(CBS) - Experts say the US economy is turning around, but many Americans just arent buying it.
Growth is picking up, unemployment is down, inflation is low and consumers are getting more confident. The economy is widely expected to continue improving, with most of the ingredients in place for a stronger recovery.
Of course, its one thing to be told things are getting better, quite another to see it and know in your bones that things have turned a corner. And for much of America, that simply isnt happening.
Look at the exit polling from last weeks midterm elections. The message in survey after survey was clear: Most people think the economy is headed in the wrong direction. Generally, when people think the country is on the wrong track, they hold the Presidents party responsible. That held true last week, as Democrats got soundly shellacked.
But why are Americans so pessimistic even as the economic picture looks brighter? As it turns out, there are a number of problems festering under the surface of the recovery that people just cant ignore.
Read on for 10 reasons Americans are down on the economy.
1. Weak wage growth
2. Broad declines in wealth
3. Missing out on market gains
4. Rising income inequality
5. Shrinking middle class
6. Low interest rates hurt savers
7. Rise of the McJobs
8. Home loans are hard to get
9. Insufficent retirement savings
10. Soaring college costs