Most Americans Think U.S. in Recession

Economic optimism at 15 month low

With tax hikes and rising gasoline prices sapping consumers' pocketbooks and politicians preaching sequester gloom and doom, the IBD/TIPP Economic Optimism Index plunged 5.1 points in March to 42.2, the lowest since December 2011.

The federal economic policies confidence gauge fell 11% to 35.5, also a 15-month low. The six-month outlook index cratered 18% to 38.8, the worst since October 2011. The personal financial outlook reading lost 4.4% to 52.2, though that's still above the neutral 50 level separating optimism and pessimism.