs. 20% in September.

Donna Bischoff of New Orleans agrees that the nation is in a financial crisis. "Only a moron would say that we were not," she says.