As President Bush faces Congress and the American people tonight, the Pew Research Center finds about one third of Americans (34%) rank current economic conditions as excellent or good. Nearly twice as many rank economic conditions as fair or poor (64%).

This is an improvement from fall 2005, when consumer attitudes about the economy were shaped by the Gulf Coast hurricanes and spiking gas prices. The numbers remain below where they stood in January 2005 (39% positive).

The Pew survey, conducted January 4-8, 2006, finds what it calls modest expectations from the American public with 20% thinking the economy will be better this time next year, 22% thinking it will be worse and 55% expecting no significant change. A year ago, 27% of Americans expected things to get better in 2005.

The sum of all economic fears:

• 82% rank gas prices as a big or very big problem
• 87% rank home heating prices as a big or very big problem
• 90% rank the price of health care as a big or very big problem
• 77% rank the federal budget deficit as a big or very big problem
• 75% rank the price of retirement as a big or very big problem
• 70% rank the the job situation as a big or very big problem
• 65% rank housing prices as a big or very big problem
• 61% rank inflation as a big or very big problem
• 48% rank interest rates as a big or very big problem