Texans Remain Uncertain About Economy
Posted: 4:33 am MDT June 24, 2009Updated: 10:05 am MDT June 24, 2009
EL PASO, Texas -- Today's economic uncertainties have El Pasoans paying close attention to their family's budget for the short and long term.The slumping economy and weakened stock market have many Texans on edge. Layoffs and budget cuts are being seen at almost every job."I didn't get a raise this year because the company couldn't unfortunately afford to give it to us, said west El Paso resident Matthew Meeks. Our bonuses got cut out."Meeks is among the thousands of Americans who have had to cut corners to stay afloat. "I try not to drive around as often as I used to try to keep things within a certain radius of my home, Meeks said. "It's hard because everything else is going up but you never got a raise."A poll recently conducted found for Texans, one of the top concerns continues to be the economy. On the economy, more than two-thirds don't have confidence in the stock market and almost half are not very confident about the safety of their retirement funds. Almost a third of respondents have even stopped putting money in their own retirement accounts, according to the nonpartisan Texas Lyceum Poll."I know a couple of friends that are a lot older than me and they even worry. It's one thing after another hitting everybody, now they have to go back to work because their retirement and budget that they planned doesn't work for the economy right now, added Meeks.The poll also shows Texans remain leery about government spending to boost the economy, especially when it comes to bailing out financial institutions and automakers, but they all seem to agree on federal spending in one area."They should use that money more towards education, said Robert Sutcliffe, of west El Paso.Many surveyed say the recession has even kept them from pursuing an education.
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