Poll: NYers have been cutting back amid pessimism about America's future

New Yorkers are split over whether America’s best economic days are in the past, have become pessimistic about their future and are cutting back to compensate, according to a poll released Thursday.

The Siena College Research Institute poll found one broad area of agreement: 60% said they aren’t confident in President Donald Trump’s ability to lead the country out of any economic difficulty, in a finding that put Democrats and Republicans at polar extremes.

Guys like Ken Veale of Lake Grove are bitterly disappointed.

"He’s doing a terrible job as far as I can see," said Veale, owner of a Port Jefferson motorcycle shop.

Now in his 70s, Veale said he voted for Trump thinking that "things would get better." But instead, he said he sees things moving in the opposite direction, with food and restaurants more expensive.

"He promised lower prices for all, and prices are just going crazy," he said. Trump’s tariffs on imports "only cost Americans more money."

"I’m selling a quarter of what I expected to sell this year, and these are not good times coming up," Veale said.

The poll reflected Veale's experience, that many New Yorkers are spending less because of the economy.

For example, 71% said they cut back on the quality or frequency of entertainment, including vacations and eating at restaurants; 64% of those surveyed said they have fully or partly started using coupons and special offers for food, clothing and household products; 54% said they delayed at least some major purchases such as for appliances, cars or homes; 44% said they postponed at least some maintenance on their homes or automobiles; and 59% said they have turned to purchasing lower quality items to save money on food, clothing, health and hygiene.

"At least 6 in 10 say that they are cutting back," Siena’s Travis Brodbeck said. "Those earning the least were more likely to say that they completely or partially made a change in response to current economic conditions."

Some of the greatest concerns are from New Yorkers trying to plan a retirement that they fear will be much different from what their parents’ generation enjoyed.

"New Yorkers are narrowly pessimistic on the future of the nation’s economy, with slightly more saying that our best days are behind us rather than ahead," Brodbeck said. "Across the state, more residents are telling us that they are falling behind than getting ahead, with almost half treading water."

Among the survey’s findings: 

• 47% of New Yorkers say the next generation will face a lower standard of living and that America’s best economic days are in the past. But 45% say the current economic problems including rising inflation, a volatile stock market and disrupted global trade under Trump’s threats of tariffs are only temporary.
• 52% said they are confident Social Security benefits will still be available when they retire, while 45% are not confident.
• 48% of New Yorkers said they are confident that, in retirement, the government’s Medicare health care program will continue to provide high-quality medical care, while 46% are not confident.
• 52% of working New Yorkers surveyed said they are somewhat or very confident they will have enough money in retirement to maintain their quality of life, while 44% are not "not very" or "not at all" confident.

New Yorkers are perceiving the nation’s outlook in part through their own experiences. Only 20% of New Yorkers polled said they are getting ahead financially, while 32% said they are falling behind. Another 48% said the are neither gaining nor losing in the current American economy.

The degree of pessimism is colored by polarized politics, with Republicans slightly more optimistic about the country’s economic future under the Republican president and a GOP-controlled Congress, the poll found.

For example, 72% of Republicans said they are very confident or somewhat confident Trump will make America’s future great, while 78% of Democrats are not very confident or not at all confident.

The poll surveyed 921 New York state residents from June 25 through July 2. It has a margin of error of 3.6 percentage points.

The pain isn’t shared by all and Trump isn’t the only one to blame, said Dawn Erickson.

Wealthier Long Islanders are fine, but "we are the ones that are paying the back end for of this for basically everybody,” said Erickson, 51, of Stony Brook who received disability benefits for a back injury.

She said, however, that Trump can’t be blamed for all the economic problems of the day.

"This has been set in motion before he was here and everything is just escalating," she said in an interview.

Newsday's Aidan Johnson contributed to this story.

By Michael Gormley

michael.gormley@newsday.com,aidan.johnson@newsday.com@GormleyAlbany,

Michael Gormley has worked for Newsday since 2013, covering state government, politics and issues. He has covered Albany since 2001.