Home > Business, Obamacare > Americans are losing confidence in the medical system, but gaining confidence in banks

Americans are losing confidence in the medical system, but gaining confidence in banks

June 15, 2013

On June 13, 2013, Gallup released the poll results of American confidence in 16 societal institutions. Their big story with that was Congress being reduced to a confidence level of 10%; this is the lowest confidence level for any of the 16 institutions ever on record! But that isn’t surprising, I know very few people who have anything nice to say about Congress. Instead I thought it was worth looking at some other numbers. Here are the results:

Image Source: Gallup

Image Source: Gallup

Looking purely at ‘big changes’ it is hard to miss the Medical System losing 6 points from its confidence level last year. With a confidence level of 35% it can be said that a third of the country has no faith in our current medical system. This brings confidence levels back to their 2009 levels. Looking at the chart below the confidence has been around 40 since the passing of Obamacare. What caused a full six point drop at this point? I would speculate that fear of the mandates and their impact upon small business owners is driving down confidence.  I would also wonder if all of the DC scandals are making people lose confidence in Obamacare. No matter what the reason, it is quite evident that confidence in the medical system has dropped sharply. The insurance and medical companies that lobbied so hard to get Obamacare passed may have shot themselves in the foot by evaporating their customers confidence.

Image Source: Gallup

Image Source: Gallup

Another interesting change is the increased confidence of 5 percentage points in banks. This one seems odd to me. After four years around 20 percentage points banks have suddenly surged to 26 percentage points (see chart below). I find this odd because banks have done little to show they are now responsible. I guess most of America is more forgiving than me. If these banks had not acted in such a haphazard fashion (along with the governments help) the economy would not have crashed quite as hard. It is troubling that people are gaining confidence in an institution that has done little or nothing to show it has amended its ways.

Image Source: Gallup

Image Source: Gallup

Other than those big changes not much in the confidence poll results are overly surprising. It is however nice to see confidence in small  business grow. Hopefully that will translate to increased confidence in people wanting to start new businesses; provided fear of Obamacare mandates don’t counteract the confidence in small businesses.

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