Why? Many people 65 and older retired and downsized their lifestyles before the economy imploded, according to Pew analysts. Most aren't raising kids and many are not so worried about being laid off. Loss of income can be, of course, a source of stress and displeasure. (While money doesn't buy happiness).
If you're thinking that Republicans are happy just because they perhaps make more money, that does not seem to be the case. The study that found Republicans to be happier than Democrats also showed that it held true even after adjusting for income.
It's those age 50-64 who've "seen their nest eggs shrink the most and their anxieties about retirement swell the most," the Pew survey found. It also finds that younger adults (ages 18-49) "have taken the worst lumps in the job market but remain relatively upbeat about their financial future."
In the new Pew telephone survey, taken in March and April of 2,969 adults, here's how many respondents in each age group said they had cut back on spending in the past year:
And is the recession causing stress in your family?
Now for the good news: A study in January found that key groups of people in the United States have grown happier over the past few decades, while other have become less so. The result: Happiness inequality has decreased since the 1970s. Americans are becoming more similar to each other on the happiness scale.