Americans and Europeans Support Spending Cuts, Feel Impact of Crisis

Many countries in the EU have reacted to the economic crisis by implementing austerity measures. When Europeans were asked in the 2011 Transatlantic Trends Report whether they would prefer to decrease, maintain current levels, or increase government spending, half of those in the EU (50%) preferred to decrease spending. At the same time, Americans (61%) were also much more likely to want to decrease spending than either of the other options.

While 67% of EU respondents considered EU membership good for the economy, the Euro did not enjoy the same support. Only 40% of respondents in eurozone countries felt the Euro had been good for their countries’ economies.

They survey also found that personal economic pain was not abating in Europe and the United States. In America, 82% of respondents (up seven percentage points from 2010) had been personally affected by the economic crisis, while the average in the EU remained stable at (61%). Additionally, majorities across the EU (56%) disapproved of their governments’ management of the economy.

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