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Despite the fact that our economy is struggling and worsening almost daily, 23 percent of Americans still believe the economy is in good or excellent shape. As it turns out, this 23 percent is likely composed of people at the top of the financial ladder.
Lone Star College economist Hank Lewis told KTRH, "The people that are in the top tier are the ones that have good finances, and they're gonna see the economy as being as rosy as their own finances, which is kind of short-sighted when you think about it."
Lewis also says that political bias could be a factor as well. He said that some individuals will blindly support their party and say the economy is doing well when their party is in power. He says it's an example of perception issues like confirmation bias.