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Survey: Economic growth leads outlook concerns

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Despite an improved overall outlook, percentage of chief financial officers who rate U.S. economic growth as their No. 1 concern, according to findings of the CFO Outlook Survey conducted by Financial Executives International and Baruch College’s Zicklin School of Business: 38
Percentage of CFOs who cite consumer spending/demand as their top concern: 26
Percentage who are concerned about competition: 25

Roosevelt’s bank fix
Year that President Franklin D. Roosevelt, on his first full day in office, closed every bank across the nation for 10 days to address the growing financial disaster of the Great Depression, which had caused many banks to fail while creating public panic, according to the U.S. Census Bureau: 1933
Estimated number of banks and branch offices, with total deposits of nearly $14 trillion, that are insured by the Federal Deposit Insurance Corp., which was created to cover individual accounts and to protect banks from failure: 97,000

Online transaction security
Percentage of Americans who are seriously concerned about identity theft, according to the results of the Unisys Security Index: 64
Percentage who are also seriously concerned about credit and debit card fraud: 62
Percentage of Americans who are seriously concerned about the security of online transactions – the highest level since the Unisys Security Index began three years ago: 43

Tax waste
Percentage of Americans who believe that more than half of every tax dollar is wasted, according to a Gallup Poll: 35
Percentage who said a number between 26 cents and 50 cents: 33

Loss of luxuries
Percentage of financial advisers who say their clients are not concerned with covering basic needs in retirement, but rather with having to give up luxuries such as traveling and dining out – and that this concern is a driving motivation behind working longer, according to a survey released by MainStay Investments: 61
Percentage of advisers who also cited loss of assets in late 2008 and early 2009 as a reason clients are postponing retirement: 46

Economic optimism
As markets continue to stabilize, percentage of executives of private companies who are optimistic about the U.S. economy over the next 12 months, according to PricewaterhouseCoopers’ Private Company Trendsetter Barometer survey: 45
Percentage of those who market abroad who are optimistic about the world economy: 47

Taxation and morality
Percentage of Americans who consider not reporting all income on one’s taxes to be morally wrong, according to Pew research: 79
Amount of the “tax gap,” the difference between the amount of tax that taxpayers should pay and the amount that is paid voluntarily and on time – resulting from an overall noncompliance rate of about 16 percent in 2001 (the last year for which it had conducted such research), according to a report issued earlier this year by the IRS: $345 billion

Financial foundations
Percentage of teachers who said students are either somewhat or very financially illiterate after graduating high school, according to a survey for Wi$eMoney, the team-based financial literacy game developed by The Learning Key Inc.: 52

John MacIntyre is a Nova Scotia-based author and former city magazine editor. His “Figuratively Speaking” column, launched in 1989, is published in more than 40 newspapers and magazines.[[In-content Ad]]


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