The country can’t afford any more Republican economics. Their policies are going to drag the global economies down as well.

More than three in four Americans believe the U.S. economy is already in a recession, or will be sometime in 2008. That’s according to a comprehensive poll commissioned this week by Fortune Magazine.

Only 19 percent of 1,000 Americans surveyed believe the nation will avoid a recession, while 57 percent believe that there will be a downturn this year. Another 19 percent believe the nation is already in a recession.

What’s worse for the economic outlook, just about half of those surveyed say that they’ve cut back their spending compared to last year.