Survey Suggests Disconnect Between Main Street and Wall Street

As the economy continues to show few signs of recovery on the horizon, the gap between the so-called "Main Street" economy and the large finance sector continues to expand.

A survey released this week by Raddon Financial Group and Open Solutions offers further evidence of this trend, specifically finding most consumers and small business owners did not heed Wall Street's heralding of an economic recovery.

According to the report, nearly two-thirds of respondents see no evidence of an end to the recession, and 23 percent expect conditions to worsen. More than half of consumers and small business owners - 55 percent - claim they've been directly affected by the downturn in the form of job losses, fewer hours or reduced benefits. Slightly more claim they are spending less this year.

"With a majority of U.S. households saying they see no evidence the recession is over, I sometimes wonder if Wall Street and Main Street are living in the same universe," said Louis Hernandez, chairman and CEO of Open Solutions. "American jobs have not become more plentiful or secure and the economy hasn't suddenly shifted into high gear."

The study comes as President Barack Obama campaigns to pass his American Jobs Act, a $447 billion stimulus measure focused on job creation.