By CNN's Jack Cafferty
With less than three months to go before Election Day, Americans are becoming less confident in the economy. Not good news for President Obama.
According to Gallup's economic confidence index, July was the second monthly decline in a row. This after economic confidence improved during the first five months of the year.
This index measures the current economic conditions and the country's economic outlook. Americans were more pessimistic about both of these things during July.
A whopping 59% say the economy is getting worse. That's the lowest rating of 2012.
Americans' declining economic confidence is likely due to several factors including weak jobs reports, lower-than-expected GDP growth and Europe's ongoing economic problems.
Meanwhile, a new report suggests the shaky economy is hitting baby boomers especially hard. An AARP survey shows high economic anxiety – extending far beyond the issue of jobs – for pre-retirement voters aged 50 to 64.
No surprise there's a lot of worry about retirement:
– Only one-third of these boomers are hopeful or confident they will reach their financial goals.
– Almost three-quarters think they'll have to put off retirement.
– Half don't think they will ever be able to retire.
Many baby boomers are left with smaller pensions than they expected, more expensive health care... and the stress – and cost – of caring for older relatives.
The AARP also recently reported that more than 3 million Americans over the age of 50 are at risk of losing their homes to foreclosure due to the housing crisis.
Here's my question to you: As the election gets closer, are you more or less confident in the U.S. economy?
Tune in to "The Situation Room" at 4 p.m. ET to see if Jack reads your answer on the air.
And we'd love to know where you're writing from, so please include your city and state with your comment.
Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV.
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